0001144204-16-134884.txt : 20161116 0001144204-16-134884.hdr.sgml : 20161116 20161116112820 ACCESSION NUMBER: 0001144204-16-134884 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 51 CONFORMED PERIOD OF REPORT: 20160930 FILED AS OF DATE: 20161116 DATE AS OF CHANGE: 20161116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Monster Digital, Inc. CENTRAL INDEX KEY: 0001551986 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-37797 FILM NUMBER: 162001722 BUSINESS ADDRESS: STREET 1: 2125 B MADERA RD. CITY: SIMI VALLEY STATE: CA ZIP: 93065 BUSINESS PHONE: 805-955-4190 MAIL ADDRESS: STREET 1: 2125 B MADERA RD. CITY: SIMI VALLEY STATE: CA ZIP: 93065 FORMER COMPANY: FORMER CONFORMED NAME: Tandon Digital, Inc. DATE OF NAME CHANGE: 20120611 10-Q 1 v452764_10q.htm FORM 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2016

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________________ to ________________

Commission file number 001-37797

MONSTER DIGITAL, INC.
(Exact name of registrant as specified in its charter)

Delaware	27-3948465
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

2655 Park Center Drive, Unit C
Simi Valley, California 93065
(Address of principal executive offices, including zip code)

(805) 955-4190
(Registrant’s telephone number, including area code)

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	þ
(Do not check if smaller reporting company)
(Do not check if smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No þ

As of October 31, 2016, the registrant had 7,339,050 shares of common stock, par value $.0001 per share, issued and outstanding.

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION
ITEM 1.	FINANCIAL STATEMENTS	1
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	18
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	28
ITEM 4.	CONTROLS AND PROCEDURES	28
PART II – OTHER INFORMATION
ITEM 1.	LEGAL PROCEEDINGS	29
ITEM 1A.	RISK FACTORS	29
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	29
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	29
ITEM 4.	MINE SAFETY DISCLOSURES	29
ITEM 5.	OTHER INFORMATION	29
ITEM 6.	EXHIBITS	29

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

MONSTER DIGITAL, INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except shares and par value)

	December 31, 2015			September 30, 2016
	(Note 1)			(unaudited)
ASSETS
Current assets
Cash	$	119		$	2,970
Accounts receivable, net of allowances of $99 and $252, respectively		644			928
Inventories		633			1,789
Prepaid expenses and other		141			440
Total current assets		1,537			6,127
Trademark, net of amortization of $54 and $152, respectively		2,548			2,450
Deferred IPO costs		619			—
Deposits and other assets		14			14
Total assets	$	4,718		$	8,591
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current liabilities
Line of credit	$	215		$	—
Accounts payable		1,021			388
Accrued expenses		3,311			3,275
Customer refund		1,850			1,840
Due to related parties		510			—
Notes payable		3,505			38
Total current liabilities		10,412			5,541
Commitments and contingencies
Shareholders’ equity (deficit)
Preferred stock; 10,000,000 shares authorized; no shares issued and outstanding		—			—
Common stock; $.0001 par value; 100,000,000 shares authorized; 3,702,865 and 7,339,050 shares issued and outstanding, respectively		—			—
Additional paid-in capital		20,181			33,880
Accumulated deficit		(25,875	)		(30,830	)
Total shareholders’ equity (deficit)		(5,694	)		3,050
Total liabilities and shareholders’ equity (deficit)	$	4,718		$	8,591

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

MONSTER DIGITAL, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in Thousands, except per share amounts)

(unaudited)

	For the Three Months Ended						For the Nine Months Ended
	September 30,			September 30,			September 30,			September 30,
	2015			2016			2015			2016

Net sales	$	4,109		$	779		$	6,827		$	2,999
Cost of goods sold		3,577			687			6,034			2,430
Gross profit		532			92			793			569

Operating expenses
Research and development		98			54			288			168
Selling and marketing		505			550			1,563			1,777
General and administrative		1,321			1,852			3,083			3,322
Total operating expenses		1,924			2,456			4,934			5,267
Operating loss		(1,392	)		(2,364	)		(4,141	)		(4,698	)
Other (income) expense, net
Interest and finance expense		75			25			705			812
Gain on conversion of debt		-			(557	)		-			(557	)
Debt conversion expense		-			-			898			-
Total other (income) expense		75			(532	)		1,603			255
Loss before income taxes		(1,467	)		(1,832	)		(5,744	)		(4,953	)
Provision for income taxes		1			2			1			2
Net Loss	$	(1,468	)	$	(1,834	)	$	(5,745	)	$	(4,955	)

Loss Per Share
Basic and Diluted	$	(0.45	)	$	(0.27	)	$	(1.82	)	$	(1.05	)
Number of Shares used in Computation
Basic and Diluted		3,286			6,909			3,156			4,721

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

MONSTER DIGITAL, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (DEFICIT)

(Dollars in thousands, except shares)

(unaudited)

	Common Stock				Preferred Stock
	Shares		Amount		Shares			Amount		Additional Paid-in Capital		Accumulated Deficit			Shareholders’ Equity (Deficit)

Balance December 31, 2015		3,702,865	$	—		—		$	—	$	20,181	$	(25,875	)	$	(5,694	)
Issuance of preferred stock		—		—		2,802,430			—		2,393		—			2,393
Conversion of preferred to common stock		756,806		—		(2,802,430	)		—		—		—
Exchange of debt for equity		782,244		—		—			—		3,520		—			3,520
Issuance of common stock and warrants in IPO net of issuance costs		2,025,000		—		—			—		6,843		—			6,843
Issuance of restricted shares of common stock		72,135		—		—			—		—		—			—
Amortization of non-cash stock-based compensation		—		—		—			—		943		—			943
Net loss		—		—		—			—		—		(4,955	)		(4,955	)
Balance September 30, 2016		7,339,050	$	—		—		$	—	$	33,880	$	(30,830	)	$	3,050

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

MONSTER DIGITAL, INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollars in Thousands)
(unaudited)

	Nine Months Ended September 30,
	2015			2016
Cash flows from operating activities
Net loss	$	(5,745	)	$	(4,955	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation		283			943
Amortization of deferred debt issuance costs and debt discount		483			740
Amortization of trademark		21			98
Gain on conversion of debt to common stock		—			(557	)
Debt conversion expense		898			—
Provision for doubtful accounts		160			153
Changes in operating assets and liabilities:
Accounts receivable		1,942			(437	)
Inventories		1,406			(1,156	)
Prepaid expenses and other		(141	)		(299	)
Other assets		28			—
Accounts payable		(202	)		(633	)
Accrued expenses		(959	)		(124	)
Customer refund		1,843			(10	)
Due to related parties		(59	)		—
Net cash used in operating activities		(42	)		(6,237	)
Cash flows from financing activities
Proceeds from issuance of preferred stock, net		—			2,393
Private placement offering		2,969			—
Private placement issuance costs		(414	)		—
Short-term loan – related party, net		(51	)		—
Proceeds from issuance of IPO common stock and warrants		—			8,151
IPO costs		—			(689	)
Payments on bridge financing		—			(462	)
Proceeds from issuance of bridge financing		—			406
Proceeds from issuance of convertible debt and warrants		1,645			—
Proceeds from credit facility		6,969			581
Payments on credit facility		(10,782	)		(785	)
Payments on trademark note payable		—			(450	)
Deferred financing costs		(337	)		(57	)
Net cash (used in) provided by financing activities		(1	)		9,088
Net (decrease) increase in cash		(43	)		2,851
Cash, beginning of the period		97			119
Cash, end of the period	$	54		$	2,970
Supplemental disclosure of cash flow information
Cash paid during the period for:
Interest	$	221		$	55
Non-cash investing and financing activities:
Reclassification of deferred IPO costs	$	—		$	619
Exchange of debt for equity upon IPO	$	—		$	3,520
Deferred IPO costs	$	218		$	—
Stock purchase warrants issued with debt	$	335		$	—
Issuance of common stock in connection with trademark purchase	$	2,103		$	—
Exchange of debt for equity	$	2,272		$	—

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

MONSTER DIGITAL, INC. AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization: Monster Digital, Inc. (“MDI”), a Delaware corporation (formed in November 2010), and its subsidiary, SDJ Technologies, Inc. (“SDJ”) (collectively referred to as the “Company”), is an importer of high-end memory storage products, flash memory and action sports cameras marketed and sold under the Monster Digital brand name acquired under a long-term licensing agreement with Monster, Inc. The Company sources its products from China, Taiwan and Hong Kong.

Public Offering: The Company closed its initial public offering (the “Offering”) on July 13, 2016 and its common stock and warrants are listed on the Nasdaq Capital Market under the symbols “MSDI” and “MSDIW”, respectively. The Offering generated gross proceeds of $9,132,750 on the sale of 2,025,000 common shares at $4.50 per share and 2,025,000 warrants at $0.01 per warrant.

Basis of Presentation: The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the SEC’s instructions for interim financial information. They do not include all information and footnotes necessary for a fair presentation of financial position, operating results and cash flows in conformity with U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes for the year ended December 31, 2015 which are included in Form S-1 filed by the Company that was declared effective on July 7, 2016. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the operating results for the periods presented have been included in the interim periods. Operating results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for other interim periods or the year ending December 31, 2016. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates taking into consideration discrete items occurring in a quarter. The consolidated balance sheet as of December 31, 2015 is derived from the 2015 audited financial statements.

Principles of Consolidation: The consolidated financial statements include the accounts of MDI and SDJ. All significant intercompany transactions have been eliminated in consolidation.

Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities (including sales returns, price protection allowances, bad debts, inventory reserves, warranty reserves, and asset impairments), disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates

Concentration of Cash: The Company maintains its cash in bank accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. Management believes the Company is not exposed to any significant credit risk on its cash balances.

Accounts Receivable: Accounts receivable are carried at original invoice amount less allowance for doubtful accounts. Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts. Accounts receivable are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received. Accounts receivable are considered to be past due if any portion of the receivable balance is outstanding for more than 90 days past the customer’s granted terms. The Company does not charge interest on past due balances or require collateral on its accounts receivable. As of December 31, 2015 and September 30, 2016, the allowance for doubtful accounts was approximately $99,000 and $252,000, respectively.

