Quarterly report pursuant to Section 13 or 15(d)

Employee Stock Options (Tables)

v3.5.0.2
Employee Stock Options (Tables) - Employee Stock Option [Member]
9 Months Ended
Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of estimate the fair value of stock options granted

      2016  
         
  Expected dividend yield     0 %
  Expected volatility     108 %
  Risk-free interest rate     0.93 %
  Expected life of options     3 years  

 

      2015  
         
  Expected dividend yield     0 %
  Expected volatility     129 %
  Risk-free interest rate     0.79 – 1.05 %
  Expected life of options     2.43 – 3.43 years  
Schedule of stock option activity

 

      Number of Options     Weighted
Average
Exercise Price
per Share
    Weighted Average Contractual Life in Years     Aggregate Intrinsic
Value
 
  Outstanding – December 31, 2015     392,500     $ 6.19     2.62          
  Exercisable – December 31, 2015     355,000     $ 5.70     2.55     $ 0  
  Granted     55,000     $ 2.99                  
  Exercised or Vested         $ 0.00                  
  Cancelled or Expired         $ 0.00                  
  Outstanding – September 30, 2016     447,500     $ 5.80       1.96     $ 0  
  Exercisable – September 30, 2016     422,500     $ 5.50       1.92     $ 24,000