Quarterly report pursuant to Section 13 or 15(d)

13. Equity Transactions (Tables)

v3.7.0.1
13. Equity Transactions (Tables)
6 Months Ended
Jun. 30, 2017
Equity Transactions Tables  
Black-Scholes option-pricing model
    Six Months Ended June 30,  
    2017     2016  
Dividend yield     0.0 %     0.0 %
Expected volatility     92.40 %     94.6-96.7 %
Average Risk-free interest rate     2.22 %     1.58 %
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     59,450       1.55    
Exercised     -       -    
Forfeited     (57,138 )     1.59    
Expired     (25,510 )     19.28    
Outstanding at June 30, 2017     2,160,525       2.36   8.15 years
Exercisable at June 30, 2017     712,240       3.89   6.60 years