8. Stockholders’ Equity (Tables)

3 Months Ended

Mar. 31, 2016

Stockholders Equity Tables

Stock option assumptions

The weighted average fair value of stock options granted during the periods and the assumptions used to estimate those values using the Black-Scholes option pricing mode were as follows:

		Three Months Ended
		March 31,
		2016			2015
Weighted average expected
stock price volatility		71.0	%		73.7	%
Estimated dividend yield		-	%		-	%
Risk-free interest rate		1.4	%		1.6	%
Expected life of option (in years)		6.2			6.3
Weighted average grant date
fair value per option	$	1.37		$	6.76

Stock option activity

The following table shows the option activity, described above, during the three months ended March 31, 2016 (share and intrinsic values in thousands):

				Weighted Average
			Average	Remaining		Aggregate
			Exercise	Contractual Life		Intrinsic
	Shares		Price	(years)		Value
Options Outstanding at December 31, 2015	7,030	$	5.54
Granted	2,917		2.14
Exercised	-		-		$	-
Cancelled	(302)		5.92
Expired	-		-
Options outstanding at March 31, 2016	9,645	$	4.50	8.9	$	-
Options vested and expected to
vest as of March 31, 2016	8,427	$	4.55	8.8	$	-
Options vested and exercisable as of March 31, 2016	1,796	$	5.00	7.7	$	-

Restricted stock activity

The following table shows the Company's non-vested restricted stock activity during the three months ended March 31, 2016 (share and intrinsic values in thousands):

			Weighted Average		Aggregate
			Grant Date Fair		Intrinsic
	Shares		Value		Value
Non-vested restricted stock outstanding at December 31, 2015	56	$	3.00
Granted	-		-
Vested	(25)		3.00	$	49
Forfeited	-		-
Non-vested restricted stock outstanding at March 31, 2016	31	$	3.00