Quarterly report pursuant to Section 13 or 15(d)

Stock Option Plans (Tables)

v3.5.0.2
Stock Option Plans (Tables)
6 Months Ended
Jun. 30, 2016
Stock Option Plans [Abstract]  
Stock option plans
A summary of stock option activity for the six months ended June 30, 2016 is as follows:
 
 
 
 
 
Number of 
Shares
 
Weighted
Average
Exercise
Price
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2015
 
 
1,022,789
 
$
4.59
 
Granted
 
 
7,500
 
 
5.69
 
Exercised
 
 
 
 
 
Expired or Forfeited
 
 
(31,523)
 
 
5.58
 
 
 
 
 
 
 
 
 
Outstanding at June 30, 2016
 
 
998,766
 
$
4.57
 
Share-based Payment Award, Stock Options, Valuation Assumptions
The following summary table shows the assumptions used to the fair value of options granted during the six-month period ended June 30, 2016 and their estimated value:
 
• Expected term in years
 
 
7.9 years
 
• Volatility
 
 
109.7
%
• Risk-free interest rate
 
 
1.68
%
• Expected annual dividends
 
 
None
 
• Fair value of options issued
 
$
37,755