Quarterly report pursuant to Section 13 or 15(d)

3. Stock Based Compensation (Tables)

v3.5.0.2
3. Stock Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Black-Scholes option pricing model assumptions
    Three Months ended June 30,   Six Months ended June 30,  
    2016   2015   2016   2015  
Risk free interest rate   0.70% - 1.73%   1.61% - 1.97%   0.70% - 1.73%   1.61% - 1.97%  
Dividend yield   0%   0%   0%   0%  
Expected term   2-10 years   5-10 years   2-10 years   5-10 years  
Expected volatility   35.9% - 50.4%   41.2% - 54.2%   34.9% - 50.4%   41.2% - 54.2%  
Options outstanding
    Options outstanding  
    Number of shares     Weighted average exercise price per share  
Balance at December 31, 2015     1,193,000     $ 0.24  
  Options granted     50,000       0.14  
  Options exercised     -       -  
  Options expired or forfeited     (3,000 )     0.70  
Balance at March 31, 2016     1,240,000     $ 0.24  
  Options granted     235,000       0.26  
  Options exercised     -       -  
  Options expired or forfeited     (145,000 )     0.45  
Balance at June 30, 2016     1,330,000     $ 0.22  

 

    Options outstanding  
    Number of shares     Weighted average exercise price per share  
Balance at December 31, 2014     1,264,000     $ 0.26  
  Options granted     20,000       0.20  
  Options exercised     -       -  
  Options expired or forfeited     (1,000 )     0.24  
Balance at March 31, 2015     1,283,000     $ 0.26  
  Options granted     -       -  
  Options exercised     -       -  
  Options expired or forfeited     (5,000 )     0.52  
Balance at June 30, 2015     1,278,000     $ 0.25  

Options Summary
  Options outstanding     Options exercisable  
  Total shares     Weighted average exercise price     Weighted average remaining contractual life in years     Aggregate intrinsic value     Total shares     Weighted average exercise price     Weighted average remaining contractual life in years     Aggregate intrinsic value  
    1,330,000     $ 0.22       5.63     $ 22,628       1,220,500     $ 0.23       5.23     $ 18,368  
Nonvested Stock awards
    Nonvested  
    Number of shares     Weighted average grant date fair value  
Balance at December 31, 2015     49,500     $ 0.07  
 Granted     50,000       0.04  
 Vested     (5,000 )     0.08  
 Expired before vesting     -       -  
Balance at March 31, 2016     94,500     $ 0.05  
 Granted     235,000       0.03  
 Vested     (165,000 )     0.08  
 Expired before vesting     (35,000 )     0.15  
Balance at June 30, 2016     129,500     $ 0.06