STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

We used the Black-Scholes model with the following assumptions to determine the total fair value of $35,000 for options to purchase 280,000 shares of our common stock issued during 2016. No options were granted in 2017 and at December 31, 2017 no options remained available to grant under the Plans.

 

	2016
Risk free interest rate	1.5%
Volatility	100%
Expected term	4.5 Years
Dividend yield	0%

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of option activity under our stock option plans for the years ended December 31, 2017 and 2016 is as follows:

	2017							2,016
	Number of Options		Weighted average exercise price		Number of Options		Weighted average exercise price		Weighted average remaining contractual term (years)
Options outstanding at the beginning of the year:		3,611,706	$	0.37		4,162,706	$	0.81
Granted		-				280,000	$	0.86
Exercised		-				-
Expired/Forfeited		(95,000)	$	1.49		(831,000)	$	2.47
Outstanding at end of year		3,516,706	$	0.34		3,611,706	$	0.37		4.72
Options exercisable at year-end		3,516,706	$	0.34		3,611,706	$	0.37		4.72
Options vested and expected to vest at year end		3,516,706	$	0.34		3,611,706	$	0.37		4.65