Quarterly report pursuant to Section 13 or 15(d)

11. Stockholders' Equity

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11. Stockholders' Equity
9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Stockholders' Equity

Note 11 – Stockholders’ Equity

 

Shares authorized

 

Upon formation the total number of shares of all classes of stock which the Company is authorized to issue is seventy-five million (75,000,000) shares of common stock, par value $0.001 per share.

 

Common stock

 

As of September 30, 2019 the Company had 40,959,741 shares of common stock issued and outstanding.

 

During the three months ended September 30, 2019, the Company did not have any transaction in its common stock

 

During the nine months ended September 30, 2018, the Company had the following transactions in its common stock:

 

Shares issued for acquisition of AVX: 39,286 shares

 

Shares issued for compensation: 13,445 shares

 

Stock options

 

On August 6, 2019, each member of the Board was granted 30,000 options to purchase shares at $5.70 per share. As of September 30, 2019, there were 2,100,000 outstanding stock options. There were no outstanding stock options as of December 31, 2018.

 

Options   Shares     Weight average exercise price  
Outstanding at January 1, 2019            
Granted     2,100,000     $ 5.70  
Exercised            
Forfeited or expired            
Outstanding at September 30, 2019     2,100,000     $ 5.70  
Exercisable at September 30, 2019     2,100,000     $ 5.70