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SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based compensation, stock options, activity

The summary of the Company’s stock options at December 31, 2018, 2017 and 2016, respectively, and the changes for the fiscal periods ending on those dates are presented below:

	Range of Exercise Prices $		Weighted Average Exercise Price $		Number of Options
Balance, December 31, 2015	2.55 - 32.10		6.54		2,122,897
Granted	2.12 - 2.22		2.13		449,537
Exercised	2.12		2.12		(8,369)
Forfeited	2.12 - 18.99		5.52		(317,960)
Expired	2.95 - 32.03		8.03		(200,962)
Balance, December 31, 2016	2.12 - 15.61		5.69		2,045,143
Granted	1.77 - 2.35		2.34		738,893
Exercised	—		—		—
Forfeited	2.12 - 11.94		2.93		(316,289)
Expired	4.48 - 12.55		8.42		(438,900)
Balance, December 31, 2017	1.77 - 15.61		4.48		2,028,847
Granted	1.70 - 2.88		1.75		442,956
Exercised	1.70 - 2.55		2.15		(355,092)
Forfeited	1.70 - 6.63		3.96		(213,393)
Expired	5.86 - 10.36		8.18		(170,564)
Balance, December 31, 2018	1.70 - 15.61		3.84		1,732,754

Schedule of share-based compensation, shares authorized under stock option plans, by exercise price range

As of December 31, 2018, the outstanding stock options denominated in Cdn$ were as follows:

	Options outstanding												Options exercisable
Exercise price	Quantity			Weighted average price			Weighted average remaining contractual life		Intrinsic Value				Quantity			Weighted average price			Weighted average remaining contractual life		Intrinsic Value
$5.00 to $9.99	210,550			8.01			0.39		—				210,550			8.10			0.39		—
	210,550								$	—			210,550								$	—

As of December 31, 2018, the outstanding stock options denominated in USD$ were as follows:

	Options outstanding													Options exercisable
Exercise price	Quantity			Weighted average price				Weighted average remaining contractual life		Intrinsic Value				Quantity			Weighted average price				Weighted average remaining contractual life		Intrinsic Value
$0.00 to $4.99	1,240,177			$	2.83			3.90		$	415			943,133			$	3.08			3.98		$	415
$5.00 to $9.99	255,762			6.00				3.10		—				255,762			6.00				3.10		—
$10.00 to $14.99	13,515			12.59				2.27		—				13,515			12.59				2.27		—
$15.00 to $19.99	12,750			$	15.61			2.03		—				12,750			$	15.61			2.03		—
	1,522,204									$	415			1,225,160									$	415

Schedule of compensation costs for share-based payment arrangements

The share-based compensation recorded during the years ended December 31, 2018, 2017 and 2016 are as follows:

	Years ended
	December 31,
	2018				2017				2016
Share-based compensation (1)(2)	$	2,762			$	3,525			$	2,657
Value of stock options and RSUs granted	$	2,762			$	3,525			$	2,657

(1) The fair value of the options granted under the Compensation Plan for the years ended December 31, 2018, 2017 and 2016 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted-average assumptions:

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $2.09 million of fair value for the 2,515,625 warrants issued in connection with the public offering in March 2016.

Risk-free rate	1.15%
Expected life	3.0 years
Expected volatility	106.0%*
Expected dividend yield	0%

* Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $0.66 million of fair value for the 2,328,925 warrants at December 31, 2018.

Risk-free rate	2.63%
Expected life	0.2 years
Expected volatility	80.5%*
Expected dividend yield	0%

* Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.

The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $3.17 million of fair value for the 4,168,750 warrants issued in connection with the public offering in September 2016.

Risk-free rate	1.2%
Expected life	5.0 years
Expected volatility	145.2%*
Expected dividend yield	0%

* Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.

	2018			2017			2016
Risk-free interest rate	2.84%			1.93%			1.03% - 1.43%
Expected life	5.0 years			5.0 years			5.0 years
Expected volatility	59.00%*			63.0%*			64.7% -74.8%*
Expected dividend yield	0	%		0	%		0	%
Weighted-average expected life of option	5.00			5.00			5.00
Weighted-average grant date fair value	$0.96			$1.20			$1.22 - $1.23

* Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the options.

.

Schedule of share-based compensation, restricted stock and restricted stock units activity

A summary of the status and activity of non-vested RSUs at December 31, 2018 is as follows:

	Number of shares			Weighted Average Grant- Date Fair Value
Non-vested December 31, 2015	272,866			4.03
Granted	1,205,336			2.14
Vested	(138,608	)		4.65
Forfeited	(9,125	)		5.39
Non-vested December 31, 2016	1,330,469			2.37
Granted	1,390,705			2.09
Vested	(752,580	)		2.35
Forfeited	(59,118	)		2.29
Non-vested December 31, 2017	1,909,477			2.17
Granted	1,191,132			1.70
Vested	(1,486,126	)		2.24
Forfeited	(34,296	)		2.00
Non-vested December 31, 2018	1,580,187			$	1.99

A summary of the status and activity of non-vested stock options at December 31, 2018 is as follows:

	Number of shares			Weighted Average Grant- Date Fair Value
Non-vested December 31, 2015	177,698			3.44
Granted	449,537			1.29
Vested	(331,482	)		2.26
Forfeited	(68,575	)		1.56
Non-vested December 31, 2016	227,178			1.48
Granted	738,893			1.18
Vested	(486,386	)		1.30
Forfeited	(114,505	)		1.22
Non-vested December 31, 2017	365,180			1.20
Granted	442,956			0.96
Vested	(448,662	)		1.10
Forfeited	(62,430	)		0.96
Non-vested December 31, 2018	297,044			1.06

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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