XML 1025 R14.htm IDEA: XBRL DOCUMENT
v3.3.1.900

STOCK BASED COMPENSATION | 12 Months Ended
--- | ---
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK BASED COMPENSATION | NOTE 8 – STOCK BASED COMPENSATION The Company uses the Black-Scholes option pricing model to calculate the grant-date fair value of an award, with the following assumptions for 2015 and 2014: no dividend yield in both years, expected volatility, based on the Company’s historical volatility, 75% to 79% in 2015 and between 70.25% to 109% in 2014, risk-free interest rate between 1.44% to 1.70% in 2015 and between 0.58% to 2.08% in 2014 and expected option life of 5 to 5.75 years in 2015 and 2.13 to 7.25 years in 2014. As of December 31, 2015, there was $209,618 of unrecognized compensation expense related to non-vested market-based share awards that is expected to be recognized through August 2018. The following tables summarize all stock option and warrant activity of the Company during the year ended December 31, 2015 and 2014:
|  | Non-Qualified Stock Options and Warrants Outstanding and Exercisable |
|  |  |  |  |  |  |  | Weighted |
|  |  |  |  |  |  |  | Average |
|  | Number of |  |  | Exercise |  |  | Exercise |
|  | Shares |  |  | Price |  |  | Price |
Outstanding, December 31, 2013 |  |  | 7,146,000 |  |  | $0.25 - $1.75 |  |  | $ | 1.16 |
Granted |  |  | 5,257,600 |  |  | $0.72 - $1.25 |  |  | $ | 1.07 |
Expired |  |  | (10,000 | ) |  | $1.25 |  |  | $ | 1.25 |
Forfeited |  |  | (125,000 | ) |  | $0.92 - $1.03 |  |  | $ | 0.93 |
Exercised |  |  | (449,000 | ) |  | $0.25 - $0.345 |  |  | $ | 0.34 |
Outstanding, December 31, 2014 |  |  | 11,819,600 |  |  | $0.25 - $1.75 |  |  | $ | 1.15 |
Granted |  |  | 9,746,267 |  |  | $0.67 - $1.02 |  |  | $ | 0.81 |
Expired |  |  | (2,837,500 | ) |  | $1.00 - $1.75 |  |  | $ | 1.52 |
Forfeited |  |  | (200,000 | ) |  | $0.92 - $1.16 |  |  | $ | 1.01 |
Exercised |  |  | — |  |  |  |  |  |  |  |
Outstanding, December 31, 2015 |  |  | 18,528,367 |  |  | $0.63 - $1.69 |  |  | $ | 0.92 |
Exercisable, December 31, 2015 |  |  | 18,006,488 |  |  | $0.63 - $1.69 |  |  | $ | 0.92 |
The aggregate intrinsic value of options and warrants outstanding and exercisable as of December 31, 2015 was $0. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and warrants and the closing stock price of $.585 for our common stock on December 31, 2015. The total intrinsic value of options and warrants exercised during the year ended December 31, 2014 was $232,139. No options or warrants were exercised during 2015.
Non-Qualified Stock Options and Warrants Outstanding
|  | Number Outstanding |  | Weighted Average |  | Weighted Average
Range of |  | Currently Exercisable |  | Remaining |  | Exercise Price of Options and
Exercise Prices |  | at December 31, 2015 |  | Contractual Life |  | Warrants Currently Exercisable
$0.63 - $1.69 |  | 18,006,488 |  | 4.86 Years |  | $0.92

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration