Share-Based Compensation

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

2. SHARE-BASED COMPENSATION

Share-Based Compensation

For the three months ended March 31, 2020 and 2019, share-based compensation expense totaled approximately $440,000 and $123,000, respectively.

We determine the fair value of option grant share-based awards at their grant date, using a Black-Scholes-Merton Option-Pricing Model applying the assumptions in the following table:

	three months ended March 31
	2020	2019
Expected life (years)	N/A	N/A
Dividend yield	N/A	N/A
Expected volatility	N/A	N/A
Risk free interest rates	N/A	N/A
Weighted average fair value of options at grant date	N/A	N/A

For the three months ended March 31, 2020, no options to purchase stock were granted and no options were forfeited, additionally, no options to purchase stock were exercised or expired and no restricted stock awards were granted; no restricted stock units were granted, vested or forfeited. At March 31, 2020, options to purchase 31,400,000 shares of common stock were outstanding with a weighted average exercise price of $0.143, a weighted average remaining contract term of approximately 6.4 years with an aggregate intrinsic value of $3,811,000. At March 31, 2020 options for 21,688,000 shares were exercisable.

As of March 31, 2020, there was approximately $1,436,000 of unrecognized compensation cost related to unvested stock options granted and outstanding, net of estimated forfeitures. The cost is expected to be recognized on a weighted average basis over a period of approximately two years.