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STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2018

Stockholders' Equity:

Schedule of assumptions used in the Black-Scholes Model of stock options

The assumptions used in the Black-Scholes Model for options granted during the three months ended March 31, 2018 and 2017 are set forth in the table below.

	Three Months Ended March 31, 2018		Three Months Ended March 31, 2017
Risk-free interest rate	2.38-2.60%		1.90%
Volatility	63.59-64.04%		61.56-62.83%
Term (in years)	6-6.25		6-6.25
Dividend yield	0.00%		0.00%

Schedule of 2009 and 2012 Plans activity

A summary of activity under the 2009 and 2012 Plans and related information follows:

		Number of Shares Underlying Stock Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life in Years				Aggregate Intrinsic Value
Balance at December 31, 2017			23,365,225			$	3.78				5.13			$	64,664,821
Granted			2,025,500			$	5.19
Exercised			(154,791	)		$	0.29							$	795,224
Expired/Forfeited			(39,250	)		$	7.70
Balance at March 31, 2018			25,196,684			$	3.91				5.3			$	45,463,554
Vested and Exercisable at March 31, 2018			20,244,060			$	3.40				4.4			$	45,405,774
Unvested at March 31, 2018			4,952,624			$	5.99				9.1			$	57,780

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- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

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