Schedule of Stock Options (Tables)

12 Months Ended

Dec. 31, 2016

The fair value of share-based awards was estimated using the Black-Scholes model with the following weighted-average assumptions for the years ended December 31, 2016 and 2015:

Assumptions:

	2016	2015

Dividend yield	0.00	0.00
Risk-free interest rate	1.13-2.32%	2.24-2.32%
Expected volatility	67.3-78.9%	80.5-184%
Expected life (in years)	10	10

Option activity for the year ended December 31, 2016 was as follows:

			Weighted Average		Weighted Average
			Exercise		Remaining		Aggregate
			Price		Contractual		Intrinsic
	Options		($)		Life (Yrs.)		Value ($)

Options outstanding at December 31, 2015		28,438		11.90		9.65		-
Granted		73,688		7.09		9.53		-
Exercised		-		-		-		-
Forfeited or cancelled		(938)		13.00		-		-

Options outstanding at December 31, 2016		101,188		8.39		9.29		-
Options expected to vest in the future as of December 31, 2016		98,250		8.29		9.30		-
Options exercisable at December 31, 2016		2,938		11.78		8.78		-
Options vested, exercisable and options expected to vest at December 31, 2016		101,188		8.39		9.29		-