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10. STOCK OPTIONS (Tables)
9 Months Ended
Sep. 30, 2016
Stock Options Tables  
Stock option activity

 

    Number of shares    

Exercise price

per share

    Weighted average exercise price  
                   
Balance, December 31, 2014     1,126,000     $ 1.21 – 2.45     $ 1.54  
Granted     317,000     $ 0.75 – 1.05     $ 0.89  
Cancelled or expired     (245,000 )   $ 1.05 – 2.22     $ 1.72  
Exercised     8,000     $ 1.00     $ 1.00  
Balance, December 31, 2015     1,190,000     $ 0.75 – 2.45     $ 1.34  
Exercised     24,000     $ 1.00 – 1.21     $ 1.09  
Cancelled or expired     (513,000 )   $ 0.75 - 2.00     $ 1.61  
Balance, September 30, 2016     653,000     $ 0.75 – 2.45     $ 1.13  
Exercisable, September 30, 2016     506,000     $ 1.00 – 2.45     $ 1.24  

 

Fair value of each option grant

 

    2015  
Expected life – years     3.0  
Interest rate      0.78 – 1.16 %
Volatility      58 - 77 %
Dividend yield      -- %
Weighted average fair value of options granted     $ 0.36 – 0.37