Inventories: Inventories are stated at the lower of cost or market, with cost being determined on the weighted average cost method of accounting. The Company purchases finished goods and materials to assemble kits in quantities that it anticipates will be fully used in the near term. Changes in operating strategy, customer demand, and fluctuations in market values can limit the Company’s ability to effectively utilize all products purchased and can result in finished goods with above-market carrying costs which may cause losses on sales to customers. The Company’s policy is to closely monitor inventory levels, obsolescence and lower market values compared to costs and, when necessary, reduce the carrying amount of its inventory to its market value. As of December 31, 2015 and September 30, 2016, inventory on hand was comprised primarily of finished goods ready for sale and packaging and supplies.

Fair Value of Financial Instruments: Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on the assumptions that market participants would use in pricing an asset or liability. Fair value is based on a hierarchy of valuation techniques, which is determined on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s own market assumptions. These two types of inputs create a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1:

Quoted prices for identical instruments in active markets.

Level 2:

Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.

Level 3:

Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The carrying amount for other financial instruments, which include cash, accounts receivable, accounts payable, and line of credit, approximate fair value based upon their short term nature and maturity.

Revenue Recognition: Revenue is realized or realizable and earned when all of the following criteria are met: (1) persuasive evidence of an arrangement exists, (2) the sales price is fixed or determinable, (3) collectability is reasonably assured, and (4) products have been shipped and the customer has taken ownership and assumed the risk of loss. Distributors and retailers take full ownership of their product upon delivery and sales are fully recognized at that time.

Revenue is reduced by reserves for price protection, sales returns, allowances and rebates. Our reserve estimates are based upon historical data as well as projections of sales, customer inventories, market conditions and current contractual sales terms. If the Company reduces the list price of its products, certain customers may receive a credit from the Company (i.e. price protection). The Company estimates the impact of such pricing changes on a regular basis and adjusts its allowances accordingly. Amounts charged to operations for price protection are calculated based on actual price changes on individual products and customer inventory levels. The reserve is then reduced by actual credits given to these customers at the time the credits are issued. We calculate the allowance for doubtful accounts and provision for sales returns and rebates based on management’s estimate of the amount expected to be uncollectible or returned on specific accounts. We provide for future returns, price protection and rebates at the time the products are sold. We calculate an estimate of future returns of product by analyzing units shipped, units returned and point of sale data to ascertain consumer purchases and inventory remaining with retail to establish anticipated returns. Price protection is calculated on a product by product basis. The objective of price protection is to mitigate returns by providing retailers with credits to ensure maximum consumer sales. Price protection is granted to retailers after they have presented the Company an affidavit of existing inventory.

The Company also offers market development credits (“MDF credits”) to certain of its customers. These credits are also charged against revenue.

Shipping and Handling Costs: Historically, the Company has not charged its customers for shipping and handling costs, which is a component of marketing and selling expenses. These costs totaled approximately $175,000 and $24,000 in the three months ended September 30, 2015 and 2016, respectively, and approximately $269,000 and $118,000 in the nine months ended September 30, 2015 and 2016. respectively.

Income Taxes: Deferred tax assets and liabilities are determined based on the temporary differences between the financial reporting and tax basis of assets and liabilities and net operating loss carryforwards, applying enacted statutory tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that some or all of the deferred tax assets will not be realized.

The Company uses a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more likely than not to be realized upon settlement. As of December 31, 2015 and September 30, 2016, there are no known uncertain tax positions.

The Company’s policy is to classify the liability for unrecognized tax benefits as current to the extent that it is more likely than not to be realized upon settlement and to the extent that the Company anticipates payment (or receipt) of cash within one year. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in the tax provision.

Product Warranty: The Company’s memory products are sold under various limited warranty arrangements ranging from three years to five years on solid state drives and a limited lifetime warranty on all other products. Company policy is to establish reserves for estimated product warranty costs in the period when the related revenue is recognized. The Company has the right to return defective products to the manufacturer. As of December 31, 2015 and September 30, 2016, the Company has established a warranty reserve of $234,000 and $217,000, respectively. The warranty reserve is included in accrued expenses in the accompanying consolidated balance sheets.

Research and Development: The Company incurs costs to improve the appeal and functionality of its products. Research and development costs are charged to expense when incurred.

Earnings (Loss) per Share: Basic earnings (loss) per share is calculated by dividing net earnings (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated similarly but includes potential dilution from the exercise of common stock warrants and options and conversion of debt to equity, except when the effect would be anti-dilutive. Earnings (loss) per share are computed using the “treasury stock method.” At September 30, 2016, outstanding warrants to acquire 3,755,100 shares of common stock (2,025,000 issued further to the Offering, 1,405,007 issued in connection with the conversion of preferred stock and bridge loans upon closing of the Offering and 325,093 other warrants), 96,602 stock options, and $38,000 in convertible notes payable have been excluded from the computation of diluted loss per share because their effect was anti-dilutive.

Recently Issued Accounting Pronouncements — In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under ASU 2014-08, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations, which could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity. ASU 2014-08 also expands the disclosure requirements for disposals of operations to include more information about assets, liabilities, income and expenses and requires entities to disclose information about disposals of individually significant components. ASU 2014-08 is effective in the first quarter of 2015, with early adoption permitted. ASU 2014-08 could impact our consolidated financial results in the event of a transaction as described above.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective in the first quarter of 2018 and requires either a retrospective or a modified retrospective approach to adoption. We have not yet selected a transition method and are currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures.

In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements — Going Concern, which requires that management of an entity evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or available to be issued. This update will become effective beginning December 31, 2016, with early adoption permitted. The provisions of this standard are not expected to significantly impact the Company.

In April 2015, the FASB issued ASU 2015-03, Interest — Imputation of Interest, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015 and was adopted as of January 1, 2016. The adoption of ASU 2015-03 did not have a material impact on the Company’s consolidated financial statements.

In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. The standard requires entities to measure most inventory “at the lower of cost and net realizable value,” thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market (market in this context is defined as one of three different measures, one of which is net realizable value). The standard is effective for the Company prospectively beginning January 1, 2017. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize assets and liabilities for the rights and obligations created by most leases on their balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. ASU 2016-02 requires modified retrospective adoption for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact the standard may have on its consolidated financial statements and related disclosures.

Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company.

NOTE 2 — GOING CONCERN

As of September 30, 2016, the Company has incurred cumulative net losses from its inception of approximately $31 million and has incurred a year to date loss of approximately $5 million. These circumstances raise substantial doubt as to the Company’s ability to continue as a going concern. In response to this uncertainty, Management has taken certain measures in 2015 and to date in 2016 and has plans for the remainder of 2016 and beyond, with the objective of alleviating this concern. They include the following:

•

On July 13, 2016, the Company received gross proceeds of approximately $9.1 million upon closing the Offering.

•

In order to meet customers’ needs for consumer products, the Company is continuing to develop new products to complement existing products and expand overall product offerings, with the objective of increasing revenue and gross profit percentages. The Company introduced two new action sports camera in the third quarter of 2016 and will be introducing additional new action sports cameras in 2017.

While the Company believes it will be successful in obtaining the necessary financing to fund its operations, there are no assurances that such additional funding will be achieved and that it will succeed in its future operations. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts of liabilities that might be necessary should the Company be unable to continue in existence.

NOTE 3 — DEBT AND EQUITY FINANCING

Credit Facility

In June 2015, the Company secured an accounts receivable financing facility with Bay View Funding. The contract provides for maximum funding of $4 million and a factoring fee of 1.35% for the first 30 days and .45% for each 10-day period thereafter that the financed receivable remains outstanding. Upon the execution of this contract, the balance owed under a prior credit facility was repaid and that contract was terminated. The total amount outstanding under this facility as of December 31, 2015 and September 30, 2016 was $215,000 and $0, respectively. There are no financial or similar covenants associated with this facility.

Debt to Equity Exchange Offer

In December 2014, the Company extended an offer to its convertible Note holders for the exchange of convertible Notes, accrued interest and common stock purchase warrants into common stock. In the offer, the conversion rate on the principal amount of the Notes was reduced from $22.27 per share to $14.85 per share, with accrued interest being cancelled. Furthermore, in exchange for the cancellation of all warrants, the Note holders received .07 shares of common stock for every .13 shares that would have been issued upon exercise of the warrants.

As further inducement to the offer for the new shares issued in connection with the exchange offer, the Company’s principal shareholder agreed to put back to the Company an equal number of shares owned by him (to a maximum of 336,682 shares) and have such shares cancelled.

Through December 31, 2014, a total of $3,428,000 in convertible Notes had been converted to equity pursuant to the exchange offer. As a result of the foregoing exchange, $5,870,000 was credited to additional paid-in capital, which is the net amount of the principal of the Notes, unpaid accrued interest, unamortized debt discount, and the debt conversion expense. For the year ended December 31, 2015, the Company continued its private offering of convertible Notes concurrent with a related offer to exchange the notes for shares of common stock on the terms indicated above. During the nine-month period ended September 30, 2015, gross proceeds of $1,645,000 were raised in the offering from the issuance of convertible Notes payable. In March 2015, these Notes were converted to common stock pursuant to the exchange offer, resulting in an inducement charge of $898,000. As a result of these transactions, an additional 158,265 common shares were issued during the period. As of December 31, 2015 and September 30, 2016, a total of $38,000 in principal of convertible Notes payable remain outstanding. These Notes matured in the second quarter of 2015 and remain outstanding as of September 30, 2016.

Promissory notes

From October 2015 through March 7, 2016, the Company issued promissory notes; the notes are due and payable at the earlier of one year from the date of issuance or the closing date of the Company’s initial public offering, bear an interest rate of 15% that is accrued upon issuance, irrespective of whether the promissory note is outstanding for part or full term until maturity, and have a loan origination fee of $.225 for each dollar loaned. The loan origination fee associated with the notes as of September 30, 2016 was $756,000 and was recorded as accrued interest and debt discount to the notes payable and is being amortized over the life of the notes. Debt discount amortized as interest expense in the three and nine months ended September 30, 2016 was approximately $25,000 and $389,000, respectively. All principal, fees and interest were payable on the due date. In July 2016, the Company completed the Offering whereby 90% of the outstanding promissory notes totaling $3,024,000 were converted to 672,000 shares of common stock and 672,000 warrants at the offering price of $4.50 per share. The 15% accrued interest and the 22.5% origination fee were waived as part of the conversion. The remaining, unconverted $336,000 of promissory notes were paid out of the proceeds of the Offering along with the accrued interest and origination fee attributable to those notes. As of December 31, 2015, a total of $3.0 million in principal of these notes payable was outstanding and no balance is due as of September 30, 2016.

Due to Monster, Inc.

