Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

The following tables summarize information about stock options and RSU activity during the year ended December 31, 2017:

	RSUs				Options
	No. of RSUs		Weighted average grant date fair value		No. of options		Weighted average exercise price		Exercise price range		Weighted average grant date fair value
Outstanding as of January 1, 2017		—		—		3,679,101	$	7.60	$	1.55 – 55.00	$	5.41
Granted		400,942	$	2.12		1,595,000	$	2.09	$	1.10 – 2.15	$	0.92
Vested/Exercised		—		—		—		—		—		—
Forfeited		(35,377)	$	2.12		(939,791)	$	6.52	$	1.55 – 41.00	$	4.29
Expired		—		—		(16,368)	$	43.66	$	9.94 – 55.00	$	22.02
Outstanding as of December 31, 2017		365,565	$	2.12		4,317,942	$	5.67	$	1.10 – 41.00	$	3.86
Exercisable as of December 31, 2017		—				3,011,692	$	7.33	$	1.55 – 41.00

	Non-vested stock options:				Non-vested RSU:
	No. of options		Weighted average grant date fair value		No. of RSUs		Weighted average grant date fair value
Balance at January 1, 2017		2,011,667	$	1.78		—	$	—
Granted		1,595,000	$	0.92		400,942	$	2.12
Vested		(1,609,792)	$	1.20		—		—
Forfeited		(690,625)	$	1.33		(35,377)	$	2.12
Balance at December 31, 2017		1,306,250	$	1.19		365,565	$	2.12

The following table summarizes information about employee and non-employee stock options outstanding as of December 31, 2017:

Exercise price range		No. options outstanding		No. options exercisable		Weighted average remaining contractual life (years)
$	0.01-10.00		3,786,376		2,480,126		5.92
$	10.00-20.00		65,566		65,566		0.20
$	20.00-30.00		40,000		40,000		5.57
$	30.00-40.00		369,500		369,500		5.35
$	40.00-50.00		56,500		56,500		6.14
			4,317,942		3,011,692

The following table illustrates the stock options granted during the year ended December 31, 2017:

Title

Grant date

No. of
options

Exercise
price

Fair market value at
grant date

Vesting terms

Assumptions used in
Black-Scholes option pricing
model

Directors, management, and employees

January 2017

1,545,000

$2.12 – $2.15

$0.89 – $0.96

Over one year for directors; Over three years for management and employees

Volatility: 44.27% – 44.90%
Risk free interest rate: 1.95% – 2.16%
Expected term, in years: 5.29 – 5.79
Dividend yield: 0.00%

Consultant

December 2017

50,000

$1.10

$0.65

Over three years

Volatility: 48.33%
Risk free interest rate: 2.35%
Expected term, in years: 10.00
Dividend yield: 0.00%

The following table illustrates the RSUs granted during the year ended December 31, 2017.

Title		Grant date		No. of RSUs			Fair market value at grant date			Vesting term
Management and employees		January 2017			400,942		$	2.12		Over one year, vesting on one-year anniversary of grant date