Stock-Based Compensation and Warrants (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company utilized the Black-Scholes valuation model for estimating the fair value of the stock options granted, with the following weighted-average assumptions for options granted in the six months ended June 30, 2016 and 2015:

	2016		2015
Risk-free interest rate		1.37%		1.65%
Expected volatility		109%		139%
Expected term in years		6.1		6.1
Dividend yield		-%		-%

Schedule of Share-based Compensation, Stock Options, Activity

The following summary represents option activity under the Company’s stock-based compensation plan for the six months ended June 30, 2016:

			Weighted-
			Average
			Exercise
	Options		Price
	(in thousands)
Outstanding at December 31, 2015		5,752	$	1.05
Granted		1,300		2.55
Outstanding at June 30, 2016		7,052		1.33
Exercisable at June 30, 2016		5,345	$	1.00