Quarterly report pursuant to Section 13 or 15(d)

EQUITY (Tables)

v3.10.0.1
EQUITY (Tables)
9 Months Ended
Sep. 30, 2018
Schedule of stock options outstanding

The following table summarizes the shares of the Company’s common stock issuable upon exercise of options outstanding at September 30, 2018:

 

Options Outstanding     Options Exercisable  
Range of Exercise Price     Number Outstanding at September 30, 2018     Range of Weighted Average Remaining Contractual Life (Years)     Weighted Average Exercise Price     Number Exercisable at September 30, 2018     Weighted Average Exercise
Price
 
$ 0.50       2,000,000       8.36     $ 0.50       1,111,111     $ 0.50  
  1.49       60,000       3.58       1.49       60,000       1.49  
  1.00       50,000       4.09       1.00       40,000       1.00  
  1.00       180,000       2.09       1.00       180,000       1.00  
  2.50       120,000       4.25       2.50       90,000       2.50  
  1.00       180,000       2.58       1.00       90,000       1.00  
  2.30       20,000       4.68       2.30       10,000       2.30  
  2.30       20,000       4.76       2.30       10,000       2.30  
  2.80       20,000       4.83       2.80       10,000       2.80  
  2.80       20,000       4.87       2.80       6,667       2.80  
$ 0.50–2.80       2,670,000       7.07     $ 0.75       1,607,778     $ 0.79  
Schedule of stock warrants activities

Stock warrants activities during the nine months ended September 30, 2018 were as follows:

 

    Number of Warrants     Weighted Average Exercise Price  
Outstanding at December 31, 2017         $  
Issued     578,891       1.28  
Exercised            
Outstanding and exercisable at September 30, 2018     578,891     $ 1.28  
Schedule of warrants outstanding and exercisable

The following table summarizes the shares of the Company’s common stock issuable upon exercise of warrants outstanding and exercisable at September 30, 2018:

 

  Warrants Outstanding and Exercisable  
  Range of Exercise Price       Number Outstanding at September 30, 2018       Range of Weighted Average Remaining Contractual Life (Years)       Weighted Average Exercise Price  
$ 1.00       360,500       4.50     $ 1.00  
  1.62       151,235       4.55       1.62  
  1.85       5,960       4.57       1.85  
  1.90       36,750       4.59       1.90  
  2.24       24,446       4.65       2.24  
$ 1.00 – 2.24       578,891       4.53     $ 1.28  
Employee Stock Option [Member]  
Schedule of stock option activities

Employee and director stock option activities for the nine months ended September 30, 2018 were as follows:

 

    Number of Options     Weighted Average Exercise Price  
Outstanding at December 31, 2017     2,110,000     $ 0.54  
Granted     180,000       2.49  
Exercised            
Outstanding at September 30, 2018     2,290,000       0.69  
Options exercisable at September 30, 2018     1,331,111     $ 0.74  
Options expected to vest     958,889     $ 0.63  
Schedule of fair value of the options using the Black-Scholes option-pricing model

The fair values of these options granted to employee and director during the nine months ended September 30, 2018 were estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:

 

Dividend rate 0
Terms (in years) 5.0
Volatility 167.86 - 185.28%
Risk-free interest rate 2.25% - 2.85%
Schedule of non vested stock option activities

A summary of the status of the Company’s nonvested employee and director stock options granted as of September 30, 2018 and changes during the nine months ended September 30, 2018 is presented below:

 

      Number of Options     Weighted Average Exercise Price     Grant Date Fair Value  
Nonvested at December 31, 2017       1,428,889     $ 0.51     $ 1,876,079  
Granted       180,000       2.49       446,911  
Vested       (650,000 )     (0.89 )     (1,029,172 )
Forfeited                    
Nonvested at September 30, 2018       958,889     $ 0.63     $ 1,293,818  

 

Non Employee Stock Option [Member]  
Schedule of stock option activities

Non-employee stock option activities for the nine months ended September 30, 2018 were as follows:

 

    Number of Options     Weighted Average Exercise Price  
Outstanding at December 31, 2017     180,000     $ 1.00  
Granted     200,000       1.18  
Exercised            
Outstanding at September 30, 2018     380,000       1.09  
Options exercisable at September 30, 2018     276,667     $ 1.04  
Options expected to vest     103,333     $ 1.23  
Schedule of fair value of the options using the Black-Scholes option-pricing model

The fair values of these non-employee options vested in the nine months ended September 30, 2018 and nonvested non-employee options as of September 30, 2018 were estimated using the Black-Scholes option-pricing model with the following assumptions:

 

Dividend rate 0
Terms (in years) 2.51 - 5.0
Volatility 160.53% - 188.29%
Risk-free interest rate 2.29% - 2.94%
Schedule of non vested stock option activities

A summary of the status of the Company’s nonvested non-employee stock options granted as of September 30, 2018 and changes during the nine months ended September 30, 2018 is presented below:

 

      Number of Options     Weighted Average Exercise Price     Fair Value at
September 30, 2018
 
Nonvested at December 31, 2017       180,000     $ 1.00          
Granted       200,000       1.18          
Vested       (276,667 )     (1.04 )        
Forfeited                      
Nonvested at September 30, 2018       103,333     $ 1.23     $ 251,063