In addition to the issuance of shares of common stock and common stock purchase warrants (see Note 5), the Company has agreed to pay Monster, Inc. $500,000 as consideration for use of the name Monster Digital, Inc. pursuant to Amendment No. 3 to the Trademark License Agreement between the Company and Monster, Inc. Of this total balance, the Company agreed to pay $125,000 in December 2015 and the balance from the proceeds of the planned Offering. The Company paid $50,000 of the $125,000 in December 2015, $75,000 in January 2016 and the full remaining balance due in September 2016.

Notes payable consists of the following (in thousands):

	December 31, 2015		September 30, 2016
Note payable, convertible debt	$	38	$	38
Due to Monster, Inc.		450		—
Interest and loan origination fee accrued related to promissory notes payable and accrued at issuance		1,108		—
Promissory notes payable, 2015 bridge loans, net of debt discount of $563 and $0, respectively, and net of debt issuance cost of $483 and $0, respectively		1,909		—
Total	$	3,505	$	38

NOTE 4 — ACCRUED EXPENSES

Accrued expenses consist of the following (in thousands):

	December 31, 2015		September 30, 2016
Royalties	$	103	$	125
Market development credits		336		112
Price protection		563		139
Return reserves		891		218
Reserve for legal contingencies		300		468
Accrued purchase orders		123		982
Others		995		1,231
Total	$	3,311	$	3,275

NOTE 5 — STOCKHOLDERS’ EQUITY

Common Stock Purchase Warrants: From 2011 through June 30, 2015, the Company issued common stock purchase warrants in connection with the initial formation of the Company, the execution of a license agreement, and the issuance of convertible notes payable. All warrants have been valued on the date of their issuance using the Black-Scholes option pricing model using various assumptions regarding stock price volatility, risk-free interest rates, expected dividend rates, and expected term of the contract. Through September 30, 2016, none of the warrants have been exercised, and for the year ended December 31, 2015 and nine months ended September 30, 2016, 99,681 warrants have been canceled in connection with the exchange offer described above (see Note 3).

In August 2015, the Company issued 191,289 common stock purchase warrants in connection with an Advisory Board Agreement with Noel Lee, the Chief Executive Officer of Monster, Inc., and recognized a $156,000 charge related to the issuance. As of December 31, 2015 and September 30, 2016, warrants to purchase 325,093 shares of common stock are outstanding. Unexercised warrants will expire from 2016 to 2019.

The Company utilizes the Black-Scholes valuation method to value warrants. The expected life represents the period that these warrants are expected to be outstanding. The expected volatility was estimated by analyzing the historic volatility of similar public companies. No dividend payouts were assumed as the Company has not historically paid, and is not anticipating to pay, dividends in the foreseeable future. The risk-free rate of return reflects the interest rate offered for US treasury rates over the expected life of the warrants.

A summary of significant assumptions used to estimate the fair value of the warrants issued in August 2015 are as follows:

Fair value of warrants issued	$	.89
Expected term (years)		5.0
Risk-free interest rate		1.60	%
Volatility		45.4	%
Dividend yield		None

Common Stock Purchase Rights Offering: In April 2015, the Company initiated a common stock purchase rights offering to its existing shareholders. The offering consists of 108,138 Units, with each Unit consisting of 2 newly issued shares of common stock and 3 shares of common stock owned by the Company’s principal shareholder and chairman. Each Unit is offered for $44.55, with all proceeds going to the Company. In April 2015 through September 2015, the Company closed on the sale of approximately 78,800 Units (representing 236,403 newly issued common shares) and has received net proceeds of approximately $2,969,000.

Reverse Stock Splits: By action by written consent of the Company’s stockholders effective as of November 6, 2015, the Company’s stockholders approved a reverse stock split in a range of between one-for-five and one-for-twelve, such exact amount to be determined by the Company’s Board of Directors prior to the effective date of a planned equity offering. On January 7, 2016, the Board of Directors of the Company approved a one-for-11.138103 reverse

stock split. On June 6, 2016, the Board of Directors of the Company approved an additional one-for-1.2578616 reverse stock split. On June 23, 2016, the Board of Directors of the Company approved an additional one-for-1.06 reverse stock split. All share and per share information in these consolidated financial statements, except for par value and authorized shares, have been amended to reflect the reverse stock splits.

Restricted Shares: In August 2015, the Company issued 84,170 shares of restricted common stock to the Company’s Chairman of the Board pursuant to a consulting agreement. The consulting agreement was effective in May 2015 and $69,000 and $110,000 of compensation expense was recognized in the three and nine months ended September 30, 2015, respectively. Also related to the stock issuance, $68,000 and $205,000 of compensation expense was recognized in the three and nine months ended September 30, 2016, respectively.

In August 2015, the Company issued 382,575 shares of restricted common stock in connection to the Trademark License Agreement with Monster, Inc. The fair value of the 382,575 shares approximating $2,103,000 were recorded as part of the Trademark in August 2015. In regards to the valuation of the Company’s common stock, the Board of Directors engaged an independent third party valuation of the Company. Factors included in the valuation included the Company’s present value of future cash flows, its capital structure, valuation of comparable companies, its existing licensing agreements and the growth prospects for its product line. These factors were incorporated into an income approach and a market approach in order to derive an overall valuation of the Company’s common stock of $5.49 per share at August 2015.

In August 2016, the Company authorized the issuance of 545,000 shares of restricted common stock pursuant to employment agreements and recognized $66,000 of compensation expense during the three months ended September 30, 2016 related to the restricted shares. Also in August 2016, the Company authorized the issuance of 40,000 shares of restricted common stock pursuant to a services agreement with an investment relations firm and recognized $16,000 of compensation expense related to restricted shares during the three months ended September 30, 2016. In addition, the Company authorized the issuance of 125,000 shares of restricted common stock to Jawahar Tandon pursuant to a consulting agreement and recognized $563,000 of compensation expense related to the restricted shares during the three months ended September 30, 2016.

Preferred Stock: In March 2016, the Company issued a confidential Private Placement Memorandum (“PPM”) for a maximum of 3,000,000 shares of Series A Convertible Preferred Stock, with a purchase price of $1.00 per share and convertible into one share of the Company’s common stock and having an 8%, noncumulative dividend. Pursuant to the PPM, as of June 30, 2016, 2,802,430 shares of Series A Preferred Stock were subscribed for net proceeds of approximately $2.4 million. In July 2016, the Company completed the Offering in which all shares of Series A Preferred Stock was converted into 622,762 shares of common stock and 622,762 warrants at the public offering price of $4.50 per share and the issuance of 134,044 shares of common stock further to the conversion.

NOTE 6 — STOCK OPTIONS

In 2012, the Company’s Board of Directors approved the 2012 Omnibus Incentive Plan (the “Plan”) which allows for the granting of stock options, stock appreciation rights, awards of restricted stock and restricted stock Units, stock bonuses and other cash and stock-based performance awards. A total of 101,005 shares of common stock have been approved and reserved for issuance under the Plan. In November 2015, the Company’s stockholders approved a 269,345 share increase in that number of shares reserved for issuance under the Plan such that a total of 370,350 shares of common stock have been approved and reserved for issuance under the Plan. As of December 31, 2015 and September 30, 2016, 71,040 options had been granted under the Plan. During the nine months ended September 30, 2016, 60,940 options were forfeited for employees who were no longer with the Company and were returned to the pool of available options.

On December 23, 2015, the Company authorized restricted stock grants under its 2012 Omnibus Incentive Plan of 13,467 shares to David Clarke in connection with his appointment as the Company’s President and Chief Executive Officer and 33,668 shares to Neal Bobrick in connection with his appointment as the Company’s Executive Vice President, Sales and Marketing, grants accepted and effective January 4, 2016. The Company recorded non-cash stock-based compensation of $21,000 and $65,000 during the three and nine months ended September 30, 2016, respectively, related to the issuance of restricted stock. An additional $194,000 of stock-based compensation remains to be recognized over 27 months.

On the effective date of the Offering, 25,000 shares of restricted stock were granted to each of David Olert, the Company’s Chief Financial Officer, Vivek Tandon, the Company’s Executive Vice President - Operations and Marc Matejka, the Company’s Vice President of Operations as well as 36,332 restricted shares to Neal Bobrick, its Executive Vice President – Sales and Marketing. Concurrently, 10,000 shares of restricted stock were granted to each of the Company’s four outside directors. The Company recorded non-cash stock-based compensation of $80,000 during the three months ended September 30, 2016 related to these issuances of restricted stock. An additional $601,000 of stock-based compensation remains to be recognized over 45 months.

Also granted on the effective date of the Offering were previously approved options to acquire 16,834 and 33,668 common shares at an exercise price per share of $4.50 to David Olert and Neal Bobrick, respectively. Options to purchase 18,000 common shares at an exercise price per share of $4.50 were granted each to Vivek Tandon and Marc Matejka. The Company recorded non-cash stock-based compensation of $12,000 during the three months ended September 30, 2016 related to these issuances of common stock options. An additional $164,000 of stock-based compensation remains to be recognized over 45 months.

In August 2016, pursuant to a services agreement, the Company granted options to acquire 38,143 shares of common stock to an investor relations firm and recognized $2,000 of non-cash stock-based compensation related to the issuance during the three months ended September 30, 2016. An additional $32,000 of stock-based compensation remains to be recognized over 9 months.

The Company follows the provision of ASC Topic 718, Compensations – Stock Compensation which requires the measurement and recognition of compensation expense for all stock-based payment awards made to employees and non-employee directors, including employee stock options. Stock compensation expense based on the grant date fair value estimated in accordance with the provisions of ASC 718 is generally recognized as an expense over the requisite service period.

In 2015 and 2016, the following stock option grants were made:

Option Date	Options Granted		Exercise Price		Estimated Fair Value of Underlying Stock		Intrinsic Value
May 2015		71,040	$	29.71	$	5.79	None
July 2016		86,502	$	4.50	$	4.50	None
August 2016		6,004	$	5.00	$	3.00	None
August 2016		7,230	$	7.00	$	3.00	None
August 2016		9,986	$	9.00	$	3.00	None
August 2016		14,923	$	11.00	$	3.00	None

The Company’s Board of Directors granted options for 71,040 shares of common stock to certain employees on May 8, 2015. The option prices were determined based on such factors as recent equity transactions and other factors as deemed necessary and relevant in the circumstances. The exercise prices for options granted were set by the Company’s Board of Directors at a premium over fair market value of its common stock at the time the grants were authorized.

In regards to the valuation of the Company’s common stock prior to the Offering, the Board of Directors engaged an independent third party valuation of the Company. Factors included in the valuation included the Company’s present value of future cash flows, its capital structure, valuation of comparable companies, its existing licensing agreements and the growth prospects for its product line. These factors were incorporated into an income approach and a market approach in order to derive an overall valuation of the Company’s common stock of $5.79 per share at May 8, 2015.

