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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Summary of Weighted Average Assumptions Used for Calculating Per Share Weighted Average Fair Value of Stock Options

We calculated the fair value of each option award on the date of grant using the Black-Scholes option pricing model.  There were no stock options granted during 2017. The per share weighted average fair value of the stock options granted to employees during 2016 was $2.63.  The following weighted average assumptions were used for each respective period:

 

 

 

 

2016

 

Expected term

 

 

 

7

 

Dividends to common stockholders

 

 

None

 

Risk-free interest rate

 

 

1.45%

 

Expected volatility

 

 

 

115.39

 

 

Summary of Stock Options

Stock options have only been granted to employees or directors. Our stock options have various vesting schedules and are subject to the employees’ continuing service. A summary of the status of our stock options, as of December 31, 2017 and 2016, and changes during the years ended December 31, 2017 and 2016, is presented below (in thousands, except per share data and contractual life):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

Aggregate

 

 

Remaining

 

 

 

 

 

 

Exercise

 

 

Intrinsic

 

 

Contractual

 

 

Shares

 

 

Price

 

 

Value

 

 

Life (Years)

 

Outstanding at December 31, 2015

 

128

 

 

 

11.25

 

 

 

 

 

 

 

 

 

Granted

 

315

 

 

 

3.06

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

(35

)

 

 

18.31

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2016

 

408

 

 

$

4.32

 

 

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

(15

)

 

 

26.07

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2017

 

393

 

 

$

3.48

 

 

$

 

 

 

7.5

 

Exercisable at December 31, 2017

 

343

 

 

$

3.56

 

 

$

 

 

 

7.0

 

 

Summary of Stock Options Outstanding and Exercisable

The following table summarizes information about our stock options outstanding and exercisable at December 31, 2017 (in thousands, except per share data and contractual life):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

 

 

 

 

Average

 

 

 

Vested

 

 

Unvested

 

 

Exercise

 

 

Contractual

 

 

Options

 

 

Exercise

 

Range of Exercise Prices

 

Options

 

 

Options

 

 

Price

 

 

Life (Years)

 

 

Exercisable

 

 

Price

 

$1.03 - 2.99

 

 

45

 

 

 

50

 

 

$

2.68

 

 

 

8.4

 

 

 

45

 

 

$

2.33

 

3.00 - 4.99

 

 

273

 

 

 

 

 

 

3.21

 

 

 

7.6

 

 

 

273

 

 

 

3.21

 

5.00 - 9.99

 

 

20

 

 

 

 

 

 

7.50

 

 

 

2.3

 

 

 

20

 

 

 

7.50

 

10.00 - 17.90

 

 

5

 

 

 

 

 

 

17.90

 

 

 

2.4

 

 

 

5

 

 

 

17.90

 

 

 

 

343

 

 

 

50

 

 

$

3.48

 

 

 

7.5

 

 

 

343

 

 

$

3.56