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Stock-based compensation | 12 Months Ended
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Dec. 31, 2016
Stock-based compensation [Abstract] |
Stock-based compensation | Note 14 Stock-based compensation: Stock Options On October 27, 2016, the Company's stockholders approved the Company's adoption of the new 2016 Omnibus Incentive Stock Plan ("2016 Plan") having 10,294,400 shares available for issuance in respect of awards made thereunder. The Company terminated the 2013 Stock Incentive Plan in October 2016. As of December 31, 2016, the aggregate number of shares of common stock remaining available for issuance for awards under the 2016 Plan totaled 8,294,400. A summary of option transactions for all of the Company's stock options during the years ended December 31, 2016 and 2015 follows:
|  | Number of Stock Options |  |  | Weighted Average Exercise Price |
Outstanding at December 31, 2014 |  |  | 1,308,835 |  |  | $ | 2.76 |
Granted |  |  | 1,487,500 |  |  |  | 1.15 |
Exercised |  |  | - |  |  |  | - |
Expired/cancelled |  |  | (111,983 | ) |  |  | 10.70 |
Outstanding at December 31, 2015 |  |  | 2,684,352 |  |  |  | 1.54 |
Granted |  |  | 2,340,000 |  |  |  | 0.58 |
Exercised |  |  | - |  |  |  | - |
Expired/cancelled |  |  | (523,830 | ) |  |  | 2.07 |
Outstanding at December 31, 2016 |  |  | 4,500,522 |  |  | $ | 1.02 |
Exercisable at December 31, 2016 |  |  | 2,200,672 |  |  | $ | 1.48 |
Options expected to vest at December 31, 2016 |  |  | 2,049,850 |  |  | $ | 0.59 |
The outstanding and exercisable options at December 31, 2016, have a range of exercise prices and associated weighted remaining contractual life and weighted average exercise price, as follows:
Options Range of Exercise Prices |  |  | Outstanding Number of Shares |  |  | Weighted Average Remaining Contractual Life (years) |  |  | Weighted Average Exercise Price |  |  | Exercisable Number of Shares |  |  | Exercisable Weighted Avg. Exercise Price |
$ | 0 - $1.25 |  |  |  | 3,827,500 |  |  |  | 9.41 |  |  | $ | 0.80 |  |  |  | 1,530,000 |  |  | $ | 1.14 |
$ | 1.26 - $5.00 |  |  |  | 625,000 |  |  |  | 7.93 |  |  |  | 1.58 |  |  |  | 625,000 |  |  |  | 1.58 |
$ | 5.01 - $10.00 |  |  |  | 36,022 |  |  |  | 6.78 |  |  |  | 7.06 |  |  |  | 34,597 |  |  |  | 7.08 |
$ | 10.01 - $63.00 |  |  |  | 12,000 |  |  |  | 5.60 |  |  |  | 24.19 |  |  |  | 11,075 |  |  |  | 24.27 |
Total |  |  |  | 4,500,522 |  |  |  | 9.17 |  |  | $ | 1.02 |  |  |  | 2,200,672 |  |  | $ | 1.48 |
As the share price as of December 31, 2016 was $0.44, the aggregate intrinsic value for options outstanding and exercisable was immaterial. Stock awards under the Company's stock option plans have been granted with exercise prices that are no less than the market value of the stock on the date of the grant. Options granted under the plans are generally time-based or performance-based options and vesting varies accordingly. Options under the plans expire up to a maximum of ten years from the date of grant. The fair value of each option award granted during the period is estimated on the date of grant using the Black-Scholes option valuation model and assumptions as noted in the following table:
| Years Ended December 31,
| 2016 |  | 2015
Risk-free interest rate | 1.51 – 2.18% |  | 1.80 - 1.90%
Volatility | 50.00% |  | 50.00 - 85.68%
Expected dividend yield | 0% |  | 0%
Expected life | 6.5 years |  | 6.5 years
Estimated forfeiture rate | 0% |  | 0%
The expected life of the options is based on the observed and expected time to full-vesting, forfeiture and exercise. Groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The risk-free rate is based on rates provided by the U.S. Treasury with a term equal to the expected life of the option. The Company has never paid dividends and does not currently anticipate paying any in the foreseeable future. During December 2015 the Company changed its method of calculating expected volatility that is used in its fair value measurements and measurements of share based compensation cost. The new method estimates expected volatility by using a combination of the Company's historical volatility since June 22, 2015, the acquisition date of the XTRAC and VTRAC businesses, plus the historical volatility of stocks of similar publicly-traded companies for a period matching the expected term of the underlying instrument. The Company believes that this method provides for a better estimate of future volatility because of the significant change to the overall Company resulting from the acquisition of the XTRAC and VTRAC businesses on June 22, 2015. The Company had historically calculated expected volatility based solely upon the historical volatility of the Company's daily closing stock price. On December 6, 2016, the Company granted an aggregate of 450,000 options to purchase common stock to the non-employee board directors with a strike price of $0.55. The options vest over a one year period and expire ten years from the date of grant. The aggregate fair value of the options granted was $182. On October 31, 2016, the Company issued 542,500 options to purchase common stock to its' Chief Executive Officer with a strike price of $0.55. The options vest over three years and expire ten years from the date of grant. The aggregate fair value of the options granted was $150. Additionally, the Company issued 1,007,500 options to purchase common stock to its' Chief Executive Officer with a strike price of $0.55. These options vest based on performance goals determined by the board of directors for each of the years 2017 through 2019. On June 7, 2016, the Company granted an aggregate of 340,000 options to purchase common stock to a number of employees with a strike price of $0.75. The options vest over four years and expire ten years from the date of grant. The aggregate fair value of the options granted was $128. Stock-based compensation expense, primarily included in general and administration, for the years ended December 31, 2016 and 2015 was $113 and $1,753, respectively. As of December 31, 2016 there was $371 in unrecognized compensation expense, which will be recognized over a weighted average period of 1.3 years.

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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 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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