Quarterly report pursuant to Section 13 or 15(d)

12. Stock Options (Tables)

v3.5.0.2
12. Stock Options (Tables)
 9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock option activity
    Options Outstanding Number of Shares       Exercise Price per Share     Weighted Average Remaining Contractual Life     Aggregate Intrinsic Value     Weighted Average Exercise Price per Share  
Balance at December 31, 2015     1,407,736     $ 2.82 - 12.00        4.94 years     $ 58,512     $ 8.10  
Options Granted     85,086                                  
Options Exercised     –                                  
Options Cancelled     114,298                                  
Options Expired     –                                  
Balance at September 30, 2016     1,378,524     $ 2.82 - 12.00        4.24 years     $ 432,848     $ 8.12  
                                         
Exercisable December 31, 2015     100,021     $ 2.82        4.80 years     $ 58,512     $ 2.82  
Exercisable September 30, 2016     120,024     $ 2.82 - 6.00        4.20 years     $ 336,068     $ 3.35  
Assumptions used
Exercise Price $2.82 – $12.00
Dividend Yield 0%
Volatility 100% - 137%
Risk-free interest rate 0.89% - 1.25%
Expected life of options 2.5 - 3.5 years