Note 9 - Share Based Compensation
|9 Months Ended|
Sep. 30, 2018
|Note 9 - Share Based Compensation||
NOTE 9 SHARE BASED COMPENSATION
During the year ended December 31, 2017, the Company issued 5-year options to purchase 5,570,000 shares of common stock to employees and directors under the 2017 Stock Incentive Plan. The options were valued at $1,557,089 using the Black-Scholes pricing model. During the nine months ended September 30, 2018, the Company issued 5-year options to purchase 4,740,200 shares of common stock to an employee under the 2017 Stock Incentive Plan and cancelled 277,173 unvested options. The issued options were valued at $1,127,292 using the Black-Scholes pricing model. As of September 30, 2018, the total unrecognized expense for unvested share based compensation was $1,835,557. The 2017 Stock Incentive Plan allows for a maximum 25,000,000 shares to be issued, of which 14,966,973 shares remain available for issuance as of September 30, 2018.
The fair values at the commitment date for the options were based upon the following management assumptions as of September 30, 2018:
The activity of options granted to during the nine months ended September 30, 2018 is as follows:
The weighted average fair value per option issued during the nine months ended September 30, 2018 and the year ended December 31, 2017 was $0.23 and $0.28, respectively.
The following table summarizes non-vested option activity during the nine months ended September 30, 2018:
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef