Options and Warrants Disclosure
|9 Months Ended|
Sep. 30, 2018
|Options and Warrants Disclosure||
NOTE 13 - OPTIONS AND WARRANTS
On October 29, 2012, our stockholders approved the 2012 Stock Incentive Plan (the Plan) that governs equity awards to our management, employees, directors and consultants. On November 7, 2013, our stockholders approved an amendment to the Plan which increased the total authorized amount of common stock issuable under the Plan from 3,000,000 to 6,000,000 shares. On October 12, 2018, the Company filed a Certificate of Change to the Companys Articles of Incorporation with the Nevada Secretary of State increasing the Companys number of authorized shares from 300,000,000 shares of common stock, par value $0.001 to 600,000,000 shares of common stock, par value $0.001 effective the date of filing.
During the three months ended September 30, 2018, the Company granted 400,000 employee options to purchase shares of common stock at an exercise price of $0.033 per share, with grant date fair values of $0.033. These options vest in equal annual increments over three years and expire ten years from the grant date. Also, during the three months ended September 30, 2018, the Company granted an officer 500,000 options to purchase shares of common stock at an exercise price of $0.04, with a grant date fair value of $0.04. These options vested in full on August 2, 2018 and expire ten years from the grant date.
The following is a summary of the status of the Companys stock options as of September 30, 2018:
Stock-based compensation expense of $23,636 and $25,366 was recognized during the three and nine months ended September 30, 2018, respectively, as amortization of various options over the life of the related vesting periods. The increased amount is due to the immediate vesting of 500,000 options issued to an officer of the Company in August of 2018. Stock-based compensation expense of $5,876 and $37,244 was recognized during the three and nine months ended September 30, 2017, respectively, as amortization of various options over the life of the related vesting periods, and an additional $14,583 was recorded as salary paid in stock in 2017.
The following is a summary of the status of the Companys stock warrants as of September 30, 2018:
The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef