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STOCKHOLDERS' EQUITY (Tables)
3 Months Ended
Mar. 31, 2019
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, 2019 and 2018 are set forth in the table below.

 

    Three Months
Ended 
March 31,
2019
    Three Months
Ended
March 31,
2018
 
Risk-free interest rate     2.54 %     2.38-2.60 %
Volatility     61.85 %     63.59-64.04 %
Term (in years)     6.25       6-6.25  
Dividend yield     0.00 %     0.00 %
Schedule of activity of 2009 and 2012 Plans

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, 2018     20,872,824     $ 4.93       5.94     $ 12,239,876  
Granted     907,000     $ 5.63                  
Exercised     (288,480 )   $ 0.35             $ 1,315,238  
Expired/Forfeited     (43,625 )   $ 5.69                  
Balance at March 31, 2019     21,447,719     $ 5.02       5.93     $ 19,747,182  
Vested and Exercisable at March 31, 2019     16,995,263     $ 4.78       5.16     $ 19,747,182  
Unvested at March 31, 2019     4,452,456     $ 5.93       8.83     $ 0