Annual report pursuant to Section 13 and 15(d)

4. Stock-Based Compensation (Tables)

v3.6.0.2
4. Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Stock-based Compensation Tables  
Stock Option Activity
    Number of Options Weighted Average Exercise Price Weighted Average Remaining Contract Term
Outstanding at December 31, 2014   607,877   8.00   8.08 years
Granted   614,730   2.44    
Exercised       0.00    
Forfeited   (53,280)   3.81    
Expired   (11,076)   32.71    
Outstanding at December 31, 2015   1,158,251   4.96   8.43 years
Granted   1,135,650   1.31    
Exercised            
Forfeited   (89,826)   2.51    
Expired   (20,352)   69.46    
Outstanding at December 31, 2016   2,183,723   2.56   8.56 years
Exercisable at December 31, 2016   689,963   4.52   6.85 years

Black-Scholes option-pricing model
  Year Ended December 31,
  2016   2015
Dividend yield 0.0%   0.0%
Expected volatility 92.40%   132.99%
Average Risk-free interest rate (%) 1.21-2.23    1.78-2.25
Expected life of stock option term (years) 6.86-8.00   8.43

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
$1.26 to $1.91 1,130,250 9.64 1.31     0 0 0  
$1.93 to $2.94 421,950 8.73 2.14     186,995 8.71 2.12  
$3.00 to $4.50 496,813 7.22 3.83     375,818 7 3.91  
$4.70 to $7.50 106,440 4.69 5.89     98,880 4.5 5.84  
$9.00 to $15.50 15,530 1.25 15.43     15,530 1.25 15.43  
$19.50 to $34.50 12,730 0.25 34.38     12,730 0.25 34.38  
$37.50 to $37.50 10 0.31 37.5     10 0.31 37.5  
  2,183,723 8.56 2.56 242,945   689,963 6.85 4.52 196,587