6. ADDITIONAL PAID-IN CAPITAL (Tables)

12 Months Ended

Dec. 31, 2015

Additional Paid in Capital [Abstract]

Fair value assumptions

	For the years ended December 31,
	2015	2014
Risk-free interest rate	1.0 – 1.1%	0.93 – 0.99%
Expected volatility	73 – 80%	74 – 79%
Expected dividend yield	Nil	Nil
Expected term in years	3.4 – 3.5	3.3
Estimated forfeiture rate	3.4 – 3.6%	3.7%

	For the years ended December 31,
	2015	2014
Risk-free interest rate	n/a	0.99%
Expected volatility	n/a	74-79%
Expected dividend yield	n/a	Nil
Expected term in years	n/a	3.3
Estimated forfeiture rate	n/a	3.7%

Stock option activity

	For the years ended December 31,
	2015		2014
	Number of Stock Options	Weighted Average Exercise Price	Number of Stock Options	Weighted Average Exercise Price
Outstanding, beginning of period	4,345,500	$5.16	4,700,500	$5.51
Granted	999,000	0.45	275,000	1.28
Exercised	(12,600)	0.32	(150,000)	0.50
Cancelled/Expired	(753,200)	3.17	(480,000)	4.52
Outstanding, end of period	4,578,700	$3.99	4,345,500	$5.16
Exercisable, end of period	3,896,500	$4.61	3,950,500	$5.54
Weighted-average fair value per share of options granted during period	$0.24		$0.65

Stock options outstanding

	Outstanding Stock Options			Exercisable Stock Options
Range of Exercise Prices	Number Outstanding	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price	Number Exercisable	Weighted-Average Remaining Contractual Life (in years)	Weighted-Average Exercise Price
$0.32 – $2.00	1,608,700	3.81	$           0.78	926,500	3.41	$         1.01
$2.01 – $4.00	737,000	1.90	3.30	737,000	1.90	3.30
$4.01 – $6.00	943,000	1.05	4.91	943,000	1.05	4.91
$6.01 – $8.00	1,175,000	0.27	7.41	1,175,000	0.27	7.41
$8.01 +	115,000	0.03	10.91	115,000	0.03	10.91
	4,578,700	1.93	$           3.99	3,896,500	1.51	$         4.61

Non-vested Stock option activity

Non-vested Stock Options	Number Outstanding	Weighted Average Grant Date Fair Value
Non-vested at December 31, 2014	395,000	$                    0.71
Granted	999,000	0.24
Vested	(709,100)	0.49
Cancelled/forfeited	(2,700)	0.44
Non-vested at December 31, 2015	682,200	0.25

Exercise price and exercise period

Financing	Investor Warrants	Placement Agent Warrants	Total Warrants	Exercise Price	Expiration Date
September 27, 2013 offering	1,338,688	133,869	1,472,557	$4.15	9/27/16
April 29, 2015 offering	2,615,385	261,539	2,876,924	$0.85	4/29/18
Total Warrants Outstanding as of December 31, 2015			4,349,481

Options and warrants

	For the year ended December 31,		For the year ended December 31, 2014
	2015
	Number of Options and Warrants	Weighted-Average Exercise Price (USD$)	Number of Options and Warrants	Weighted-Average Exercise Price (USD$)
Outstanding, beginning of period	1,472,557	$      4.15	1,472,557	$      4.15
Granted	2,876,924	0.85	-	-
Exercised	-	-	-	-
Expired	-	-	-	-
Outstanding, end of period	4,349,481	$      1.97	1,472,557	$      4.15