|3 Months Ended|
Mar. 31, 2019
NOTE 14 – STOCK OPTIONS
During the three months ended March 31, 2018, the Company granted options to purchase 1.45 million shares of common stock to the Company’s board members at exercise prices ranging from $0.14 to $0.77, vesting over a six-month period, and expiring between December 2020 and December 2022. The fair value of these options on grant date of approximately $458,000 was amortized over the vesting periods, with approximately $366,000 incurred during the three months ended March 31, 2018. No stock options were granted in 2019.
During the three months ended March 31, 2019 and 31, options to purchase 400,000 and 300,000 shares of common stock, respectively, were exercised at exercise prices ranging from $0.08 to $0.77 per share in 2019, and $0.13 per share in 2018. Of the options exercised in 2019, 350,000 were cashless exercises, with the exercise price paid via the surrender of 139,985 shares of common stock.
During the three months ended March 31, 2018, options to purchase 300,000 were forfeited. There were no forfeitures in 2019
Stock options outstanding and exercisable as of March 31, 2019 were: