Quarterly report pursuant to Section 13 or 15(d)

Employee Stock Options (Tables)

v3.7.0.1
Employee Stock Options (Tables) - Employee Stock Option [Member]
3 Months Ended
Mar. 31, 2017
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]  
Summary of assumptions used to estimate fair value stock options granted
      2017  
         
  Expected dividend yield     0 %
  Expected volatility     100 %
  Risk-free interest rate     1.50 %
  Expected life of options     2.50-3.00 years  

      2016  
         
  Expected dividend yield     0 %
  Expected volatility     102 %
  Risk-free interest rate     1.24-1.38 %
  Expected life of options     2.00-2.50  years  
Summary 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, 2016     442,500     $ 5.81     $ 1.72                  
   Exercisable – December 31, 2016     407,500     $ 5.57     $ 1.65     $ 0  
   Granted     100,000     $ 2.90                  
   Exercised or Vested     0     $ 0.00                  
   Cancelled or Expired     (5,000 )   $ 3.77                  
   Outstanding – March 31, 2017     537,500     $ 5.29       1.43     $ 0  
   Exercisable – March 31, 2017     412,500     $ 5.53       1.43     $ 0