The Company utilizes the Black-Scholes valuation method to value stock options and recognizes compensation expense over the vesting period. The expected life represents the period that the Company’s stock-based compensation awards are expected to be outstanding. The Company uses a simplified method provided in Securities and Exchange Commission release Staff Accounting Bulletin No. 110 which averages an awards weighted average vesting period and contractual term for “plain vanilla” share options. The expected volatility was estimated by analyzing the historic volatility of similar public companies. No dividend payouts were assumed as the Company has not historically paid, and is not anticipating to pay, dividends in the foreseeable future. The risk-free rate of return reflects the weighted average interest rate offered for U.S. treasury rates over the expected life of the options.

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2015 are as follows:

Weighted average fair value of options granted	$	0.45
Expected term (years)		6.0 to 6.25
Risk-free interest rate		1.89	%
Volatility		45.4	%
Dividend yield		None

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2016 are as follows:

Weighted average fair value of options granted	$	1.70
Expected term (years)		6.0 to 10.0
Risk-free interest rate		1.21% to 1.51	%
Volatility		45.4	%
Dividend yield		None

The Company recorded non-cash stock-based compensation related to stock options of $28,000 during the nine months ended September 30, 2016. An additional $197,000 of stock-based compensation related to stock options remains to be amortized over 45 months.

A summary of option activity for the Plan as of September 30, 2016 and changes for the nine months then ended are represented as follows:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contract Term (Years)		Aggregate Intrinsic Value
Options outstanding January 1, 2016		71,040		$	29.71		9.50	$	—
Granted		124,645			5.81		9.83		—
Forfeited		(60,940	)		—		—		—
Outstanding at September 30, 2016		134,745		$	7.60		9.75	$	—

NOTE 7 — RELATED PARTY TRANSACTIONS

Borrowings: From time to time, the Company receives short-term, non-interest bearing loans from Tandon Enterprises, Inc. for the purpose of funding temporary working capital needs. For the nine months ended September 30, 2016, the Company borrowed $24,000, net of repayments. The $346,100 owed to Tandon Enterprises at June 30, 2016 was converted into 76,911 shares of common stock and warrants at the effective date of the Offering.

In September 2015 David Clarke, the Company’s Chairman of the Board and a significant stockholder of the Company, loaned the Company $100,000 further to a promissory note bearing interest at 5% per annum, principal and unpaid interest payable on demand. In addition, Mr. Clarke incurred expenses on behalf of the Company totaling approximately $50,000. Concurrent with the closing of the Offering, the loan and liability related to the expenses were converted into 33,333 shares of common stock and 33,333 warrants at the public offering price of $4.50.

NOTE 8 — INCOME TAXES

For the nine months ended September 30, 2015 and 2016, respectively, there was a $1,000 and $2,000 income tax provision recorded related to state minimum taxes due. The Company’s income tax provision generally consists of state income taxes currently paid or payable.

The ultimate realization of the deferred tax asset is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Due to the uncertainty surrounding the realization of these deferred tax assets, the Company has recorded a 100% valuation allowance. Net operating loss carryforwards expire between the years 2029 and 2035. Tax years ended December 31, 2014, 2013 and 2012 are open and subject to audit.

The effective income tax provision as a percentage of pre-tax loss differs from expected combined federal and state income tax of 40% as a result of the full valuation allowance.

Management is not aware of any uncertain tax positions and does not expect the total amount of recognized tax benefits to change significantly in the next twelve months.

NOTE 9 — CUSTOMER AND VENDOR CONCENTRATIONS

Customers:

Approximately 69% of the Company’s gross sales were made to three customers with each exceeding 10% of total gross sales for the nine months ended September 30, 2015. Approximately 42% of the Company’s gross sales were made to one customer for the nine months ended September 30, 2016. At September 30, 2016, the amount included in outstanding accounts receivable related to this customer was approximately $684,000.

Vendors:

Approximately 69% of the Company’s purchases were provided by four vendors for the nine months ended September 30, 2015. Approximately 95% of the Company’s purchases were provided by three vendors for the nine months ended September 30, 2016. At September 30, 2016, the amount in accounts payable related to these vendors was approximately $21,000.

NOTE 10 — COMMITMENTS AND CONTINGENCIES

Royalty

The Company entered into the initial trademark license agreement with Monster, Inc. (formerly Monster Cable Products, Inc.) effective July 7, 2010. In 2012, the agreement was amended giving the Company exclusive rights to utilize the name “Monster Digital” on memory products for a period of 25 years (expires July 7, 2035) under the following payment schedule of royalties to Monster, Inc. This license agreement contains various termination clauses that include (i) change in control, (ii) breach of contract and (iii) insolvency, among others. The Company is required to remit royalty payments to Monster, Inc. on or before the 30^th day following the end of each calendar quarter. At any time during the term of the agreement, a permanent license may be negotiated.

The royalty schedule became effective in August 2011 and was further amended in April 2012. As amended, royalties under this contract are as follows:

•

Years 1 (2012) and 2: Royalties on all sales excluding sales to Monster, Inc. at a rate of four (4) percent, with no minimum.

•

Years 3 through 6: Minimum royalty payments of $50,000 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

•

Years 7 through 10: Minimum royalty payments of $125,000 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

•

Years 11 through 15: Minimum royalty payments of $187,500 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

•

Years 16 through 25: Minimum royalty payments of $250,000 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

Effective July 1, 2014, the royalty rate on certain products was reduced from 4% to 2% for a period of 12 months, based on a mutual understanding between the Company and the licensor.

For the three months ended September 30, 2015 and 2016, royalty expense amounted to approximately $44,000 and $125,000, respectively. For the nine months ended September 30, 2015 and 2016, royalty expense amounted to approximately $112,000 and $246,000, respectively, and is included as a component of selling and marketing expenses in the accompanying consolidated statements of operations (see Note 4).

Operating Lease

The Company occupies executive offices in Simi Valley, CA pursuant to a lease through January 31, 2018 at a monthly rental rate of $13,850.

Customer Payment Agreement

In July 2015, the Company entered into an agreement with a customer under which the Company will pay the customer a total of $835,000 owed to the customer for promotional and other credits related to sales that occurred in 2014. The credits were accrued as contra-sales in 2014. Under the terms of the agreement, there is no interest and the Company will make 12 monthly payments of $65,000 beginning in August 2015, and one final payment of $65,000 in August 2016. The Company is not in compliance with the payment agreement and the balance owed is $445,000 at September 30, 2016.

Legal Matters

The Company is subject to certain legal proceedings and claims arising in connection with the normal course of its business. In the opinion of management, the reserve established for the three cases noted below is adequate so that the claims will have no material adverse effect on its consolidated financial position, results of operations or cash flows.

On March 9, 2015, Memphis Electronics, Inc. (“MEI”) filed a complaint against SDJ and the Company, case no. 4:15-cv-1104; in U.S. District Court for the Southern District of Texas. The complaint alleged breach of contract and tort for an alleged order or orders for computer components. Plaintiff’s claims are based in contract and tort (negligent and intentional misrepresentations) relating to nonpayment of approximately $275,000 for goods ordered. In August 2016, the Company settled the complaint for (i) a payment of $170,000 to MEI, (ii) the return from MEI of the components that were in dispute, and (iii) the parties mutually releasing each other from all claims that were filed or that could have been filed in this litigation.

On August 18, 2015, Phison Electronics Corp. (“Phison”) filed a complaint against SDJ, case no. 115 CV284516, in California Superior Court in Santa Clara County. The complaint alleged breach of contract and breach of implied covenant of good faith and fair dealing resulting in claimed damages of approximately $585,000 in connection with SDJ’s alleged failure to purchase products manufactured on its account by Phison. While the complaint has been filed, Phison has not yet served it. For this reason, the Court dismissed the case, without prejudice, for failure of Phison to file a return of service and no case is currently pending. SDJ believes the claims are without merit.

On August 28, 2015, Unigen Corporation (“Unigen”) filed a complaint against SDJ, case no. HG15-78385, in California Superior Court in Alameda County. The complaint alleged breach of contract for an alleged order or orders for 219,200 specially constructed computer components. The complaint seeks $180,000 in lost profit; $678,669 for the cost of parts ordered; and $35,000 in incidental expenses. In February 2016, the Company met with Unigen in an attempt to mediate the matter. However, the mediation was not successful. The parties were required to engage in a second mediation before December 31, 2016 to be followed by a January 6, 2017 settlement conference. On October 26, 2016, the parties met again to mediate the matter and entered into a stipulated settlement whereby SDJ is to pay Unigen $225,000 within thirty days at which time the case will be dismissed with prejudice. This settlement amount has been fully accrued in a legal reserve.

On February 16, 2016, we received a letter from GoPro, Inc., or GoPro, alleging that we infringe on at least five U.S. patents held by GoPro, and requesting that we confirm in writing that we will permanently cease the sale and distribution of our Villain camera, along with any camera accessories, including the waterproof camera case and standard housing. The five patents specifically identified by GoPro in the letter were U.S. Patent No. D710,921: camera housing design, U.S. Patent No. D702,747: camera housing design, U.S. Patent No. D740,875: camera housing design, U.S. Patent No. D737,879: camera design and U.S. Patent No. 721,935: camera design. Based upon our preliminary review of these patents, we believe we have some defenses to GoPro’s allegations. Our outside counsel has been in discussion with GoPro’s outside counsel and has forwarded them material which we believe supports defense to these allegations, all in an effort to move the matter to resolution. As of yet, there is no final resolution to this matter and there can be no assurance that we will be successful in defending against these allegations or reaching a business resolution that is satisfactory to us.

The supplier of our Villain camera has contractually represented and warranted that it owns or has paid royalties to any and all intellectual property, designs, software, hardware, packaging, components, manuals and any other portion, part or element that is or may be subject to the Villain and the parts and accessories thereof sourced by the supplier. This supplier has contractually agreed to pay any claims, damages, or costs that we suffer as a result of the patent infringement or a violation of international, U.S. or state laws or regulations as detailed in the prior sentence.

ITEM 2.

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

The following discussion of our financial condition and results of operations should be read in conjunction with our unaudited condensed interim financial statements and the notes to those financial statements appearing elsewhere in this Report.

