Annual report pursuant to Section 13 and 15(d)

Stock-based Plans and Stock-based Compensation (Tables)

v3.7.0.1
Stock-based Plans and Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock Option Activity



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Weighted
Average
Exercise Price

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

Aggregate
Intrinsic Value

Outstanding at December 31, 2014

 

 

5,382,923 

 

$

1.76 

 

 

8.10 

 

$

35,425 

Granted

 

 

3,348,000 

 

$

1.05 

 

 

 -

 

$

 -

Exercised

 

 

 -

 

$

 -

 

 

 -

 

$

 -

Forfeit/canceled

 

 

(2,511,522)

 

$

1.60 

 

 

 -

 

$

 -

Expired

 

 

(1,176,173)

 

$

1.82 

 

 

 -

 

$

 -

Outstanding at December 31, 2015

 

 

5,043,228 

 

$

1.37 

 

 

8.12 

 

$

209,690 

Granted

 

 

1,771,500 

 

$

0.72 

 

 

 -

 

$

 -

Exercised

 

 

 -

 

$

 -

 

 

 -

 

$

 -

Forfeit/canceled

 

 

(577,817)

 

$

1.01 

 

 

 -

 

$

 -

Expired

 

 

(479,031)

 

$

1.73 

 

 

 -

 

$

 -

Outstanding at December 31, 2016

 

 

5,757,880 

 

$

1.16 

 

 

8.10 

 

$

434,630 



 

 

 

 

 

 

 

 

 

 

 

 

Expected to vest at December 31, 2016

 

 

5,757,880 

 

$

1.17 

 

 

7.16 

 

$

70,594 

Exercisable at December 31, 2016

 

 

2,394,332 

 

$

1.52 

 

 

7.15 

 

$

 -

Unrecognized expense at December 31, 2016

 

$

2,505,275 

 

 

 

 

 

 

 

 

 



Stock-Based Compensation Expense



 

 

 

 

 

 



 

 

 

 

 

 

 

 

Years ended December 31,

 

 

2016

 

2015

General and administrative

 

$

953,206 

 

$

821,410 

Sales and marketing

 

 

361,704 

 

 

229,698 

Engineering, research, and development

 

 

146,968 

 

 

112,447 

 

 

$

1,461,878 

 

$

1,163,555 



Valuation Assumptions



 

 

 

 



 

 

 

 

 

 

Years ended December 31,

 

 

2016

 

2015

Risk-free interest rate

 

1.23% to 1.84%

 

1.48% to 1.85%

Expected life (years)

 

6.00 

 

3.02 to 6.08

Dividend yield

 

 -

 

 -

Expected volatility

 

113.97% to 114.55%

 

114.5% to 132.0%



Restricted Stock Unit Activity



 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Weighted
Average
Grant Date
Fair Value

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

Aggregate
Intrinsic Value

Outstanding at December 31, 2014

 

 

591,436 

 

$

0.75 

 

 

0.89 

 

$

305,572 

Awarded

 

 

82,501 

 

$

0.29 

 

 

 -

 

$

 -

Released

 

 

(20,000)

 

$

1.18 

 

 

 -

 

$

 -

Forfeit

 

 

 -

 

$

 -

 

 

 -

 

$

 -

Outstanding at December 31, 2015

 

 

653,937 

 

$

0.32 

 

 

0.08 

 

$

305,572 

Awarded

 

 

340,480 

 

$

0.72 

 

 

0.70 

 

$

 -

Released

 

 

 -

 

$

 -

 

 

 -

 

$

 -

Forfeit

 

 

 -

 

$

 -

 

 

 -

 

$

 -

Outstanding at December 31, 2016

 

 

994,417 

 

$

0.72 

 

 

0.70 

 

$

731,845 

Expected to vest at December 31, 2016

 

 

994,417 

 

$

0.72 

 

 

 

 

 

 

Unrecognized expense at December 31, 2016

 

$

143,963 

 

 

 

 

 

 

 

 

 



Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock-Based Compensation Expense



 

 

 

 

 

 

 

 

Years ended December 31,

 

 

 

 

 

 

 



 

2016

 

2015

General and administrative

 

$

137,291 

 

$

496,278 



 

$

137,291 

 

$

496,278