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Stock Options and Stock Grants (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of assumptions used to calculate Black-Scholes option Pricing Model for options granted

The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for options granted for all years presented:

 

   Years Ended December 31,
   2017  2016
         
Weighted-average risk-free interest rates:   2.1%   1.5%
           
Dividend yield:   0.00%   0.00%
           
Weighted-average expected life of the option:  7 years  7 years
           
Weighted-average expected stock price volatility:   94%   95%
           
Weighted-average fair value of the options granted:  $0.55   $0.36 

 

Schedule of option activity

The following table summarizes the option activity for our employees and directors during the year ended December 31, 2017:

 

           Weighted     
       Weighted   Average     
       Average   Remaining     
       Exercise Price   Contractual   Aggregate 
   (rounded)   per   Term   Intrinsic 
Options  Shares   Share   (years)   Value 
Outstanding on January 1, 2017   2,933,000   $0.81           
                     
Granted   515,000   $0.68           
Exercised   (118,000)  $0.40           
Forfeited or expired   (189,000)  $2.08           
                     
Outstanding on December 31, 2017   3,141,000   $0.73    5.8   $183 
Exercisable on December 31, 2017   2,296,000   $0.79    4.8   $147 
                     
Shares available for grant   796,000