Certain statements in this Report constitute forward-looking statements. These forward-looking statements include statements, which involve risks and uncertainties, regarding, among other things, (a) our projected sales, profitability, and cash flows, (b) our growth strategy, (c) anticipated trends in our industry, (d) our future financing plans, and (e) our anticipated needs for, and use of, working capital. They are generally identifiable by use of the words “may,” “will,” “should,” “anticipate,” “estimate,” “plan,” “potential,” “project,” “continuing,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend,” or the negative of these words or other variations on these words or comparable terminology. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this filing will in fact occur. You should not place undue reliance on these forward-looking statements.

The forward-looking statements speak only as of the date on which they are made and, except to the extent required by federal securities laws, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which the statements are made or to reflect the occurrence of unanticipated events.

The “Company”, “we,” “us,” and “our,” refer to Monster Digital, Inc. and its wholly-owned subsidiary SDJ Technologies, Inc.

Overview

General

Our primary business focus is the design, development and marketing of premium products under the “Monster Digital” brand for use in high-performance computing and consumer and mobile product applications. We have invested significantly in building a broad distribution channel for the sale of products bearing the “Monster Digital” brand. As of September 30, 2016, our initial product entries of memory storage devices and peripherals and action sports cameras are offered in over 15,000 locations globally. Our top four customers for our products for the nine months ended September 30, 2016 were Rite Aid (42%), Synchro France (8%), In Motion (7%) and Fry’s (7%). Our current focus is to leverage our distribution network through cooperating with Monster, Inc. to identify and market additional specialty and consumer electronics products.

Currently, our primary product offerings are as follows:

•

A line of action sports cameras used in adventure sport, adventure photography and extreme-action videography.

•

A line of ultra-small mobile external memory drive products for Apple iOS devices.

•

On-The-Go Cloud devices on an exclusive basis which create a wi-fi hot spot for multiple users while simultaneously allowing data to be viewed, played or transferred among the connected storage.

•

A broad selection of high-value memory storage products consisting of high-end, ruggedized Solid State Drives (“SSDs”), removable flash memory CompactFlash cards (“CF cards”), secured digital cards (“SD cards”) and USB flash drives.

Our license with Monster, Inc. allows us to manufacture and sell certain high-end products, utilizing the Monster premium brand name which is highly recognized by consumers for its high quality audio-video products. We work with our world-class subcontract manufacturers and suppliers to offer new and enhanced products that use existing technology and adopt new technologies to satisfy existing and emerging consumer demands and preferences. On the marketing side, we partner with Monster, Inc. to support the sales and marketing of these products on a global basis.

Historically, memory has been the most significant part of our business and it is a commodity that tends to be subject to price erosion. Using the Monster branding to quickly introduce new technologies to the market is designed to bring about the introduction of products that are not subject to the same level of downward pressure on pricing as is common with memory products. In addition, we intend to expand and continue to invest in our international operations, which we believe will be an important factor in our continued growth.

As a result of our strategy to increase our investments in sales, marketing, support, and international expansion, we expect to continue to incur operating losses and negative cash flows from operations at least in the near future and may require additional capital resources to execute strategic initiatives to grow our business.

Net sales

The principal factors that have affected or could affect our net sales from period to period are:

•

The condition of the economy in general and of the memory storage products industry in particular,

•

Our customers’ adjustments in their order levels,

•

Changes in our pricing policies or the pricing policies of our competitors or suppliers,

•

The addition or termination of key supplier relationships,

•

The rate of introduction and acceptance by our customers of new products,

•

Our ability to compete effectively with our current and future competitors,

•

Our ability to enter into and renew key corporate and strategic relationships with our customers, vendors and strategic alliances,

•

Changes in foreign currency exchange rates,

•

A major disruption of our information technology infrastructure,

•

Unforeseen catastrophic events, such as armed conflict, terrorism, fires, typhoons and earthquakes, and

•

Any other disruptions, such as labor shortages, unplanned maintenance or other manufacturing problems.

Cost of goods sold

Cost of goods sold primarily includes the cost of products that we purchase from third party manufacturers and sell to our customers. Additional packaging and assembly (labor) costs for certain product orders is also a component of costs of goods sold. Cost of goods sold is also affected by inventory obsolescence if our inventory management is not effective or efficient. We mitigate the risk of inventory obsolescence by stocking relatively small amounts of inventory at any given time, and relying instead on a strategy of manufacturing or acquiring products based on orders placed by our customers.

General and administrative expenses

General and administrative expenses relate primarily to compensation and associated expenses for personnel in general management, information technology, human resources, procurement, planning and finance, as well as outside legal, investor relations, accounting, consulting and other operating expenses.

Selling and marketing expenses

Selling and marketing expenses relate primarily to salary and other compensation and associated expenses for internal sales and customer relations personnel, advertising, outbound shipping and freight costs, tradeshows, royalties under a brand license, and selling commissions.

Research and development expenses

Research and development expenses consist of compensation and associated costs of employees engaged in research and development projects, as well as materials and equipment used for these projects, and third party compensation for research and development services. We do not engage in any long-term research and development contracts, and all research and development costs are expensed as incurred.

Other expenses

Interest and finance expense includes interest paid or payable to a finance company for outstanding borrowings, bank fees, purchase order finance fees, interest accrued on convertible debt, amortization of a debt discount that arose as a result of the issuance of warrants with convertible debt, and amortization of debt issuance costs. Debt conversion expense is a non-cash charge for the effect of an induced conversion of debt to equity

Three Months ended September 30, 2016 Compared to Three Months ended September 30, 2015

Results of Operations

The following discussion explains in greater detail our consolidated operating results and financial condition. This discussion should be read in conjunction with the consolidated financial statements and notes herein.

	Three months ended September 30,
	2016		2015
	(in thousands)
Net sales	$	779	$	4,109

Net sales for the three months ended September 30, 2016 decreased approximately 81% to $779,000 from $4.1 million for the three months ended September 30, 2015. One of our largest customers in 2015 is no longer a customer in 2016. In addition, one of our largest customers for memory products in the three months ended September 30, 2015 did not purchase memory product in the three months ended September 30, 2016. A strategy to transition quickly from lower margin digital memory products to higher margin products contributed to the decrease in sales with the action sports camera line staged for sales in the fourth quarter of the year.

	Three months ended September 30,
	2016			2015
	(in thousands)
Cost of goods sold	$	687		$	3,577
Gross profit	$	92		$	532
Gross profit margin		11.8	%		12.9	%

Cost of goods also decreased 81% along with the decrease in sales. As a percent of net sales, cost of goods sold was 88.2% in the three months ended September 30, 2016 as compared to 87.1% for the three months ended September 30, 2015. In general, gross profit as a percentage of net sales is a result of a combination of factors, including product mix, customer mix, and specific pricing decisions and, in particular, our current product mix includes the new action sport camera product line that is positively impacting gross margin. These factors can affect a significant change in gross profit as a percentage of net sales from one period to the next, particularly when sales are relatively low. Indirect costs, which are semi-fixed in nature, negatively impacted gross margin when sales decrease. Gross profit in the three months ended September 30, 2016 decreased to $92,000 from $532,000 in the three months ended September 30, 2015. Gross profit as a percentage of net sales was 11.8% in the three months ended September 30, 2016, compared to 12.9% in the three months ended September 30, 2015.

	Three months ended September 30,
	2016		2015
	(in thousands)
Selling and marketing	$	550	$	505
General and administrative	$	1,852	$	1,321

Sales and marketing for the three months ended September 30, 2016 increased approximately 9%, to $550,000, compared to $505,000 for the three months ended September 30, 2015. The increase in sales and marketing expense was significantly attributable to the increase in royalty expense as the Monster, Inc. royalty payment rate increased during the quarter.

General and administrative expenses for the three months ended September 30, 2016 increased by approximately 40% to $1,852,000 compared to $1,321,000 in the three months ended September 30, 2015. There was a $600,000 increase in stock-based compensation in the three months ended September 30, 2016 as compared to the three months ended September 30, 2015.

	Three months ended September 30,
	2016		2015
	(in thousands)
Research and development (“R&D”)	$	54	$	98

R&D for the three months ended September 30, 2016 decreased approximately 45% to $54,000, compared to $98,000 for the three months ended September 30, 2015. The decrease is most significantly related to having one less employee in the three months ended September 30, 2016 as compared to the three months ended September 30, 2016. Our R&D function has been managed by one employee, and we use the services of third party software engineers to complement our needs on a product-by-product basis if and when needed. With respect to our products, the basic functional technology we use changes very little over time, therefore, our R&D spending is primarily related to enhancing existing functionality, introducing new functions within existing products, and designing and engineering new products largely with existing proven technology. We do not expect that R&D costs as a percentage of sales will be significant for the foreseeable future.

	Three months ended September 30,
	2016			2015
	(in thousands)
Interest and finance expense	$	25		$	75
Gain on debt conversion		(557	)		—

Interest expense for the three months ended September 30, 2016 and 2015 is primarily related to our accounts receivable factoring facility which was less utilized in the current quarter. For the three months ended September 30, 2016, a $557,000 gain on debt conversion resulted from bridge loan accrued interest and deferred financing costs converting to common stock as part of our public offering.

	Three months ended September 30,
	2016		2015
	(in thousands)
Income tax provision	$	2	$	1

Income tax expense generally consists of state income taxes due or paid in the states in which we operate. We have not recognized a deferred tax benefit for the operating losses generated during the periods due to the uncertainty that we will generate taxable income in the future that will allow us to utilize the benefit.

Nine Months ended September 30, 2016 Compared to Nine Months ended September 30, 2015

Results of Operations

	Nine months ended September 30,
	2016		2015
	(in thousands)
Net sales	$	2,999	$	6,827

Net sales for the nine months ended September 30, 2016 decreased approximately 56% to $3.0 million from $6.8 million for the nine months ended September 30, 2015. This decrease occurred primary during the third quarter of 2016 and is related to the reduction in sales for top customers who had placed significant orders for memory product in the third quarter of 2015 but who either did not order, or ordered in reduced amounts, in the third quarter of 2016. A strategy to transition quickly from lower margin digital memory products to higher margin products contributed to the decrease in sales with the action sports camera line staged for sales in the fourth quarter of the year. In addition, cash constraints prior to our public offering limited our ability to aggressively build and fill a pipeline for our products.

