Annual report pursuant to Section 13 and 15(d)

STOCK OPTIONS AND WARRANTS (Details 2)

v3.20.2
STOCK OPTIONS AND WARRANTS (Details 2) - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Expected Term (in Years)       3 years 9 months
Volatility 123.00% 123.00%    
Risk free Rate 2.80% 2.80%    
Dividend Yield 0.00% 0.00% 0.00% 0.00%
Suboptimal Exercise Factor [1] 1.30% 1.30% 0.00% 0.00%
Exit Rate Pre-Vesting [2] 0.00% 0.00% 0.00% 0.00%
Exit Rate Post Vesting [3] 0.00% 0.00% 0.00% 0.00%
Aggregate Grant Date Fair value $ 326,644 $ 396,074 $ 12,737 $ 19,038
Minimum        
Expected Term (in Years) 2 years 2 years 3 years  
Volatility     175.00% 142.00%
Risk free Rate     1.90% 1.40%
Maximum        
Expected Term (in Years) 5 years 5 years 3 years 9 months  
Volatility     189.00% 156.00%
Risk free Rate     2.00% 2.00%
[1] The suboptimal exercise factor estimates the value realized by the holder upon exercise of the option and the estimated point at which an option holder would exercise an in-the-money option. The Company estimated the suboptimal factor based on the holder realizing a pre-tax profit of $500,000. Used for lattice model purposes only.
[2] Assumed forfeiture rate for market condition option awards prior to vesting. Used for lattice model purposes only.
[3] Assumed expiration or forfeiture rate for market condition option awards after vesting. Used for lattice model purposes only.