Quarterly report pursuant to Section 13 or 15(d)

13. Equity Transactions (Tables)

v3.7.0.1
13. Equity Transactions (Tables)
3 Months Ended
Mar. 31, 2017
Equity Transactions Tables  
Black-Scholes option-pricing model
    Three Months Ended March 31,  
    2017     2016  
Dividend yield     0.0 %     0.0 %
Expected volatility     92.40 %     96.70 %
Average Risk-free interest rate (%)     2.27       1.78  
Expected life of stock option term (years)     8.00       8.00  
Stock option activity
    Number of Options     Weighted Average Exercise Price   Weighted Average Remaining Contract Term
Outstanding at December 31, 2016     2,183,723     $ 2.56   8.56 years
Granted     14,000       1.48    
Exercised     -       -    
Forfeited     ( 33,700 )     1.73    
Expired     ( 12,950 )     33.72    
Outstanding at March 31, 2017     2,151,073       2.38   8.33 years
Exercisable at March 31, 2017     698,821       3.97   6.66 years