9. STOCK-BASED COMPENSATION (Tables)
|
3 Months Ended |
Mar. 31, 2017 |
|---|
| Stock Option Activity |
|
|
Number
of Shares |
|
|
Weighted
Average Exercise Price |
|
|
Weighted
Average Remaining Contract Term (Years) |
|
|
Aggregate Intrinsic
Value |
|
| Outstanding - December 31, 2016 |
|
|
12,841,000 |
|
|
$ |
1.57 |
|
|
|
8.54 |
|
|
$ |
415,135 |
|
| Granted |
|
|
8,747,000 |
|
|
|
0.38 |
|
|
|
– |
|
|
|
– |
|
| Exercised |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Cancelled/Forfeited (1) |
|
|
(6,100,278 |
) |
|
|
2.64 |
|
|
|
– |
|
|
|
– |
|
| Expired |
|
|
(12,500 |
) |
|
|
0.73 |
|
|
|
– |
|
|
|
– |
|
| Outstanding - March 31, 2017 |
|
|
15,475,222 |
|
|
|
0.48 |
|
|
|
8.58 |
|
|
|
500,675 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total exercisable - March 31, 2017 |
|
|
10,105,687 |
|
|
|
0.52 |
|
|
|
8.14 |
|
|
|
307,602 |
|
| Total unvested - March 31, 2017 |
|
|
5,369,535 |
|
|
|
0.40 |
|
|
|
9.41 |
|
|
|
193,073 |
|
| Total vested or expected to vest - March 31,
2017 |
|
|
15,475,222 |
|
|
|
0.48 |
|
|
|
8.58 |
|
|
|
500,675 |
|
|
(1) |
The
number of options cancelled/forfeited includes options cancelled
in connection with the Exchange Program (see below). |
|
| Nonvested Stock Option Activity |
| |
|
Number of
Shares
|
|
|
Weighted
Average
Fair Value
Per Share on
Grant Date
|
|
| Unvested stock options - December 31, 2016 |
|
|
3,724,233 |
|
|
$ |
0.63 |
|
| Granted |
|
|
8,747,000 |
|
|
|
0.14 |
|
| Vested |
|
|
(1,001,420 |
) |
|
|
0.32 |
|
| Cancellations |
|
|
(6,100,278 |
) |
|
|
0.48 |
|
| Unvested stock options - March 31, 2017 |
|
|
5,369,535 |
|
|
|
0.45 |
|
|
| Options Outside the Amended 2013 Plan [Member] |
|
| Stock Option Activity |
| |
|
Number of
Shares
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Contract
Term
(Years)
|
|
|
Aggregate
Intrinsic
Value
|
|
| Outstanding - December 31, 2016 |
|
|
2,750,000 |
|
|
$ |
0.37 |
|
|
|
9.77 |
|
|
$ |
170,500 |
|
| Granted |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Exercised |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Expired |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Outstanding - March 31, 2017 |
|
|
2,750,000 |
|
|
|
0.37 |
|
|
|
9.52 |
|
|
|
88,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total exercisable - March 31, 2017 |
|
|
2,750,000 |
|
|
|
0.37 |
|
|
|
9.52 |
|
|
|
88,000 |
|
| Total unvested - March 31, 2017 |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Total vested or expected to vest - March 31, 2017 |
|
|
2,750,000 |
|
|
|
0.37 |
|
|
|
9.52 |
|
|
|
88,000 |
|
|
| RSU activity outside of Amended 2013 Plan [Member] |
|
| Stock Option Activity |
| |
|
Number of
Shares
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Contract
Term
(Years)
|
|
|
Aggregate
Intrinsic
Value
|
|
| Outstanding - December 31, 2016 |
|
|
– |
|
|
$ |
– |
|
|
|
– |
|
|
$ |
– |
|
| Granted |
|
|
1,000,000 |
|
|
|
– |
|
|
|
– |
|
|
|
400,000 |
|
| Exercised |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Expired |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Outstanding - March 31, 2017 |
|
|
1,000,000 |
|
|
|
– |
|
|
|
– |
|
|
|
399,500 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total exercisable - March 31, 2017 |
|
|
1,000,000 |
|
|
|
– |
|
|
|
– |
|
|
|
399,500 |
|
| Total unvested - March 31, 2017 |
|
|
1,000,000 |
|
|
|
– |
|
|
|
– |
|
|
|
399,500 |
|
| Total vested or expected to vest - March 31, 2017 |
|
|
1,000,000 |
|
|
|
– |
|
|
|
– |
|
|
|
399,500 |
|
|
| Nonvested Stock Option Activity |
| |
|
Number of
Shares
|
|
|
Weighted
Average
Fair Value
Per Share on
Grant Date
|
|
| Unvested RSU's - December 31, 2016 |
|
|
– |
|
|
$ |
– |
|
| Granted |
|
|
1,000,000 |
|
|
|
0.40 |
|
| Vested |
|
|
(1,000,000 |
) |
|
|
0.40 |
|
| Cancellations |
|
|
– |
|
|
|
– |
|
| Unvested RSU's - March 31, 2017 |
|
|
– |
|
|
|
– |
|
|