Quarterly report pursuant to Section 13 or 15(d)

STOCK BASED COMPENSATION (Tables)

v3.7.0.1
STOCK BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of automatic additions to the 2010 Plan

The following table presents the automatic additions to the 2010 Plan since inception pursuant to the “evergreen” terms of the 2010 Plan:

 

January 1,     Number of
shares
 
2012       30,018  
2013       34,452  
2014       49,532  
2015       65,557  
2016       220,419  
2017       151,477  
Total additional shares       551,455  
Schedule of stock options, valuation assumptions

The fair value of stock options granted for the six months ended June 30, 2017 and 2016 was calculated using the Black-Scholes option-pricing model applying the following assumptions:

 

    Period ended June 30,  
    2017     2016  
             
Risk free interest rate     1.86% - 2.04%       1.48% - 1.55%  
Expected term     5.32- 6.36 years       5.58 - 6.06 years  
                 
Dividend yield     - %        - %   
Expected volatility     112.86% - 114.19%       115.52% - 115.58%  
Schedule of stock options

Options issued and outstanding as of June 30, 2017 and their activities during the six months then ended are as follows:

 

    Number of
Underlying
Shares
    Weighted-
Average
Exercise Price
Per Share
    Weighted-
Average
Contractual
Life Remaining
in Years
    Aggregate
Intrinsic Value
 
Outstanding as of January 1, 2017     378,924     $ 26.25             $  
Granted     1,716,323       .47                
Forfeited     (3,167 )     15.00                
Expired     (19,081 )     25.05                  
Outstanding as of June 30, 2017     2,072,999       4.10       9.25     $ 51,512  
Exercisable as of June 30, 2017     229,158       31.65       7.44     $  
Vested and expected to vest     2,072,999     $ 4.10       9.26     $ 51,512