8. Stockholders’ Equity (Tables)

9 Months Ended

Sep. 30, 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				Nine Months Ended
		September 30,				September 30,
		2016		2015		2016		2015
Weighted average expected
stock price volatility		81.7%		71.4%		71.8%		72.3%
Estimated dividend yield		-		-		-		-
Risk-free interest rate		1.3%		1.8%		1.4%		1.7%
Expected life of option (in years)		6.2		6.3		6.2		6.3
Weighted average grant date
fair value per option	$	4.20	$	30.90	$	12.59	$	42.60

Stock option activity

The following table shows the option activity, described above, during the nine months ended September 30, 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	703	$	55.42
Granted	328		19.64
Exercised	-		-		$	-
Cancelled	(372)		49.19
Expired	-		-
Options outstanding at September 30, 2016	659	$	41.13	8.3	$	37
Options vested and expected to
vest as of September 30, 2016	598	$	41.99	8.3	$	28
Options vested and exercisable as of September 30, 2016	235	$	50.87	7.4	$	-

Restricted stock activity

The following table shows the Company's non-vested restricted stock activity during the nine months ended September 30, 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	6	$	30.00
Granted	-		-
Vested	(6)		30.00	$	63
Forfeited	-		-
Non-vested restricted stock outstanding at September 30, 2016	-	$	-