Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.8.0.1
Stock Option and Incentive Plans (Tables)
 3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
A summary of stock option activity for the three months ended March 31, 2018, is summarized as follows:

 

     Number of
Options 		     Weighted
Average
Exercise
Price 		     Weighted
Average
Remaining
Contractual
Life
(in years) 		     Aggregate
Intrinsic
Value		  

Options outstanding at December 31, 2017

      6,200,151      $ 3.81        

Granted

      2,145,000        1.44        

Exercised

      —          —          

Expired

      (782,233 )       3.95        

Forfeited

      (87,812 )       1.86        
  

 

 

           

Options outstanding at March 31, 2018

      7,475,106        3.13        7.43      $ 553,775
  

 

 

           

 

 

  

Vested and exercisable at March 31, 2018

      4,169,578        4.12        6.03      $ 181,325
  

 

 

           

 

 

  

Assumptions to Compute Fair Value of Stock Option Grants

The following assumptions were used to compute the fair value of stock option grants:

 

     Three Months
Ended
March 31,		  
     2018     2017  

Risk free interest rate

      2.56 %      2.11 % 

Expected dividend yield

      —         —    

Expected term (in years)

      6.06       6.06  

Expected volatility

      82.2 %      78.7 %