Table:
| Nonvested Options | Option | Weighted-Average Exercise Price |
| --- | --- | --- |
| Nonvested at December, 2017 | 1,492,861 | $1.54 |
| Granted | 280,000 | $1.75 |
| Vested | (972,651) | $1.29 |
| Forfeited |  |  |
| Nonvested at December, 2018 | 800,210 | $1.63 |
| Granted | 126,567 | $1.15 |
| Vested | (584,895) | $1.46 |
| Forfeited | (137,500) | $1.75 |
| Nonvested at December, 2019 | 204,382 | $1.74 |
Paragraphs:
A summary of the status of the Company’s nonvested options as of December 31, 2019, and changes during the year ended December 31, 2019, is presented below
As of December 31, 2019, the Company had 3,835,366 shares issuable under options outstanding at a weighted average exercise price of $1.34 and an intrinsic value of
$635,536.
As of December 31, 2019, the Company had 3,846,299 shares issuable under options outstanding at a weighted average exercise price of $1.36 and an intrinsic value of
$2,150,912.
The total number of options granted during the year ended December, 2019 and 2018 was 126,567 and 280,000, respectively. The exercise price for these options was $1.00 per share, $1.25 per share, or $1.75 per share.
The Company recognized compensation expense related to options issued of $797,761 and $1,130,071 during the year ended December 31, 2019 and 2018, respectively,
which is included in general and administrative expenses and research and development expenses. For the year ended December 31, 2019, $562,734 of the stock compensation
was related to employees and $235,027 was related to non-employees.
On January 24, 2018, the Company entered into a consulting agreement (the “Agreement”) with NeuroAssets Sàrl (“Consultant”), a Swiss company. As part of the
agreement, on February 20, 2018, the Compensation Committee of the Company’s Board of Directors approved a grant of 200,000 options under our 2016 Equity Compensation
Plan. The options vest over 48 months in equal monthly installments with the first monthly vesting event scheduled to occur on March 20, 2018, have a term of ten years and
are exercisable at a price of $1.75 per share. The vesting of the options will accelerate if a corporate partnership results from an introduction made by Consultant.
On January 24, 2018, the Company entered into a consulting agreement (the “Agreement”) with NeuroAssets Sàrl (“Consultant”), a Swiss company. As part of the agreement, on February 20, 2018, the Compensation Committee of the Company’s Board of Directors approved a grant of 200,000 options under our 2016 Equity Compensation Plan. The options vest over 48 months in equal monthly installments with the first monthly vesting event scheduled to occur on March 20, 2018, have a term of ten years and are exercisable at a price of $1.75 per share. The vesting of the options will accelerate if a corporate partnership results from an introduction made by Consultant.
During the first quarter of 2018 the Company granted 80,000 stock options to four consultants. 50,000 of these options vest immediately and the remaining 30,000
options vest monthly over 48 months, have an exercise price of $1.75, and have a term of ten years
As of December 31, 2019, the unamortized stock option expense was $287,905 with $144,423 being related to employees and $143,482 being related to non-employees.
As of December 31, 2019, the weighted average period for the unamortized stock compensation to be recognized is 3.98 years
On February 25, 2019, the Company granted 101,567 options with an exercise price of $1.00 and a ten year term. 59,900 of these options vest immediately and 41,667
vest bi-weekly over two months. These options have a Black-Scholes value of $199,807. The Company issued 59,900 options for settlement of accounts payable totaling
$29,850 and recorded a loss of $99,541 on the settlement of the accounts payable
On February 25, 2019, the Company granted 101,567 options with an exercise price of $1.00 and a ten year term. 59,900 of these options vest immediately and 41,667 vest bi-weekly over two months. These options have a Black-Scholes value of $199,807. The Company issued 59,900 options for settlement of accounts payable totaling $29,850 and recorded a loss of $99,541 on the settlement of the accounts payable.
On June 17, 2019, the Company granted 25,000 options with an exercise price of $1.75 and a ten year term. These options vest immediately and have a Black-Scholes
value of $36,374
Question:
What is the number of nonvested options at December 31, 2017?
Answer: 1,492,861