Annual report pursuant to Section 13 and 15(d)

Stockholders' Deficit (Tables)

v3.8.0.1
Stockholders' Deficit (Tables)
12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Schedule of Assumption Used

In connection with the Series K Warrants, we calculated the fair value of the warrants received as described above using the Black- Scholes formula with the below assumptions:

 

Assumptions   Series K
Warrants
December 12, 2013
    Series K
Warrants
January 29, 2014
    Series K
Warrants
February 28, 2014
    Series K
Warrants
June 30, 2014
    Series K
Warrants
November 12, 2014
 
Contractual life (in months)     36       36       36       36       36  
Expected volatility     136.1       152.4       152.7       153.9       153.9  
Risk-free interest rate     0.39 %     0.39 %     0.39 %     0.90 %     0.90 %
Exercise price   $ 9.38     $ 9.38     $ 12.75     $ 11.25     $ 9.38  
Fair value per warrant   $ 6.00     $ 9.00     $ 11.10     $ 8.70     $ 6.90

Schedule of Concerning Options and Warrants Outstanding and Exercisable

The following tables summarize information concerning options and warrants outstanding and exercisable:

 

    Stock Options     Warrants     Total  
    Shares     Weighted
Average
price per
share
    Shares     Weighted
Average
price per
share
    Shares     Exercisable  
Balance outstanding, January 1, 2016     185,708     $ 13.20       974,256     $ 13.20       1,159,964       1,055,483  
Granted     -       -       272,652       12.60       272,652          
Exercised     -       -       (2,334 )     9.30       (2,334 )        
Expired     (6,200 )     30.00       (362,585 )     16.50       (368,785 )        
Forfeited     (3,866 )     15.30       -       -       (3,866 )        
Balance outstanding, December 31, 2016     175,642     $ 12.60       881,989     $ 12.00       1,057,631       991,032  
Granted     87,198       8.40       245,661       11.14       332,859          
Exercised     -       -       (19,889 )     7.50       (19,889 )        
Expired     (3,202 )     30.00       (208,219 )     11.46       (211,421 )        
Forfeited     (11,946 )     9.82       -       -       (11,946 )        
Balance outstanding, December 31, 2017     247,692     $ 10.95       899,542     $ 12.03       1,147,234       1,073,850

Schedule of Share-based Compensation Stock Option Plans by Exercise Price Range

      Options Outstanding     Options Exercisable  
      Weighted Average     Weighted Average  
Range of
Exercise Prices
    Number of
Options
    Remaining
Contractual
Life (Years)
    Exercise
Price
    Number of
Options
    Remaining
Contractual
Life (Years)
    Exercise
Price
 
$ 7.50 - $11.99       133,580       8.3     $ 8.63       80,997       7.7     $ 8.78  
  12.00 – 14.99       88,705       7.7       12.00       67,904       7.6       12.00  
  15.00 – 17.99       7,547       4.6       15.00       7,547       4.6       15.00  
  18.00 – 20.99       12,854       2.1       18.00       12,854       2.1       18.00  
  21.00 – 30.00       5,006       2.7       30.00       5,006       2.7       30.00  
$ 7.50 - $30.00       247,692       7.5     $ 10.95       174,308       7.0     $ 11.59