Annual report pursuant to Section 13 and 15(d)

13. STOCK-BASED COMPENSATION (Tables)

v3.3.1.900
13. STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contract Term (Years)     Aggregate Intrinsic Value  
Outstanding - December 31, 2013     –     $ –       –     $ –  
Granted     6,470,000       2.70       –       –  
Exercised     –       –       –       –  
Forfeited     –     –       –       –  
Expired     –       –       –       –  
Outstanding - December 31, 2014     6,470,000       2.70       9.88       –  
Granted     3,605,000       0.71       –       –  
Exercised     –       –       –       –  
Forfeited     (262,632 )     2.59       –       –  
Expired     (13,332 )     2.82       –       –  
Outstanding - December 31, 2015     9,799,036       1.97       9.20       57,800  
                                 
Total exercisable - December 31, 2015     7,287,981       2.09       9.16       45,050  
Total unvested - December 31, 2015     2,511,055       1.62       9.33       12,750  
Total vested or expected to vest - December 31, 2015     9,799,036       1.97       9.20       57,800  
Nonvested Stock Option Activity
    Number of Shares     Weighted Average Fair Value Per Share on Grant Date  
Unvested stock options - December 31, 2013     –     $ –  
Granted     6,470,000       2.22  
Vested     (3,048,869 )     2.11  
Forfeited     –       –  
Unvested stock options - December 31, 2014     3,421,131       2.31  
Granted     3,605,000       0.53  
Vested     (4,252,444 )     1.36  
Forfeited     (262,632 )     2.25  
Unvested stock options - December 31, 2015     2,511,055       1.37  
Fair value assumptions
    Years ended December 31,  
    2015     2014  
    Employees Weighted Average     Non-Employees Weighted Average     Employees Weighted Average     Non-Employees Weighted Average  
Volatility     89.16%       96.68%       103.48%       96.69%  
Risk-Free Interest Rate     1.57%       2.12%       1.81%       2.31%  
Expected Term     5.30       10.00       5.32       10.00  
Dividend Rate     0.00%       0.00%       0.00%       0.00%  
Fair Value Per Share on Grant Date     $0.49       $1.68       $2.21       $2.45