	Nine months ended September 30,
	2016			2015
	(in thousands)
Cost of goods sold	$	2,430		$	6,034
Gross profit	$	569		$	793
Gross profit margin		19.0	%		11.6	%

Cost of goods sold decreased approximately $3.6 million for the nine months ended September 30, 2016 to $2.4 million compared to $6.0 million for the nine months ended September 30, 2015. As a percent of net sales, cost of goods sold decreased to 81.0% in the nine months ended September 30, 2016 from 88.4% for the nine months ended September 30, 2015. The decrease in cost of sales as a percentage of net sales is attributable to higher margin products in our sales mix as well as improving control over sales adjustments in the nine months ended September 30, 2016 as compared to the nine months ended September 30, 2015. Gross profit in the nine months ended September 30, 2016 decreased to $569,000 from $793,000 in the nine months ended September 30, 2015. Gross profit as a percentage of net sales was 19.0% in the nine months ended September 30, 2016, compared to 11.6% in the nine months ended September 30, 2015.

	Nine months ended September 30,
	2016		2015
	(in thousands)
Selling and marketing	$	1,777	$	1,563
General and administrative	$	3,322	$	3,083

Selling and marketing for the nine months ended September 30, 2016 increased approximately 14%, to $1.8 million, compared to $1.6 million for the nine months ended September 30, 2015. The increase in selling and marketing expense was significantly attributable to the increase in royalty expense as the Monster, Inc. royalty payment rate increased during the third quarter of 2016.

General and administrative expenses for the nine months ended September 30, 2016 increased by approximately 8% to $3.3 million compared to $3.1 million in the nine months ended September 30, 2015. The increase was significantly attributable to an increase in stock-based compensation in the nine months ended September 30, 2016 as compared to the nine months ended September 30, 2015.

	Nine months ended September 30,
	2016		2015
	(in thousands)
Research and development (“R&D”)	$	168	$	288

R&D for the nine months ended September 30, 2016 decreased approximately 42% to $168,000, compared to $288,000 for the nine months ended September 30, 2015. The decrease is most significantly related to having one less employee in the nine months ended September 30, 2016 as compared to the nine months ended September 30, 2016 as well as a reduction in consulting expenses.

	Nine months ended September 30,
	2016			2015
	(in thousands)
Interest and finance expense	$	812		$	705
Gain on debt conversion		(557	)		—
Debt conversion expense	$	—		$	898

For the nine months ended September 30, 2016, we incurred approximately $740,000 in amortization of debt discount and deferred financing costs related to bridge loan financing and $55,000 of interest expense related to accounts receivable financing. For the nine months ended September 30, 2015 we incurred approximately $483,000 in amortization of debt discount and deferred financing costs related to bridge loan financing and $221,000 of interest expense related to accounts receivable financing. For the nine months ended September 30, 2016, a $557,000 gain on debt conversion resulted from bridge loan accrued interest and deferred financing costs converting to common stock as part of our public offering. For the nine months ended September 30, 2015, debt conversion expense of $898,000 was a non-cash expense incurred as an inducement for the exchange of our convertible notes and warrants further to our exchange offer, with a corresponding credit to additional paid-in capital.

	Nine months ended September 30,
	2016		2015
	(in thousands)
Income tax provision	$	2	$	1

Financial Condition

Liquidity and Capital Resources

Our primary sources of liquidity throughout the nine months ended September 30, 2016 and 2015 have been our initial public offering, cash raised in private placements of preferred stock, common stock and notes payable and an accounts receivable factoring credit facility. In addition, from time to time, we have obtained short-term, non-interest bearing loans from a related party to complement our working capital needs.

In September 2015, we secured an accounts receivable financing facility with Bay View Funding. The contract provides for maximum funding of $4.0 million and a factoring fee of 1.35% for the first 30 days and .45% for each 10-day period thereafter that the financed receivable remains outstanding. As of September 30, 2016, there was no balance owed on this facility.

From October 2015 to March 7, 2016, we issued $4.1 million of promissory notes. The notes were due and payable on the earlier of one year from the date of issuance or the closing date of our initial public offering and consisted of $3.36 million loaned to the company and a 22.5% loan origination fee payable on maturity. Amounts lent bore interest at a fixed amount of 15% of principal loaned, regardless of the time that the loan was outstanding. All principal, interest and fees were payable on the due date. Upon the close of our public offering in July 2016, 90% of the outstanding promissory notes totaling $3,024,000 were converted to common stock and the accrued interest and origination fee were waived as part of the conversion. The remaining, unconverted $336,000 of promissory notes were paid along with the accrued interest and origination fee attributable to those notes.

From March 2016 through June 2016, we issued 2,802,430 shares of Series A Preferred Stock for net proceeds of $2.4 million. The use of the net proceeds of the notes and preferred stock was the funding of inventory purchases and working capital and corporate expenses, including personnel expenses and professional fees and expenses associated with our initial public offering. Upon the close of our public offering in July 2016, the preferred shares were converted to common stock.

On July 13, 2016, we closed an initial public offering and received net proceeds of $8,151,000.

Discussion of Cash Flows

	Nine months ended September 30,
	2016			2015			Change
	(in thousands)
Net cash used in operating activities	$	(6,237	)	$	(42	)	$	(6,195	)
Net cash used in investing activities		—			—			—
Net cash provided by (used in) financing activities		9,088			(1	)		9,089
Net increase (decrease) in cash	$	2,851		$	(43	)	$	2,894

Operating Activities

Net cash used in operating activities in the nine months ended September 30, 2016 was approximately $6.2 million, due primarily to the net loss of $5.0 million. An increase in accounts receivable of $437,000 and inventory of $1.2 million as uses of cash were attributable to one large customer account and the purchase of action cameras for the holiday season. A $633,000 decrease in accounts payable as a use of cash was attributable to bringing our accounts payable aging more current. Certain non-cash items that partially offset these uses of cash include $740,000 amortization of deferred debt issuance costs and debt discount and non-cash stock-based compensation of $943,000. In the nine months ended September 30, 2015, the $5.7 million net loss was offset by both $1.9 million in collections on accounts receivable and a $1.4 million decrease in inventory levels. There were also non-cash charges of $898,000 for debt conversion expense, $283,000 of stock-based compensation and $483,000 for the amortization of debt issuance costs.

Investing Activities

Our current operating structure does not depend upon a significant investment in capital equipment or operating facilities. Substantially all of our manufacturing is conducted offshore by third party manufacturers. Our office and warehouse facilities are leased under a nine-year operating lease. For the nine months ended September 30, 2016 and 2015, we used no cash in investing activities.

Financing Activities

Net cash provided by financing activities for the nine months ended September 30, 2016 was approximately $9.1 million and was primarily attributable to our initial public offering proceeds as well as the bridge loan financing and preferred stock issuances during the first nine months of 2016. Net cash used in financing activities in the nine months ended September 30, 2015 was $43,000. Proceeds from a private placement offering and issuance of convertible debt were offset by the net repayment of approximately $3.8 million of our accounts receivable credit facility.

Debt Instruments

As of September 30, 2016, debt instruments include two convertible notes payable with a total principal amount of $38,000 due in 2015 that remain unpaid.

Operating and Capital Expenditure Requirements

We have not achieved profitability since our inception and we expect to continue to incur net losses for the foreseeable future. We expect our cash expenditures to increase in the near term as we fund our future growth. As a publicly traded company we will incur significant legal, accounting and other expenses that we were not required to incur as a private company. In addition, the Sarbanes-Oxley Act, as well as rules adopted by the Securities and Exchange Commission, or SEC, and the Nasdaq Stock Market, requires public companies to implement specified corporate governance practices that are currently inapplicable to us as a private company. We expect these rules and regulations will increase our legal and financial compliance costs and will make some activities more time-consuming and costly.

Based on our business and development plans and our timing expectations related to the progress of our products, we expect that the net proceeds from the Offering, together with our existing cash as of September 30, 2016, will enable us to fund our operating expenses and capital expenditure requirements through the end of 2016. A significant use of the net proceeds from the public offering has been and will continue to be for funding inventory purchases in order to grow sales in 2016 and beyond. Our future capital requirements will depend on many factors, including: the costs and timing of future product and marketing activities, including product manufacturing, marketing, sales and distribution for any of our products; the expenses needed to attract and retain skilled personnel; and the timing and success of this offering. Until such time, if ever, as we can generate more substantial product revenues, we expect to finance our cash needs through a combination of equity or debt financings.

We may need to raise substantial additional financing in the future to fund our operations. In order to meet these additional cash requirements, we may seek to sell additional equity or convertible securities that may result in dilution to our stockholders. If we raise additional funds through the issuance of convertible securities, these securities could have rights senior to those of our common stock and could contain covenants that restrict our operations. There can be no assurance that we will be able to obtain additional equity or debt financing on terms acceptable to us, if at all. If we raise additional funds through collaboration and licensing agreements with third parties, it may be necessary to relinquish valuable rights to our product candidates, technologies or future revenue streams or to grant licenses on terms that may not be favorable to us.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements, as defined by applicable SEC rules and regulations.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The preparation of financial statements in conformity with U.S. GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting period. On an on-going basis, we evaluate our estimates, which are based upon historical experiences, market trends and financial forecasts and projections, and upon various other assumptions that management believes to be reasonable under the circumstances at that certain point in time. Actual results may differ, significantly at times, from these estimates under different assumptions or conditions.

We believe the following critical accounting policies and estimates affect the significant estimates and judgments we use in the preparation of our consolidated financial statements, and may involve a higher degree of judgment and complexity than others.

Revenue recognition

Net sales (revenue) are recognized when there is persuasive evidence that an arrangement exists, when delivery has occurred, when the price to the buyer is fixed or determinable and when collectability of the receivable is reasonably assured. These elements are met when title to the products is passed to the buyers, which is generally when product is delivered to the customer and the customer has accepted delivery.

Certain customers have limited rights of return and/or are entitled to price adjustments on products held in their inventory. We reduce net sales in the period of sale for estimates of product returns, price adjustments and other allowances. Our reserve estimates are based upon historical data as well as projections of sales, customer inventories, price adjustments, average selling prices and market conditions. Price protection is calculated on a product by product basis. The objective of price protection is to mitigate returns by providing retailers with credits to ensure maximum consumer sales. Price protection is granted to retailers after they have presented the company an affidavit of existing inventory. Actual returns and adjustments could be significantly different from our estimates and provisions, resulting in an adjustment to net sales.

Inventories

Inventory is stated at the lower of cost or market, with cost being determined on the weighted average cost method of accounting. We purchase finished goods and materials to assemble kits in quantities that we anticipate will be fully used in the near term. Changes in operating strategy, customer demand, and fluctuations in market values can limit our ability to effectively utilize all products purchased and can result in finished goods with above-market carrying costs which may cause losses on sales to customers. Our policy is to closely monitor inventory levels, obsolescence and lower market values compared to costs and, when necessary, reduce the carrying amount of inventory to market value. As of September 30, 2016 and December 31, 2015, inventory on hand was comprised primarily of finished goods ready for sale and packaging materials.

