Quarterly report pursuant to Section 13 or 15(d)

Stock Option and Incentive Plans (Tables)

v3.10.0.1
Stock Option and Incentive Plans (Tables)
9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity
A summary of stock option activity for the nine months ended September 30, 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

     2,280,000        1.45        

Exercised

     —          —          

Expired

     (865,606      3.93        

Forfeited

     (366,347      1.84        
  

 

 

          

Options outstanding at September 30, 2018

     7,248,198        3.15        6.92      $ 1,987,550  
  

 

 

          

 

 

 

Vested and exercisable at September 30, 2018

     4,714,393        3.88        5.89      $ 762,306  
  

 

 

          

 

 

 
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
September 30,
     Nine Months Ended
September 30,
 
     2018      2017      2018     2017  

Risk free interest rate

     —          —          2.57     2.08

Expected dividend yield

     —          —          —         —    

Expected term (in years)

     —          —          6.02       6.00  

Expected volatility

     —          —          82.3     79.1