Quarterly report pursuant to Section 13 or 15(d)

STOCK WARRANTS, OPTIONS AND GRANTS (Tables)

v3.8.0.1
STOCK WARRANTS, OPTIONS AND GRANTS (Tables)
 9 Months Ended
Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Options Pricing

 

 

Nine months ended September 30, 2017

 

 

Nine months ended September 30, 2016

 

Dividend yield

 

 

0%

 

 

 

0%

 

Expected volatility

 

80% - 87%

 

 

89% - 90%

 

Risk free interest rate

 

1.73% - 1.94%

 

 

1.01% - 1.22%

 

Expected life (years)

 

 

5.00

 

 

 

5.00

 

 
Summary of Stock Option Activity

A summary of stock option activity is as follows:

 

 

 

Common stock options

 

 

Weighted-

average

exercise price

 

 

Aggregate

intrinsic

value

 

 

Weighted-average

remaining contractual

term (years)

 

Outstanding – December 31, 2016

 

 

1,496,250

 

 

$

0.32

 

 

$

385,017

 

 

 

3.57

 

Issued

 

 

1,390,000

 

 

 

0.71

 

 

 

—

 

 

 

—

 

Exercised

 

 

(150,000

)

 

 

0.23

 

 

 

—

 

 

 

—

 

Expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding – September 30, 2017

 

 

2,736,250

 

 

$

0.52

 

 

$

1,767,429

 

 

 

3.87

 

Exercisable – September 30, 2017

 

 

1,822,359

 

 

$

0.46

 

 

$

1,289,100

 

 

 

3.53

 

 
Summary of Unvested Stock Option Activity

A summary of unvested stock option activity is as follows:

 

 

 

Common stock

options

 

 

Weighted-average

exercise price

 

 

Aggregate

intrinsic

value

 

 

Weighted-average

remaining contractual

term (years)

 

Unvested – December 31, 2016

 

 

128,889

 

 

$

0.34

 

 

$

30,933

 

 

 

3.99

 

Granted

 

 

1,390,000

 

 

 

0.71

 

 

 

—

 

 

 

—

 

Vested

 

 

(604,998

)

 

 

0.73

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Unvested – September 30, 2017

 

 

913,891

 

 

$

0.65

 

 

$

478,329

 

 

 

4.54