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13. STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2016

Consultants [Default Label]

Stock option activity

The following table summarizes the Company’s stock option activity for the years ended December 31, 2016 and 2015:

		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
Granted			168,000			$	1.42			$	1.42
Cancelled or expired			(515,000	)		$	0.75 – 2.45			$	1.61
Exercised			(30,000	)		$	1.00 – 1.21			$	1.09
Balance, December 31, 2016			813,000			$	0.75 – 2.22			$	1.19
Exercisable, December 31, 2016			647,000			$	0.75 – 2.22			$	1.13

Fair value of each option grant

		2016				2015
Expected life – years			3.0				3.0
Interest rate			1.37	%			0.78 – 1.16	%
Volatility			75.64	%			57-77	%
Dividend yield			--	%			--	%
Weighted average fair value of options granted		$	0.7073			$	0.36-0.37

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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- Definition

Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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