11. STOCK OPTIONS (Tables)

3 Months Ended

Mar. 31, 2017

Stock Options Tables

Stock option activity

The following table summarizes the Company’s stock option activity for the year ended December 31, 2016 and the three-month period ended March 31, 2017:

	Number of shares			Exercise price per share		Weighted average exercise price
Balance, December 31, 2015		1,190,000		$	0.75 - $2.45	$	1.34
Granted		168,000		$	1.42	$	1.42
Cancelled or expired		(515,000	)	$	0.75 – 2.45	$	1.61
Exercised		(30,000	)	$	1.00 – 1.21	$	1.09
Balance, December 31, 2016		813,000		$	0.75 – 2.22	$	1.19
Cancelled or expired		(84,000	)	$	1.00 - 2.22	$	1.99
Exercised		(3,000	)	$	0.75	$	0.75
Balance, March 31, 2017		726,000		$	0.75 – 2.00	$	1.10
Exercisable, March 31, 2017		560,000		$	0.75 – 2.00	$	1.01

Fair value of each option grant

	2016
Expected life – years		3.0
Interest rate		1.37	%
Volatility		75.64	%
Dividend yield		--	%
Weighted average fair value of options granted	$	0.7073