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STOCK-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Dec. 31, 2017
Summary of Stock Option Activity Under the Option Plan
A summary of activity under the 2005 and 2017 Stock Plans for the years ended December 31, 2017 and 2016 are presented below:
 
 
 
Number of Shares
(in thousands)
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
(in thousands)
 
Outstanding at December 31, 2015
 
 
1,685
 
$
0.46
 
 
 
 
$
235
 
Granted
 
 
877
 
$
0.26
 
 
 
 
 
 
 
Exercised
 
 
(1)
 
 
0.15
 
 
 
 
 
 
 
Forfeited
 
 
(330)
 
$
0.36
 
 
 
 
 
 
 
Outstanding at December 31, 2016
 
 
2,231
 
$
0.40
 
 
6.7
 
$
135
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2016
 
 
2,231
 
$
0.40
 
 
 
 
 
 
 
Granted
 
 
662
 
$
0.86
 
 
 
 
 
 
 
Exercised
 
 
(38)
 
$
1.02
 
 
 
 
 
 
 
Forfeited/Canceled
 
 
(803)
 
$
0.33
 
 
 
 
 
 
 
Outstanding at December 31, 2017
 
 
2,052
 
$
0.56
 
 
6.5
 
$
5,334
 
Exercisable at December 31, 2017
 
 
1,460
 
$
0.40
 
 
5.3
 
 
 
 
Summary of Stock Options Outstanding Under The Plans
The following is a summary of stock options outstanding under the plans as of December 31, 2017:
 
Range
 
Outstanding
Number of Shares
(in thousands)
 
WA
Remaining
Contractual
Life (years)
 
WA Outstanding
Strike Price
 
Exercisable Number of
Shares (in thousands)
 
Remaining Exercisable
Contractual Life (years)
 
WA
Exercisable
Strike Price
 
$0 to $.50
 
 
1,540
 
 
6.96
 
$
0.27
 
 
1,155
 
 
6.25
 
$
0.24
 
$.51 to $1.00
 
 
283
 
 
3.59
 
$
0.89
 
 
233
 
 
2.29
 
$
0.93
 
$1.01 to $1.50
 
 
69
 
 
3.09
 
$
1.24
 
 
54
 
 
1.19
 
$
1.19
 
$1.51 to $2.00
 
 
30
 
 
4.19
 
$
1.73
 
 
18
 
 
0.49
 
$
1.68
 
$2.00 to $3.00
 
 
130
 
 
9.95
 
$
2.65
 
 
-
 
 
0.00
 
$
-
 
 
 
 
2,052
 
 
6.52
 
$
0.56
 
 
1,460
 
 
5.36
 
$
0.40
 
Summary of Status of the Company's Non-Vested Shares Under Option
A summary of status of the Company’s non-vested share awards as of and for the years ended December 31, 2017 and 2016 are presented below:
 
 
 
Non-vested
Shares
Under
Option
 
Weighted
 Average
Grant Date
Fair Value
 
Non-vested at December 31, 2016
 
 
572
 
$
0.24
 
Granted
 
 
897
 
$
0.70
 
Vested
 
 
(267)
 
$
0.25
 
Exercised
 
 
-
 
$
-
 
Forfeited
 
 
(610)
 
$
0.29
 
Non-vested at December 31, 2017
 
 
592
 
$
0.88
 
Stock Option [Member]  
Fair Value of Stock Options Grants
The Company uses 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, 2017 and 2016:
 
 
 
2017
 
 
2016
 
Weighted average expected term
 
 
6.25 years
 
 
 
6.25 years
 
Weighted average volatility
 
 
124
%
 
 
122
%
Weighted average risk-free interest rate
 
 
1.83
%
 
 
1.48
%
Dividend yield
 
 
0
%
 
 
0
%