Annual report pursuant to Section 13 and 15(d)

11. Stock Based Compensation (Tables)

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11. Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Stock Based Compensation Tables  
Stock option activity

A summary of stock option activity for the years ended December 31, 2016 and 2015 is presented below:

 

    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life (years)     Aggregate Intrinsic Value  
                         
December 31, 2014     5,095,458       1.70       4.5       -  
Grants     2,150,000       0.55       4.6       -  
Cancellations     (525,000 )     -       -       -  
December 31, 2015     6,720,458       1.35       3.7       -  
                                 
Grants     1,600,000       0.99       4.6       -  
Exercises     (100,000 )     0.37       -       -  
Expirations     (5,001 )     22.00       -       -  
Cancellations     (665,000 )     -       -       -  
December 31, 2016     7,550,457       1.29       3.2       -  
                                 
Options exercisable at:                                
December 31, 2015     3,420,458       2.05       3.3          
December 31, 2016     6,700,457       1.31       3.0