XML 37 R24.htm IDEA: XBRL DOCUMENT

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Schedule of Assumptions Used to Value Options Granted to Employees

. The Company valued these grants using the Black-Scholes option pricing model with the following weighted average assumptions:

		2017				2016				2015

Fair value on grant date		$	0.48			$	0.79			$	2.37
Expected Dividend yield			-				-				-
Expected volatility			50	%			47	%			50	%
Risk free interest rate			2.20	%			1.93	%			1.80	%
Expected term of the option			5 years				5 years				5 years

Schedule of Option Activity

In 2017, 2016 and 2015, the Company did not receive proceeds from the exercise of options.

		Number of				Weighted Average				Weighted Average Remaining
		Shares Subject to Option				Exercise Price				Contractual Term (Years)				Aggregate Intrinsic Value

Balance at December 31, 2014			1,570,799			$	7.49				5.2

Granted			204,000			$	5.26
Cancelled			(367,793	)		$	7.70
Exercised			-			$	-
Balance at December 31, 2015			1,407,006			$	7.11				6.2

Granted			85,250			$	1.83
Cancelled			(200,390	)		$	5.89
Exercised			-			$	-
Balance at December 31, 2016			1,291,866			$	6.96				6.2			$	-

Granted			158,000			$	1.06
Cancelled			(470,956	)		$	10.57
Exercised			-			$	-
Balance at December 31, 2017			978,910			$	4.26				7.1			$	-

Schedule of Warrant Activity

Activity in warrants is summarized below:

		Number of Shares Underlying
		Warrants and Non-Employee				Weighted Average
		Options Granted				Exercise Price

Balance at December 31, 2014			1,353,620			$	5.64

Exercised			(137,174	)			4.73
Terminated			(426,083	)			6.09
Issued			0				0.00
Balance at December 31, 2015			790,363			$	5.56

Exercised			0				0.00
Terminated			0				0.00
Issued			-
Balance at December 31, 2016			790,363			$	5.56

Exercised			0				0.00
Terminated			(332,363	)			4.36
Issued			-
Balance at December 31, 2017			458,000			$	6.43