11. STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2016 |
|---|
| Stock Option Activity |
| |
|
Number
of Shares |
|
|
Weighted
Average Exercise Price |
|
|
Weighted
Average Remaining Contract Term (Years) |
|
|
Aggregate
Intrinsic Value |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
| Granted |
|
|
3,220,000 |
|
|
|
0.36 |
|
|
|
– |
|
|
|
– |
|
| Exercised |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
(74,631 |
) |
|
|
0.55 |
|
|
|
– |
|
|
|
– |
|
| Expired |
|
|
(103,405 |
) |
|
|
2.34 |
|
|
|
– |
|
|
|
– |
|
| Outstanding - December 31, 2016 |
|
|
12,841,000 |
|
|
|
1.57 |
|
|
|
8.54 |
|
|
|
415,135 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total exercisable - December 31, 2016 |
|
|
9,116,767 |
|
|
|
1.91 |
|
|
|
8.26 |
|
|
|
196,580 |
|
| Total unvested - December 31, 2016 |
|
|
3,724,233 |
|
|
|
0.75 |
|
|
|
9.22 |
|
|
|
218,555 |
|
| Total vested or expected to vest - December 31, 2016 |
|
|
12,841,000 |
|
|
|
1.57 |
|
|
|
8.54 |
|
|
|
415,135 |
|
|
| Nonvested Stock Option Activity |
| |
|
|
Number
of Shares |
|
|
Weighted
Average Fair Value Per Share on Grant Date |
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
| |
Unvested
stock options - December 31, 2014 |
|
|
|
3,421,131 |
|
|
$ |
2.31 |
|
| |
Granted |
|
|
|
3,605,000 |
|
|
|
0.53 |
|
| |
Vested |
|
|
|
(4,252,444 |
) |
|
|
1.36 |
|
| |
Cancellations |
|
|
|
(262,632 |
) |
|
|
2.25 |
|
| |
Unvested stock options
- December 31, 2015 |
|
|
|
2,511,055 |
|
|
|
1.37 |
|
| |
Granted |
|
|
|
3,220,000 |
|
|
|
0.27 |
|
| |
Vested |
|
|
|
(1,932,191 |
) |
|
|
0.96 |
|
| |
Cancellations |
|
|
|
(74,631 |
) |
|
|
1.35 |
|
| |
Unvested
stock options - December 31, 2016 |
|
|
|
3,724,233 |
|
|
|
0.63 |
|
| Unvested stock options - December 31, 2015 |
|
|
|
– |
|
|
$ |
– |
|
| |
Granted |
|
|
|
2,750,000 |
|
|
|
0.29 |
|
| |
Vested |
|
|
|
(2,750,000 |
) |
|
|
0.29 |
|
| |
Cancellations |
|
|
|
– |
|
|
|
– |
|
| Unvested stock options - December
31, 2016 |
|
|
|
– |
|
|
|
– |
|
|
| Fair value assumptions |
| |
Years
ended December 31, |
| |
2016 |
|
2015 |
| |
Employees
Weighted Average |
|
Non-Employees
Weighted Average |
|
Employees
Weighted Average |
|
Non-Employees
Weighted Average |
| |
|
|
|
| |
|
|
|
|
|
|
|
| Volatility |
87.63% |
|
90.38% |
|
89.16% |
|
96.68% |
| Risk-Free Interest Rate |
1.47% |
|
1.37% |
|
1.57% |
|
2.12% |
| Expected Term |
5.68 |
|
10.00 |
|
5.30 |
|
10.00 |
| Dividend Rate |
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
| Fair Value Per Share on Grant Date |
$0.27 |
|
$0.32 |
|
$0.49 |
|
$1.68 |
| |
Employees
Assumptions |
| |
| |
|
| Volatility |
88.11% |
| Risk-Free Interest Rate |
1.22% |
| Expected Term |
5.00 |
| Dividend Rate |
0.00% |
| Fair Value Per Share on Grant Date |
$0.29 |
|
| 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, 2015 |
|
|
– |
|
|
$ |
– |
|
|
|
– |
|
|
$ |
– |
|
| Granted |
|
|
2,750,000 |
|
|
|
0.37 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Forfeited |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Expired |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Outstanding - December 31, 2016 |
|
|
2,750,000 |
|
|
|
0.37 |
|
|
|
9.77 |
|
|
|
170,500 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total exercisable - December 31, 2016 |
|
|
2,750,000 |
|
|
|
0.37 |
|
|
|
9.77 |
|
|
|
170,500 |
|
| Total unvested - December 31, 2016 |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Total vested or expected to vest - December 31, 2016 |
|
|
2,750,000 |
|
|
|
0.37 |
|
|
|
9.77 |
|
|
|
170,500 |
|
|