Quarterly report pursuant to Section 13 or 15(d)

3. Stock Based Compensation (Tables)

v3.5.0.2
3. Stock Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Black-Scholes option pricing model assumptions
   

Three Months ended

September 30,

  

Nine Months ended

September 30,

  
    2016 2015   2016 2015  
Risk free interest rate   n/a n/a   0.70% - 1.73% 1.61% - 1.97%  
Dividend yield   n/a n/a   0% 0%  
Expected term   n/a n/a   2-10 years 5-10 years  
Expected volatility   n/a n/a   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 granted   - -
  Options exercised   - -
  Options expired or forfeited   (17,000) 0.18
Balance at September 30, 2016   1,313,000 $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 granted   - -
  Options exercised   - -
  Options expired or forfeited   (10,000) 0.38
Balance at September 30, 2015   1,268,000 $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
1,313,000   $0.22   5.45   $3,305   1,193,500   $0.23   5.07   $2,455
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
 Granted   - -
 Vested   (10,000) 0.07
 Expired before vesting   - -
Balance at September 30, 2016   119,500 $0.06