Stock Options and Warrants

3 Months Ended

Mar. 31, 2022

Stock Options and Warrants

Note G - Stock Options and Warrants

NOTE G – Stock Options and Warrants

The Company currently has two non-statutory stock option plans, the Fiscal 2001 Non-statutory Stock Option Plan (the “2001 Plan”) and the 2013 Equity Compensation Plan (the “2013 Plan”). Both plans have been adopted by our Board of Directors and approved by our shareholders. Both the 2001 Plan and the 2013 Plan have options available for future issuance. Any common shares issued as a result of the exercise of stock options would be new common shares issued from our authorized issued shares.

During the First Quarter 2022 and the First Quarter 2021, the Company issued 0 options to purchase shares of common stock.

Stock option activity for the First Quarter 2022 and the First Quarter 2021 is summarized as follows (the figures contained within the tables below have been rounded to the nearest thousand):

	First Quarter 2022						First Quarter 2021
	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of March 31, 2022		Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of March 31, 2021
Options outstanding at beginning of year		1,937,000	$	0.13				1,987,000	$	0.13
Granted		0	NA					0	NA
Exercised		0	NA					0	NA
Cancelled/expired		0	NA					0	NA
Options outstanding at end of quarter		1,937,000	$	0.13	$	0		1,987,000	$	0.13	$	107,000
Options exercisable at end of quarter		1,937,000	$	0.13				1,987,000	$	0.13

The Company recognized $0 in share based payment expense in the First Quarter 2022 and the First Quarter 2021. At March 31, 2022, there was $0 of unrecognized share based payment expense related to stock options.

Warrants

There was no warrant activity in the First Quarter 2022 or the First Quarter 2021.