XML 44 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 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 nine months ended September 30, 2018 and 2017 are set forth in the table below.

 

    Nine Months Ended
September 30,
 
    2018     2017  
Risk-free interest rate     2.78-2.82%       1.84-2.01%  
Volatility     61.80-63.34%       61.56-63.95%  
Term (in years)     5.5-6.25       5.5-6.25  
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       5.1     $ 64,664,821  
Granted     3,006,500     $ 5.50                  
Exercised     (1,456,876 )   $ 0.85             $ 8,025,055  
Expired/Forfeited     (77,500 )   $ 7.41                  
Balance at September 30, 2018     24,837,349     $ 4.15       5.2     $ 68,682,857  
Vested and Exercisable at September 30, 2018     19,661,975     $ 3.65       4.3     $ 64,794,996  
Unvested at September 30, 2018     5,175,374     $ 6.04       8.9     $ 3,887,861