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Schedule of Stock Options (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Schedule of Stock Options (Tables):    
Schedule of Stock Options (Tables)  

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

 

 

Schedule of Stock Options, Activity  

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

 

 

-

Schedule of Stock Options Valuation Assumptions

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

 

Expected term:

1.5 - 10 years

Volatility:

67.3 – 139.5%

Dividend yield:

0.00%

Risk-free interest rate:

.79 - 2.32%