Quarterly report pursuant to Section 13 or 15(d)

9. STOCK-BASED COMPENSATION (Tables)

v3.7.0.1
9. STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 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     9,147,000       0.37              
Exercised                        
Cancelled/Forfeited (1)     6,525,280       2.50              
Expired     14,722       0.69              
Outstanding - June 30, 2017     15,447,998       0.47       8.34       145,625  
                                 
Total exercisable - June 30, 2017     10,969,781       0.51       7.98       96,802  
Total unvested - June 30, 2017     4,478,217       0.37       9.22       48,823  
Total vested or expected to vest - June 30, 2017     15,447,998       0.47       8.34       145,625  

 

  (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        9,147,000       0.17  
  Vested        (1,867,736     0.34  
  Cancellations        (6,525,280     0.46  
  Unvested stock options - June 30, 2017        4,478,217       0.44  
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 - June 30, 2017     2,750,000       0.37       9.27        
                                 
Total exercisable - June 30, 2017     2,750,000       0.37       9.27        
Total unvested - June 30, 2017            –        –        
Total vested or expected to vest - June 30, 2017     2,750,000       0.37       9.27        
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 - June 30, 2017     1,000,000                   399,500  
                                 
Total exercisable - June 30, 2017     1,000,000                   399,500  
Total unvested - June 30, 2017     1,000,000                   399,500  
Total vested or expected to vest - June 30, 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 - June 30, 2017