Warrants
 12 Months Ended
Dec. 31, 2019
Warrants and Rights Note Disclosure [Abstract]  
Warrants

Note 11. Warrants

 

During the twelve months ended December 31, 2019, the Company had no Warrant activity. For the 12 months ending December 31, 2018, approximately $81,400 in Settlement and Warrant Expense was recognized on the following:

 

On November 8, 2018, as part of the units purchased by the private placement participants and the SOR settlement shareholders, warrants to purchase 172,000 share of the Company’s common stock were granted. These warrants are immediately vested, are exercisable at an exercise price of $2.40 per share and expire on November 7, 2021.

 

The following table summarizes the assumptions used to estimate the fair value of the warrants to purchase 172,000 shares granted during 2018 as of re-measurement dates:

 

    2018  
Expected Volatility     40 %
Risk Free Interest Rate     2.84 %
Expected life of warrants     3.0  

 

The following table represents warrant activity for the period ending December 31, 2019 and 2018:

 

    Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life in Years     Aggregate Intrinsic Value  
Outstanding - December 31, 2017     0     $ -                  
Granted     353,250     $ 2.40                  
Outstanding - December 31, 2018     353,250     $ 2.40       3.00          
Exercisable - December 31, 2018     353,250     $ 2.40       2.85     $ -  
Granted     -     $ -                  
Forfeited or Expired     -                          
Outstanding - December 31, 2019     353,250     $ 2.40       2.00          
Exercisable - December 31, 2019     353,250     $ 2.40       1.85     $ -