Share-based compensation/Warrants valuation

We use the Black-Scholes model to determine the fair value of stock options and stock purchase warrants on the date of grant. The amount of compensation or other expense recognized using the Black-Scholes model requires us to exercise judgment and make assumptions relating to the factors that determine the fair value of our share-based grants. The fair value calculated by this model is a function of several factors, including the grant price, the expected future volatility, the expected term of the option or warrant and the risk-free interest rate correlating to the term of the option or warrant. The expected term is derived using the simplified method provided in Securities and Exchange Commission release Staff Accounting Bulletin No. 110 which averages an award’s weighted average vesting period and contractual term for “plain vanilla” share options. The expected volatility is estimated by analyzing the historic volatility of similar public companies. The risk-free rate of return reflects the weighted average interest rate offered for US treasury rates over the expected life of options or warrants. The expected term and expected future volatility requires our judgment. In addition, we are required to estimate the expected forfeiture rate and only recognize a cost or expense for those stock options or warrants expected to vest.

Estimated Litigation Losses

We are subject to certain legal proceeding and claims arising in connection with the normal course of business and established a reserve for contingent legal liabilities in connection with three cases that had been pending. Based on the range of possible loss as provided by outside legal counsel, we had reserved $465,000 for possible loss related to the three cases. As of September 30, 2016, two cases have been settled and the other case was dismissed without prejudice. Our reserve at September 30, 2016 is $468,000 and, subsequent to September 30, 2016, $225,000 will be charged against the reserve related to the settlement of one case. The reserve represents what we believe to be an estimate of possible loss only for those three matters and does not represent the maximum loss exposure. The assessment as to whether a loss is probable or a reasonable possibility, and whether the loss or a range of loss is estimable, often involves a series of complex judgments about future events and there is, therefore, considerable uncertainty regarding the timing or ultimate resolution of such matters, including possible eventual loss, fine, penalty or business impact, if any. We will continue to evaluate, on a quarterly basis, the adequacy of the loss reserve, and update our disclosure if necessary, based on available information and in accordance with ASC 450-20-50, evaluating developments in legal proceeding, investigation or claims that could affect the amount of any accrual, as well as any developments that would make a loss contingency both probably and reasonably estimable.

Fair value measurements

Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on the assumptions that market participants would use in pricing an asset or liability. Fair value is based on a hierarchy of valuation techniques, which is determined on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. These two types of inputs create a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1:

Quoted prices for identical instruments in active markets.

Level 2:

Level 3:

Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Factors included in the valuation of common stock underlying stock options and warrants include the present value of future cash flows, capital structure, valuation of comparable companies, existing licensing agreements and the growth prospects for our product line.

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

See Note 1 of Notes to Consolidated Financial Statements.

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Pursuant to Item 305(e) of Regulation S-K (§ 229.305(e)), we are not required to provide the information required by this Item as it is a “smaller reporting company,” as defined by Rule 229.10(f)(1).

ITEM 4.

CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

As required by Rules 13a-15(e) and 15d-15(e) under the Exchange Act, we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this Quarterly Report. This evaluation was carried out under the supervision and with the participation of our management.

We maintain a set of disclosure controls and procedures designed to ensure that information required to be disclosed by us in reports filed under the Exchange Act is recorded, process, summarized and reported within the time periods specified by the Securities and Exchange Commission’s rule and forms. Disclosure controls are also designed with the objective of ensuring that this information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriated, to allow timely decision regarding required disclosure.

Based upon their evaluation as of the end of the period covered by this report, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures are not effective to ensure that information required to be included in our periodic Securities and Exchange Commission filing is recorded, processed summarize, and reported within the time periods specified in the Securities and Exchange Commission rules and forms.

Our management has determined that we had a material weakness in our internal control over financial reporting as of September 30, 2016 and December 31, 2015 relating to the design and operation of our closing and financial reporting processes. We have concluded that this material weakness in our internal control over financial reporting is due to the fact that we do not yet have the appropriate resources with the appropriate level of experience and technical expertise to oversee our closing and financial reporting processes.

In order to remediate this material weakness, we have taken the following actions:

•

we have hired a full-time chief financial officer;

•

we have begun to use a third party, independent consultant to review our quarterly close;

•

we have hired and are continuing to actively seek additional accounting and finance staff members to augment our current staff and to improve the effectiveness of our closing and financial reporting processes; and

•

we are formalizing our accounting policies and internal controls documentation and strengthening supervisory reviews by our management.

Notwithstanding the material weakness that existed as of December 31, 2015 and September 30, 2016, our management has concluded that the consolidated financial statements presented in this filing present fairly, in all material respects, our financial position, results of operation and cash flows in conformity with GAAP.

Changes in Internal Control Over Financial Reporting

During the three months ended September 30, 2016, we engaged an independent outside consulting firm to review our quarterly close. Other than that additional control, there were no material changes in our internal control over financial reporting during the three months ended September 30, 2016 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

ITEM 1.

LEGAL PROCEEDINGS.

ITEM 1A.

RISK FACTORS.

Not applicable to a smaller reporting company. See Risk Factors in Form S-1 filed by the Company on July 7, 2016.

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None

ITEM 3.

DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4.

MINE SAFETY DISCLOSURES.

Not Applicable.

ITEM 5.

OTHER INFORMATION.

None

ITEM 6.

EXHIBITS.

Exhibit Number		Description of Exhibit
31.1		Rule 13(a)-14(a)/15(d)-14(a) Certification of principal executive officer
31.2		Rule 13(a)-14(a)/15(d)-14(a) Certification of principal financial and accounting officer
32.1*		Section 1350 Certification of principal executive officer and principal financial and accounting officer
101		XBRL data files of Financial Statements and Notes contained in this Quarterly Report on Form 10-Q.

This exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, whether made before or after the date hereof and irrespective of any general incorporation language in any filings.

MONSTER DIGITAL, INC.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		Monster Digital, Inc.
Date: November 16, 2016

By:	/s/ DAVID OLERT	By	/s/ DAVID H. CLARKE
Name: David Olert			Name: David H. Clarke
Title: Chief Financial Officer (Principal Financial and Accounting Officer)			Title: Chief Executive Officer (Principal Executive Officer and duly authorized officer)

EX-31.1 2 v452764_ex31-1.htm EXHIBIT 31.1

Exhibit 31.1

CERTIFICATION

I, David H. Clarke, certify that:

I have reviewed this report on Form 10-Q of Monster Digital, Inc.;

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ DAVID H. CLARKE
David H. Clarke
Chief Executive Officer (Principal Executive Officer)
November 16, 2016

EX-31.2 3 v452764_ex31-2.htm EXHIBIT 31.2

Exhibit 31.2

CERTIFICATION

I, David Olert, certify that:

I have reviewed this report on Form 10-Q of Monster Digital, Inc.;

any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

/s/ DAVID OLERT
David Olert
Chief Financial Officer (Principal Financial and Accounting Officer)
November 16, 2016

EX-32.1 4 v452764_ex32-1.htm EXHIBIT 32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED

PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the report of Monster Digital, Inc. (the “Company”) on Form 10-Q for the period ended September 30, 2016 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned, in the capacities and on the dates indicated below, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to his knowledge:

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ DAVID H. CLARKE
David H. Clarke
Chief Executive Officer (Principal Executive Officer)
November 16, 2016

/s/ DAVID OLERT
David Olert
Chief Financial Officer (Principal Financial and Accounting Officer)
November 16, 2016

