Annual report pursuant to Section 13 and 15(d)

Stock Compensation Plan (Tables)

v3.6.0.2
Stock Compensation Plan (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Assumptions Used to Estimate the Fair Value of Stock Options Granted

The following table summarizes the assumptions used to estimate the fair value of stock options granted during the years ended December 31, 2016 and 2015:

 

     2016    2015

Expected dividend yield

   0%    0%

Weighted-average expected volatility

   142% - 147%    147% - 149%

Weighted-average risk-free interest rate

   1.59% - 2.40%    2.14% - 2.27%

Expected life of options

   10 Years    10 Years
Summary of Stock Option Activity

The following table represents stock option activity as of and for the two years ended December 31, 2016 and 2015, respectively:

 

     Number of
Options
     Option
Price Per
Share
     Weighted
Average
Exercise
Price
 

Outstanding at December 31, 2014

     820,865       $ 0.86 - 17.00       $ 4.03   

Forfeited

     (278,334      1.50 - 17.00         5.71   

Granted

     928,500         0.78 - 1.32         1.31   
  

 

 

       

Outstanding at December 31, 2015

     1,471,031       $ 0.78 - 10.40       $ 2.00   

Forfeited

     (574,758      0.84 - 5.40         2.40   

Granted

     725,250         0.55 - 0.84         0.69   
  

 

 

       

Outstanding at December 31, 2016

     1,621,523       $ 0.55 - 10.40       $ 1.28   
  

 

 

       

Exercisable at December 31, 2016

     648,163       $ 0.78 - 10.40       $ 1.75