Stock Options

9 Months Ended

Sep. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

NOTE 8 – STOCK OPTIONS

2012 Plan

There were no options granted during the nine months ended September 30, 2017 and 2016. As of September 30, 2017, 4,330,000 options were outstanding of which 2,330,000 are fully vested. During the nine months ended September 30, 2017, fully vested options awarded to a terminated employee expired to purchase 60,000 shares.

A summary of stock option activity for the nine months ended September 30, 2017 is as follows:

Outstanding

Stock Options

Weighted-Average

Exercise Price

Aggregate

Intrinsic Value (1)

Balance as of December 31, 2016

4,390,000

1.12

Expired

(60,000

)

0.38

Balance as of September 30, 2017

4,330,000

0.42

Exercisable as of September 30, 2017

2,330,000

0.73

Equity awards available for grant, net of restricted stock (811,576) at September 30, 2017

4,858,424

(1)	Amounts represent the difference between the exercise price and the fair value of common stock at period end for all in the money options outstanding based on the fair value per share of common stock.

As of September 30, 2017, the Company expects to recognize $37,333 of, compensation through March 31, 2019 related to the vesting of stock options.

2016 Incentive Plan

There were no options granted during the nine months ended September 30, 2017 and 2016, respectively. As of September 30, 2017, 2,250,000 options were outstanding and are fully vested.

A summary of stock option activity for the nine months ended September 30, 2017 is as follows:

Outstanding

Stock Options

Weighted-Average

Exercise Price

Aggregate

Intrinsic Value (1)

Balance as of December 31, 2016

2,250,000

0.17

Balance as of September 30, 2017

2,250,000

0.17

Exercisable as of September 30, 2017

2,250,000

0.17

Plastic2Oil, Inc. 10-Q