Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLAN (Tables)

v3.8.0.1
STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLAN (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of weighted average estimated fair value of stock option grants

The weighted average estimated fair value of stock option grants and the weighted average assumptions that were used in calculating such values for the years ended December 31, 2017 and 2016 are as follows:

 

    2017     2016  
             
Risk-free interest rate     1.84-1.89 %     1.64 %
Expected volatility     36.87-39.17 %     37.07 %
Expected life (in years)     4.5-5.5       3.25-4.00  
Dividend rate     0       0  
Weighted-average estimated fair value per award   $ .17     $ .20  

 

Schedule of stock option activity for the year

A summary of stock option activity for the year ended December 31, 2017 is presented as follows:

 

                Weighted     Weighted  
          Weighted     Average     Average  
    Number     Average     Remaining     Grant  
    Of     Exercise     Contractual     Date  
    Shares     Price     Life     Fair Value  
                         
Outstanding at January 1, 2017     865,000     $ .89       2.7 years     $ .40  
Granted     2,000,000     $ .85             $ .17  
Exercised     (200,000 )   $ .72             $ .23  
Forfeited/expired/canceled     (530,000 )   $ .98             $ .49  
Outstanding at December 31, 2017     2,135,000     $ .85       8.3 years     $ .17  
Vested and exercisable at December 31, 2017     687,500     $ .86       .38 years     $ .18  

 

A summary of stock option activity for the year ended December 31, 2016 is presented as follows:

 

                Weighted     Weighted  
          Weighted     Average     Average  
    Number     Average     Remaining     Grant  
    Of     Exercise     Contractual     Date  
    Shares     Price     Life     Fair Value  
                         
Outstanding at January 1, 2016     1,035,000     $ .91       3.3 years     $ .40  
Granted     80,000     $ .67             $ .20  
Exercised                          
Forfeited/expired/canceled     (250,000 )   $ .92             $ .36  
Outstanding at December 31, 2016     865,000     $ .89       2.7 years     $ .40  
Vested and exercisable at December 31, 2016     767,825     $ .89       0 years     $ .40