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STOCK-BASED COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION PLANS | (6) STOCK-BASED COMPENSATION PLANS The Company previously reserved 3,000,000 shares of common stock for issuance under its 2005 Stock Option Plan (the “Option Plan”). The Option Plan expired as of December 31, 2014. Vesting provisions are determined by the Board of Directors. All stock options under the Option Plan expire no later than ten years from the date of grant. Since the Option Plan expired, the options granted in 2015 and 2016 have not been approved by the Company’s shareholders and were issued as non-qualified stock options. For the years ended December 31, 2016 and 2015, the Company recorded compensation expense related to stock options of $200 and $130, respectively, in selling, general and administrative expenses. During the years ended December 31, 2016 and 2015, the Company granted options to purchase up to 879,000 and 629,000 shares of common stock, respectively, to employees at a weighted average exercise that ranged from $0.14 to $0.39 per share in 2016 and $0.17 to $0.45 per share in 2015. The 2016 grants were issued as non-qualified stock options. The Company used the Black Scholes option pricing model to determine the fair value of stock option grants, using the following assumptions during the years ended December 31, 2016 and 2015:
|  | 2016 |  |  | 2015 |
Weighted average expected term |  |  | 6.25 years |  |  |  | 4.71 years |
Weighted average volatility |  |  | 122 | % |  |  | 132 | %
Weighted average risk-free interest rate |  |  | 1.48 | % |  |  | 1.25 | %
Dividend yield |  |  | 0 | % |  |  | 0 | %
The weighted average expected term of stock options represents the period of time that the stock options granted are expected to be outstanding based on historical exercise trends. The weighted average expected volatility is based on the historical price volatility of the Company’s common stock. The weighted average risk-free interest rate represents the U.S. Treasury bill rate for the expected term of the related stock options. The dividend yield represents the Company’s anticipated cash dividend over the expected term of the stock options. Forfeitures of share-based payment awards are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. A summary of stock option activity under the Option Plan for the years ended December 31, 2016 and 2015 are presented below:
|  |  |  |  |  | Weighted |  |  |
|  |  |  | Weighted |  | Average |  |  |
|  | Shares |  | Average |  | Remaining |  | Aggregate |
|  | Under |  | Exercise |  | Contractual |  | Intrinsic |
|  | Option |  | Price |  | Life |  | Value |
Outstanding at January 1, 2015 |  |  | 1,841,769 |  | $ | 0.59 |  |  |  |  |  |
Granted |  |  | 629,000 |  | $ | 0.43 |  |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  |  |
Forfeited |  |  | (785,519) |  | $ | 0.74 |  |  |  |  |  |
Outstanding at December 31, 2015 |  |  | 1,685,250 |  | $ | 0.46 |  | 6.8 Years |  | $ | — |
Exercisable at December 31, 2015 |  |  | 1,013,095 |  | $ | 0.55 |  | 6.2 Years |  | $ | — |
Outstanding at January 1, 2016 |  |  | 1,685,250 |  | $ | 0.46 |  |  |  |  |  |
Granted |  |  | 879,000 |  | $ | 0.26 |  |  |  |  |  |
Exercised |  |  | (1,000) |  | $ | 0.15 |  |  |  |  |  |
Forfeited |  |  | (373,000) |  | $ | 0.33 |  |  |  |  |  |
Outstanding at December 31, 2016 |  |  | 2,190,250 |  | $ | 0.40 |  | 6.7 Years |  | $ | — |
Exercisable at December 31, 2016 |  |  | 1,617,797 |  | $ | 0.45 |  | 6.1 Years |  | $ | — |
A summary of status of the Company’s non-vested share awards as of and for the years ended December 31, 2016 are presented below:
|  | Non-vested |  | Weighted |
|  | Shares |  | Average |
|  | Under |  | Grant Date |
|  | Option |  | Fair Value |
Non-vested at January 1, 2016 |  |  | 672,155 |  | $ | 0.31 |
Granted |  |  | 879,000 |  | $ | 0.26 |
Vested |  |  | (652,702) |  | $ | 0.26 |
Exercised |  |  | (1,000) |  | $ | 0.15 |
Forfeited |  |  | (326,000) |  | $ | 0.36 |
Non-vested at December 31, 2016 |  |  | 571,453 |  | $ | 0.27 |
As of December 31, 2016, the Company had approximately $79 of unrecognized compensation expense related to stock options that will be recognized over a weighted average period of approximately three years.

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- 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=65895303&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=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: 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 5: 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 6: 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 + Details
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