Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

v3.7.0.1
SHAREHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2017
Stockholders' Equity Note [Abstract]  
Schedule of Assumptions Used in Valuing Stock Options

No options were granted during the six months ended June 30, 2017.


 

 

Six Months Ended

June 30,

 

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 six months ended June 30, 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

 

 

(104,000

)

 

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, June 30, 2017

 

 

2,177,000

 

 

$

0.47

 

 

 

6.6

 

 

$

775,585

 

Exercisable at June 30, 2017

 

 

1,515,000

 

 

$

0.31

 

 

 

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 June 30, 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

 

1.1

 

$

0.14

 

720,000

 

$

0.14

0.25 - 0.49

 

351,000

 

.8

 

$

0.28

 

351,000

 

$

0.28

0.50 - 0.85

 

1,106,000

 

4.0

 

$

0.69

 

444,000

 

$

0.60

 

 

2,177,000

 

5.9

 

$

0.45

 

1,515,000

 

$

0.31