12. STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2015

StockOptionsTablesAbstract

Stock option activity

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2013		1,164,000		$	1.21 - $2.45	$	1.73
Granted		227,000		$	1.00 – 1.21	$	1.01
Cancelled or expired		(265,000	)	$	1.00 – 2.25	$	1.91
Balance, December 31, 2014		1,126,000		$	1.21 - $2.45	$	1.54
Granted		317,000		$	0.75 - 1.05	$	0.89
Cancelled or expired		(245,000	)	$	1.05 – 2.22	$	1.72
Exercised		8,000		$	1.00	$	1.00
Balance, December 31, 2015		1,190,000		$	0.75 – 2.45	$	1.34
Exercisable, December 31, 2015		1,032,000		$	1.00 – 2.45	$	1.43

Fair value of each option grant

Expected life – years		3.0	%		3.0	%
Interest rate		0.78 – 1.16	%		0.78	%
Volatility		58-77	%		58	%
Dividend yield		--	%		--	%
Weighted average fair value of options granted	$	0.36-.37		$	0.36