Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following is a summary of stock option activity under our stock option plans for 2016 and 2015, and the status of stock options outstanding at December 31, 2016 and 2015:

	Year Ended				Year Ended
	December 31, 2016				December 31, 2015
			Wtd. Avg.				Wtd. Avg.
			Exercise				Exercise
	Shares		Price		Shares		Price
Outstanding at beginning of year		2,555,263	$	1.80		1,390,770	$	1.50
Granted		739,000		1.80		1,300,881		2.06
Exercised		(103,308)		1.22		(131,388)		1.23
Forfeited		(469,856)		2.15		(3,438)		3.77
Expired - vested		(207,238)		1.50		(1,562)		3.77
Outstanding at end of year		2,513,861	$	1.78		2,555,263	$	1.80

Stock options exercisable at year end		1,329,392	$	1.66		1,185,582	$	1.42

Weighted average assumptions of share based payment

The following is a summary of unvested restricted stock activity for 2016 (none in 2015), and the status of unvested restricted stock outstanding at December 31, 2016 and 2015:

	Year Ended
	December 31, 2016
			Wtd. Avg.
			Grant Date
	Shares		Fair Value
Outstanding at beginning of year		––	$	––
Granted		200,000		1.90
Vested		(84,894)		1.90
Forfeited		(16,667)		1.90
Non-vested at end of year		98,439	$	1.90

Stock compensation expense

We recorded stock compensation expense for the years ended December 31, 2016 and 2015, as follows:

	Year Ended December 31,
	2016		2015
Research and development costs	$	151,849	$	80,925
Sales and marketing costs		176,878		78,387
General and administrative costs		426,035		249,331
Cost of product sales		2,794		102,814
Joint venture restructuring charges		19,438		––
Total	$	776,994	$	511,457

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information about stock options outstanding at December 31, 2016:

Range of		Number Outstanding at		Weighted Average Remaining		Weighted Average
Exercise Prices		December 31, 2016		Contractual Life		Exercise Price
$	0.49-$1.00		17,855		2.17	$	0.60
$	1.01-$1.30		631,366		2.80	$	1.14
$	1.31-$2.00		942,739		7.85	$	1.71
$	2.01-$10.75		921,901		8.19	$	2.31
			2,513,861		6.66	$	1.78