Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.19.2
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of fair value assumptions for stock-options

The fair value of the stock-options granted during 2018 and 2019 were determined using the Black Scholes valuation model with the following key assumptions:

 

Date of Grant   May 1, 2018     June 1, 2018     January 2, 2019  
Number of Stock Options Granted     500,000       67,500,000       1,000,000  
Stock Price   $ 0.065     $ 0.075     $ 0.045  
Exercise Price   $ 0.065     $ 0.075     $ 0.045  
Expected Life of Options     4.25 years       4.25 years       3.75 years  
Risk Free Rate     2.74 %     2.675 %     2.51 %
Volatility     145.21 %     145.21 %     126.37 %
Schedule for summary of stock options activity

The following table summarizes the Company’s stock option activity during the nine months ended June 30, 2019:

 

Number
of Options
Weighted
Average
Exercise Price
Weighted Average
Remaining
Contractual Term
(In years)
Outstanding at September 30, 2018 103,500,000 $ 0.0605
Granted 1,000,000 0.0450
Exercised
Cancelled
Outstanding at June 30, 2019 104,500,000 $ 0.0604 5.82
Vested and expected to vest 104,500,000 $ 0.0604 5.82
Exercisable at June 30, 2019 79,000,000 $ 0.0559 5.82