Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.7.0.1
SHAREHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2017
Stockholders' Equity Note [Abstract]  
Schedule of Assumptions Used in Valuing Stock Options

No options were granted during the three months ended March 31, 2017.


 

 

Three Months Ended

March 31,

 

Assumptions:

 

2017

 

 

2016

 

Expected term (years)

 

 

 

 

 

6.8

 

Expected volatility

 

 

%

 

 

66

%

Risk-free interest rate

 

 

%

 

 

0.1 – 2.07

%

Dividend yield

 

 

%

 

 

0

%

Expected forfeiture rate

 

 

%

 

 

0

%

Summary of Stock Option Activity

A summary of the Company's stock option activity during the three months ended March 31, 2017 is presented below:


 

 

Number of

Options

 

 

Weighted Average

Exercise

Price

 

 

Weighted Average

Remaining

Contractual

Term

 

 

Aggregate

Intrinsic

Value

 

Balance Outstanding, December 31, 2016

 

 

2,281,000

 

 

$

0.47

 

 

 

6.8

 

 

$

795,185

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, March 31, 2017

 

 

2,281,000

 

 

$

0.47

 

 

 

6.6

 

 

$

775,585

 

Exercisable at March 31, 2017

 

 

1,508,000

 

 

$

0.32

 

 

 

5.3

 

 

$

719,373

Schedule of options outstanding under the option plans

Summarized information with respect to options outstanding under the two option plans at March 31, 2017 is as follows:


 

 

Options Outstanding

 

Options Exercisable

Range or

Exercise Price

 

Number

Outstanding

 

Remaining

Average

Contractual

Life (In Years)

 

Weighted

Average

Exercise

Price

 

Number

Exercisable

 

Weighted

Average

Exercise

Price

0.14 - 0.24

 

720,000

 

1.2

 

$

0.14

 

720,000

 

$

0.14

0.25 - 0.49

 

351,000

 

.98

 

$

0.28

 

324,000

 

$

0.28

0.50 - 0.85

 

1,210,000

 

4.5

 

$

0.70

 

464,000

 

$

0.61

 

 

2,281,000

 

6.6

 

$

0.47

 

1,508,000

 

$

0.32