Annual report pursuant to Section 13 and 15(d)

4. Stock-Based Compensation (Tables)

v3.3.1.900
4. Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Stock-based Compensation Tables  
Stock Option Activity
    Number of Options     Weighted Average Exercise Price   Weighted Average Remaining Contract Term
               
Outstanding at December 31, 2013     351,439     $ 16.29   7.81 years
Granted     283,440     $ 3.92    
Exercised     -     $ 0.00    
Forfeited     (14,439 )   $ 4.40    
Expired     (12,563 )   $ 150.73    
Outstanding at December 31, 2014     607,877     $ 8.00   8.08 years
Granted     614,730     $ 2.44    
Exercised     -     $ -    
Forfeited     (53,280 )   $ 3.81    
Expired     (11,076 )   $ 32.71    
Outstanding at December 31, 2015     1,158,251     $ 4.96   8.43 years
Exercisable at December 31, 2015     351,988     $ 9.84   6.40 years
Black-Scholes option-pricing model
    Year Ended December 31,  
    2015     2014  
Dividend yield (%)*     0.0       0.0  
Expected volatility (%)     132.99       106.2  
Average Risk-free interest rate (%)     1.78 - 2.25       1.97  
Expected life of stock option term (years)     8.43       8.0  

 

*The dividend yield is zero as the Company has never paid and does not expect to pay dividends.

Stock Options Outstanding
Stock Options Outstanding     Stock Options Exercisable  
Range of Exercise Prices     Options Outstanding     Weighted Average Remaining Contractual Life (Years)     Weighted Average Exercise Price     Aggregate intrinsic Value     Options Exercisable     Weighted Average Remaining Contractual Life (Years)     Weighted Average Price     Aggregate intrinsic Value  
$1.99 to $3.00       491,730       9.79     $ 2.17               30       5.78     $ 3.00          
$3.06 to $4.60       517,343       8.28       3.82               220,611       7.78       3.99          
$4.70 to $7.50       110,106       5.61       5.88               92,275       5.22       5.78          
$9.00 to $15.50       15,540       2.25       15.43               15,540       2.25       15.43          
$19.50 to $34.50       12,730       1.25       34.38               12,730       1.25       34.38          
$37.50 to $114.00       3,500       0.46       113.78               3,500       0.46       113.78          
$122.97 to $139.99       7,302       0.18       133.41               7,302       0.18       133.41          
        1,158,251       8.43     $ 4.96     $ 564,609       351,988       6.40     $ 9.84     $ 9.60