NOTE 5 – EQUITY

Common Stock Warrants

Below is a table summarizing the warrants issued and outstanding as of June 30, 2019 (“Price” reflects the weighted average exercise price per share):

As of June 30, 2019, the warrants have a weighted average remaining term of 2.70 years and have no intrinsic value.

Stock Based Compensation

The Company’s Consolidated 2016 Stock Plan (“the Plan”) provides for granting stock options and restricted stock awards to employees, directors and consultants of the Company. The Company uses the Black-Scholes pricing model for determining the fair value of stock options and warrants granted as share based compensation.

Warrants. During the nine month period ended June 30, 2019, the Company did not recognize any expense related to warrants granted as stock based compensation. There is no unamortized expense as of June 30, 2019 for outstanding warrants issued as stock based compensation. Refer to the Common Stock Warrants table within this note for information regarding all outstanding warrants.

Options. During the nine month period ended June 30, 2019, the Company recognized $213,739 of expense related to options granted in prior years. Unamortized option expense as of June 30, 2019 for all options outstanding amounted to $72,268. The Company expects to recognize this compensation cost over a weighted-average period of .22 years.

Below is a table summarizing the Company’s activity for the nine month period ended June 30, 2019 (“Price” reflects the weighted average exercise price per share):

As of June 30, 2019, the outstanding options have a weighted average remaining term of 3.28 years and no intrinsic value.

Restricted Stock. During the nine month period ended June 30, 2019, the Company did not recognize any expense related to restricted stock awards. As of June 30, 2019, all restricted stock shares are fully vested, and there is no remaining unamortized expense.