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Schedule of Stock Options (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Schedule of Stock Options (Tables):    
Schedule of Stock Options (Tables)  

The estimated fair value of the options was determined using the Black-Scholes pricing model using the following assumptions:

 

Expected term:

5-10 years

 

Volatility:

67.3 - 81.7%

 

Dividend yield:

0.00%

 

Risk-free interest rate:

1.13 - 2.32%

 

Valuation Assumptions (Tables)

The weighted average exercise price of all options is $4.21 and the weighted average fair value of the options on the grant dates was $3.23.  The estimated fair value of the options was determined using the Black-Scholes pricing model using the following assumptions:

 

Expected term:

5-10 years

 

Volatility:

67.3 - 81.7%

 

Dividend yield:

0.00%

 

Risk-free interest rate:

1.13 - 2.32%