XML 28 R16.htm IDEA: XBRL DOCUMENT v3.5.0.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based Compensation Arrangement by Share-based Payment Award Options and Warrants Vested and Expected to Vest Outstanding and Exercisable [Table Text Block]
The fair value of each option or warrant granted is estimated on the date of grant using the Black-Scholes option pricing model. The Black-Scholes assumptions used in the three and six months ended June 30, 2016 and 2015 are as follows:
 
 
 
Three months ended June 30,
 
Six months ended June 30,
 
 
 
2016
 
2015
 
2016
 
2015
 
Exercise price
 
$2.20 - $2.66
 
$2.04 - $2.73
 
$1.08 - $2.66
 
$1.54 - 2.73
 
Expected dividends
 
0%
 
0%
 
0%
 
0%
 
Expected volatility
 
102% - 115%
 
88% - 128%
 
102% - 117%
 
88% - 131%
 
Risk free interest rate
 
1.41% - 1.57%
 
1.32% - 2.19%
 
1.40% - 1.57%
 
1.32% - 2.19%
 
Expected life of option
 
7 years
 
5 years - 10 years
 
7 years
 
5 years - 10 years
 
Schedule Of Share-Based Compensation, Stock Options, Activity [Table Text Block]
A summary of stock option activities as of June 30, 2016, and for the year ended December 31, 2015, is as follows:
 
 
 
 
 
 
Weighted
 
Weighted Average
 
Aggregate
 
 
 
 
 
 
Average Exercise
 
Remaining
 
Intrinsic
 
 
 
Options
 
Price
 
Contractual Life
 
Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance - December 31, 2014
 
 
5,981,106
 
$
2.01
 
5.80 years
 
$
685,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
3,781,666
 
$
2.37
 
 
 
 
 
 
Exercised
 
 
(35,008)
 
$
1.16
 
 
 
$
44,000
 
Expired
 
 
(483,332)
 
$
2.48
 
 
 
 
 
 
Forfeited
 
 
(302,502)
 
$
1.91
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance - December 31, 2015
 
 
8,941,930
 
$
2.14
 
5.80 years
 
$
2,900,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
560,000
 
$
2.01
 
 
 
 
 
 
Exercised
 
 
(442,834)
 
$
1.83
 
 
 
$
136,913
 
Expired
 
 
(249,502)
 
$
1.93
 
 
 
 
 
 
Forfeited
 
 
(196,181)
 
$
2.34
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance -June 30, 2016 - outstanding
 
 
8,613,413
 
$
2.15
 
5.42 years
 
$
1,316,398
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance - June 30, 2016 - exercisable
 
 
5,048,957
 
$
2.01
 
4.58 years
 
$
1,136,604
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Grant date fair value of options granted - June 30, 2016
 
 
 
 
$
962,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average grant date fair value - June 30, 2016
 
 
 
 
$
1.72
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Grant date fair value of options granted - December 31, 2015
 
 
 
 
$
7,974,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average grant date fair value - December 31, 2015
 
 
 
 
$
2.12