v3.22.2.2
Stock Options (Tables)
 9 Months Ended
Sep. 30, 2022
Summary of Changes in Stock Options

A continuity of the Company’s outstanding stock options for the nine months ended September 30, 2022 and the year ended December 31, 2021 is presented below:

 

   Number of options   Weighted average
exercise price		 
Outstanding, December 31, 2020   11,900,000    0.11 
Granted   450,000    0.32 
Exercised   (3,910,000)   0.11 
Expired   (150,000)   0.18 
Cancelled   (650,000)   0.16 
Outstanding, December 31, 2021   7,640,000   $0.12 
 Granted   2,560,000    0.22 
Exercised   (785,000)   0.09 
Outstanding, September 30, 2022   9,415,000   $0.15 
Schedule of Stock Options Outstanding and Exercisable

At September 30, 2022 the Company had the following outstanding stock options:

 

Outstanding   Exercise Price   Expiry Date  Vested 
 1,750,000    0.12   October 24, 2023   1,750,000 
 3,800,000    0.13   September 19, 2024   3,800,000 
 640,000    0.06   July 31, 2025   640,000 
 415,000    0.07   December 17, 2022   415,000 
 2,560,000    0.22   July 26, 2025   1,400,000 
 250,000    0.28   June 6, 2026   250,000 
 9,415,000            8,255,000 
Schedule of Weighted Average Assumptions

The fair values for stock options granted have been estimated using the Black-Scholes option pricing model using the following weighted average assumptions:

 

   2022   2021 
Risk-free interest rate   3.05%   33.00 – 79.00%
Expected life (years)   3    3 - 5  
Expected volatility   175%   245 - 257%
Dividend yield   0%   0%
Weighted average fair value per share   0.22   $0.24