5. ADDITIONAL PAID-IN CAPITAL (Tables)

9 Months Ended

Sep. 30, 2016

Additional Paid in Capital [Abstract]

Fair value assumptions

Risk-free interest rate	1.0% - 1.1%
Expected volatility	73.4% - 79.7%
Expected dividend yield	nil
Expected term in years	3.4
Estimated forfeiture rate	3.4% - 3.6%

Stock option activity

	2016		2015
	Number of Stock Options	Weighted Average Exercise Price	Number of Stock Options	Weighted Average Exercise Price
Outstanding, beginning of period	4,578,700	$ 3.99	4,345,500	$ 5.16
Granted	-	-	999,000	0.45
Cancelled/Expired	(1,938,300)	6.70	(752,000)	3.17
Exercised	-	-	(12,600)	0.32
Outstanding, end of period	2,640,400	$ 2.25	4,579,900	$ 4.09
Exercisable, end of period	2,440,360	$ 2.39	3,702,500	$ 4.94
Weighted-average fair value per share of options granted during period	n/a		$            0.24