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