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Note 9 - Stock-based Compensation | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] |
9 . | Stock-Based Compensation
Stock Option Plan s We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows:
|  | 201 7 |  |  | 201 6 |  |  | 20 15 |
Weighted average risk-free interest rates |  |  | 2.40 | % |  |  | 2.26 | % |  |  | 1.99 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Expected life of option (yrs) |  | 7.0 |  |  | 7.0 |  |  | 7.0 |
Expected volatility |  |  | 89.73 | % |  |  | 88.72 | % |  |  | 91.43 | %
Stock-based compensation expense related to our stock option plans was $57,224, $54,805, and $67,905 during the years ended December 31, 2017, 2016 and 2015, respectively. Stock option expense is allocated to research and development expense or to general and administrative expense based on the nature of the services provided by the related individuals. For the three years ended December 31, 2017, stock option expense was allocated as follows:
|  | 201 7 |  |  | 201 6 |  |  | 20 15 |
General and administrative expense |  | $ | 31,271 |  |  | $ | 31,191 |  |  | $ | 45,822 |
Research and development expense |  |  | 25,953 |  |  |  | 23,614 |  |  |  | 22,083 |
Total stock option expense |  | $ | 57,224 |  |  | $ | 54,805 |  |  | $ | 67,905 |
As of December 31, 201 7, there was $218,280 of unrecognized compensation expense related to stock-based compensation arrangements pursuant to our stock option plans. The unrecognized compensation expense is expected to be recognized over a weighted average remaining period of 2.6 years. Additional information concerning our stock options for t he years ended December 31, 2017, 2016 and 2015 is as follows:
|  | 201 7 |  |  | 201 6 |  |  | 201 5 |
Weighted average fair value of options granted |  | $ | 0.04 |  |  | $ | 0.05 |  |  | $ | 0.09 |
Intrinsic value of options exercised |  |  | - |  |  |  | - |  |  |  | - |
Total fair value of options vested |  |  | 58,337 |  |  |  | 54,757 |  |  |  | 66,622 |
Other Non-E mp loyee Stock-Based C ompensation We recorded general and administrative expense of $- 0 -, $912,862 and $- 0 - during the years ended December 31, 2017, 2016 and 2015, respectively, related to modifications made to certain stock purchase warrants.

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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 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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