Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.7.0.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Award Activity
The following table summarizes the Company’s stock option activity for the three months ended March 31, 2017:
 
 
  
Number of
Options
    
Weighted
Average
Exercise
Price
    
Weighted
Average
Remaining
Contractual
Life
(in Years)
    
Aggregate
Intrinsic
Value
  
Outstanding - December 31, 2016
    
69,950
    
$
12.07
      
9.0
    
$
156,975
  
Granted
    
240,000
      
10.72
                  
Exercised
    
-
      
-
                  
Forfeited/Canceled/Expired
    
(5,886
)
    
(32.63
)
                
Outstanding – March 31, 2017
    
304,064
    
$
10.61
      
9.8
    
$
80,500
  
 
                                
Exercisable – March 31, 2017
    
44,897
    
$
11.03
      
9.1
    
$
53,666
  
Schedule of Award Fair Value Assumptions
These options had an aggregate fair value of $1,260,000, using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate
    
2.13
%
Expected dividend yield
    
0.00
%
Expected volatility
    
52.09
%
Expected term
  
5.5 years