The foregoing certification is being furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and is not filed with the Securities and Exchange Commission as part of the Form 10-Q or as a separate disclosure document and is not incorporated by reference into any filing of Monster Digital, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, irrespective of any general incorporation language contained in such filing. A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-101.INS 5 msdi-20160930.xml XBRL INSTANCE DOCUMENT 0001551986 2015-01-01 2015-09-30 0001551986 2015-01-01 2015-12-31 0001551986 2016-01-01 2016-01-07 0001551986 2016-01-01 2016-03-31 0001551986 2016-01-01 2016-09-30 0001551986 2016-03-07 0001551986 2015-04-15 2015-05-08 0001551986 2016-05-05 2016-06-06 0001551986 2016-06-01 2016-06-23 0001551986 2016-06-14 2016-07-13 0001551986 2013-07-01 2014-06-30 0001551986 2014-07-01 2015-06-30 0001551986 2015-07-01 2015-09-30 0001551986 2016-07-01 2016-09-30 0001551986 2016-07-13 0001551986 2015-07-31 0001551986 2015-08-01 2015-08-28 0001551986 2015-09-30 0001551986 2016-09-30 0001551986 2015-10-07 2016-03-07 0001551986 2016-10-31 0001551986 2015-11-01 2015-11-30 0001551986 2015-11-30 0001551986 2012-12-31 0001551986 2015-12-31 0001551986 2014-12-31 0001551986 us-gaap:CommonStockMember 2015-12-31 0001551986 us-gaap:PreferredStockMember 2015-12-31 0001551986 us-gaap:AdditionalPaidInCapitalMember 2015-12-31 0001551986 us-gaap:RetainedEarningsMember 2015-12-31 0001551986 us-gaap:CommonStockMember 2016-09-30 0001551986 us-gaap:PreferredStockMember 2016-09-30 0001551986 us-gaap:AdditionalPaidInCapitalMember 2016-09-30 0001551986 us-gaap:RetainedEarningsMember 2016-09-30 0001551986 us-gaap:CommonStockMember 2016-01-01 2016-09-30 0001551986 us-gaap:PreferredStockMember 2016-01-01 2016-09-30 0001551986 us-gaap:AdditionalPaidInCapitalMember 2016-01-01 2016-09-30 0001551986 us-gaap:RetainedEarningsMember 2016-01-01 2016-09-30 0001551986 msdi:BayViewFundingMember 2015-06-30 0001551986 msdi:BayViewFundingMember 2015-12-31 0001551986 msdi:BayViewFundingMember 2016-09-30 0001551986 us-gaap:ConvertibleNotesPayableMember 2014-12-31 0001551986 us-gaap:ConvertibleNotesPayableMember 2014-01-01 2014-12-31 0001551986 us-gaap:ConvertibleNotesPayableMember 2015-01-01 2015-09-30 0001551986 us-gaap:ConvertibleNotesPayableMember 2015-01-01 2015-03-31 0001551986 us-gaap:ConvertibleNotesPayableMember 2015-12-31 0001551986 us-gaap:LoansPayableMember 2016-07-01 2016-09-30 0001551986 us-gaap:LoansPayableMember 2016-01-01 2016-09-30 0001551986 us-gaap:TradeNamesMember 2015-01-01 2015-12-31 0001551986 us-gaap:TradeNamesMember 2015-12-01 2016-09-30 0001551986 us-gaap:ChiefExecutiveOfficerMember 2015-08-31 0001551986 us-gaap:ChiefExecutiveOfficerMember 2015-12-31 0001551986 us-gaap:WarrantMember 2016-01-01 2016-09-30 0001551986 msdi:CommonStockPurchaseRightsOfferingMember 2015-04-30 0001551986 msdi:CommonStockPurchaseRightsOfferingMember 2015-09-30 0001551986 msdi:CommonStockPurchaseRightsOfferingMember 2015-04-01 2015-09-30 0001551986 us-gaap:BoardOfDirectorsChairmanMember 2015-08-01 2015-08-31 0001551986 us-gaap:BoardOfDirectorsChairmanMember 2015-01-01 2015-09-30 0001551986 us-gaap:BoardOfDirectorsChairmanMember 2016-07-01 2016-09-30 0001551986 us-gaap:BoardOfDirectorsChairmanMember 2016-01-01 2016-09-30 0001551986 msdi:TrademarkLicenseAgreementMember 2015-08-31 0001551986 msdi:TrademarkLicenseAgreementMember 2015-08-01 2015-08-31 0001551986 msdi:PresidentAndChiefExecutiveOfficerMember 2016-01-01 2016-06-30 0001551986 us-gaap:RestrictedStockMember 2016-09-30 0001551986 us-gaap:RestrictedStockMember 2016-01-01 2016-09-30 0001551986 msdi:OmnibusIncentivePlan2012Member 2016-07-01 2016-09-30 0001551986 msdi:NealBobrickMember 2016-04-01 2016-06-30 0001551986 msdi:DavidOlertMember 2016-01-01 2016-09-30 0001551986 msdi:MarcMatejkaMember 2016-01-01 2016-09-30 0001551986 msdi:VivekTondonMember 2016-01-01 2016-09-30 0001551986 msdi:TandonEnterprisesIncMember 2016-01-01 2016-09-30 0001551986 msdi:TandonEnterprisesIncMember 2016-06-30 0001551986 msdi:TandonEnterprisesIncMember 2016-01-01 2016-06-30 0001551986 msdi:FourVendorsMember us-gaap:SupplierConcentrationRiskMember 2015-01-01 2015-09-30 0001551986 msdi:ThreeVendorsMember us-gaap:SupplierConcentrationRiskMember 2016-01-01 2016-09-30 0001551986 msdi:ThreeVendorsMember 2016-09-30 0001551986 us-gaap:TrademarksMember 2012-01-01 2012-12-31 0001551986 msdi:OtherCommitmentsMember 2016-09-30 0001551986 msdi:MemphisElectronicsIncMember 2015-03-01 2015-03-09 0001551986 msdi:PhisonElectronicsCorpMember 2015-08-01 2015-08-18 0001551986 msdi:UnigenCorporationMember 2015-08-01 2015-08-28 0001551986 us-gaap:IPOMember 2015-01-01 2015-09-30 0001551986 us-gaap:IPOMember 2016-01-01 2016-09-30 0001551986 msdi:BayViewFundingMember 2015-06-01 2015-06-30 0001551986 us-gaap:ConvertibleNotesPayableMember 2016-09-30 0001551986 us-gaap:LoansPayableMember 2016-06-14 2016-07-13 0001551986 us-gaap:LoansPayableMember 2016-07-13 0001551986 us-gaap:TradeNamesMember 2016-01-01 2016-01-31 0001551986 msdi:CommonStockSharesMember 2016-01-01 2016-09-30 0001551986 msdi:OfferingCommonStockMember 2016-01-01 2016-09-30 0001551986 msdi:PreferredStockAndBridgeLoanMember 2016-01-01 2016-09-30 0001551986 msdi:OtherWarrantsMember 2016-01-01 2016-09-30 0001551986 us-gaap:ConvertibleDebtSecuritiesMember 2016-01-01 2016-09-30 0001551986 us-gaap:WarrantMember 2016-09-30 0001551986 us-gaap:ChiefExecutiveOfficerMember 2016-09-30 0001551986 us-gaap:BoardOfDirectorsChairmanMember 2015-07-01 2015-09-30 0001551986 us-gaap:RestrictedStockMember 2016-08-31 0001551986 us-gaap:RestrictedStockMember 2016-07-01 2016-09-30 0001551986 us-gaap:RestrictedStockMember msdi:ServiceAgreementMember 2016-08-31 0001551986 us-gaap:RestrictedStockMember msdi:ServiceAgreementMember 2016-07-01 2016-09-30 0001551986 us-gaap:RestrictedStockMember msdi:JawaharTandonMember 2016-09-30 0001551986 us-gaap:RestrictedStockMember msdi:JawaharTandonMember 2016-07-01 2016-09-30 0001551986 us-gaap:SeriesAPreferredStockMember 2016-03-31 0001551986 us-gaap:SeriesAPreferredStockMember 2016-06-01 2016-06-30 0001551986 us-gaap:SeriesAPreferredStockMember 2016-07-13 0001551986 us-gaap:ChiefExecutiveOfficerMember 2015-08-01 2015-08-31 0001551986 us-gaap:MinimumMember 2015-01-01 2015-12-31 0001551986 us-gaap:MaximumMember 2015-01-01 2015-12-31 0001551986 us-gaap:MinimumMember 2016-01-01 2016-09-30 0001551986 us-gaap:MaximumMember 2016-01-01 2016-09-30 0001551986 msdi:ExcercisePriceOneMember 2016-01-01 2016-09-30 0001551986 msdi:ExcercisePriceTwoMember 2016-01-01 2016-09-30 0001551986 msdi:ExcercisePriceThreeMember 2016-01-01 2016-09-30 0001551986 msdi:ExcercisePriceFourMember 2016-01-01 2016-09-30 0001551986 msdi:ExcercisePriceFiveMember 2016-01-01 2016-09-30 0001551986 msdi:ExcercisePriceSixMember 2016-01-01 2016-09-30 0001551986 us-gaap:RestrictedStockMember msdi:OmnibusIncentivePlan2012Member us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2016-09-30 0001551986 us-gaap:RestrictedStockMember msdi:OmnibusIncentivePlan2012Member us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2016-01-01 2016-09-30 0001551986 msdi:NealBobrickMember us-gaap:RestrictedStockMember msdi:OmnibusIncentivePlan2012Member 2016-01-01 2016-09-30 0001551986 msdi:OmnibusIncentivePlan2012Member us-gaap:RestrictedStockMember us-gaap:DirectorMember 2016-01-01 2016-09-30 0001551986 us-gaap:EmployeeStockOptionMember msdi:OmnibusIncentivePlan2012Member 2016-07-01 2016-09-30 0001551986 us-gaap:EmployeeStockOptionMember msdi:OmnibusIncentivePlan2012Member 2016-09-30 0001551986 msdi:NealBobrickMember 2016-01-01 2016-09-30 0001551986 us-gaap:EmployeeStockOptionMember us-gaap:InvestorMember msdi:OmnibusIncentivePlan2012Member 2016-08-01 2016-08-31 0001551986 us-gaap:EmployeeStockOptionMember us-gaap:InvestorMember msdi:OmnibusIncentivePlan2012Member 2016-08-31 0001551986 msdi:PresidentAndChiefExecutiveOfficerMember 2015-09-01 2015-09-30 0001551986 msdi:PresidentAndChiefExecutiveOfficerMember 2015-09-30 0001551986 us-gaap:StateAndLocalJurisdictionMember 2015-01-01 2015-09-30 0001551986 us-gaap:StateAndLocalJurisdictionMember 2016-01-01 2016-09-30 0001551986 msdi:CustomerThreeMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-09-30 0001551986 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueNetMember 2015-01-01 2015-09-30 0001551986 msdi:CustomerOneMember us-gaap:SalesRevenueNetMember 2016-01-01 2016-09-30 0001551986 msdi:CustomerOneMember 2016-09-30 0001551986 msdi:UnigenCorporationMember us-gaap:SubsequentEventMember 2016-10-01 2016-10-26 0001551986 us-gaap:TradeNamesMember 2015-12-01 2015-12-31 0001551986 us-gaap:CommonStockMember 2016-06-14 2016-07-13 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure 10-Q false 2016-09-30 2016 Q3 Monster Digital, Inc. 0001551986 --12-31 Smaller Reporting Company MSDI 7339050

119000

2970000

644000

928000

633000

1789000

141000

440000

1537000

6127000

2548000

2450000

619000

14000

4718000

8591000

215000

1021000

388000

3311000

3275000

1850000

1840000

510000

3505000

38000

10412000

5541000

20181000

33880000

-25875000

-30830000

-5694000

3050000

4718000

8591000

3577000

687000

6034000

2430000

532000

92000

793000

569000

98000

54000

288000

168000

505000

550000

1563000

1777000

1321000

1852000

3083000

3322000

1924000

2456000

4934000

5267000

-1392000

-2364000

-4141000

-4698000

75000

25000

705000

812000

898000

-75000 532000 -1603000 -255000

-1467000

-1832000

-5744000

-4953000

1000

2000

1000

2000

-1468000

-1834000

-5745000

-4955000

0.45

0.27

1.82

1.05

3286

6909

3156

4721

20181000

-25875000

3702865

33880000

-30830000

7339050

943000

-4955000

0 2802430 0 0 2393000 0

943000

2393000

283000

943000

483000

740000

21000

98000

160000

153000

-1942000

437000

-1406000

1156000

141000

299000

-28000

-202000

-633000

-959000

-124000

-59000

-42000

-6237000

2393000

2969000

-51000

406000

6969000

581000

10782000

785000

450000

337000

57000

-1000

9088000

97000

54000

221000

55000

218000

2272000

-414000 0 1645000 0

9132750

2025000

4.50

2025000 0.01

99000

252000

175000

24000

269000

234000

217000

96602

31000000

4000000

215000

22.27 14.85

336682

3428000

5870000

1645000

898000

158265

38000

25000

389000

756000

0.15

3000000

500000

125000

38000

450000

1108000

1909000

3505000

38000

103000

125000

336000

112000

563000 139000

995000

1231000

891000 218000 123000 982000 99681 191289

156000

325093

P5Y

0.0160

0.454

108138

44.55

78800

236403

2969000

84170

110000

68000

205000

5.49

2103000

101005

269345

370350

60940

71040

13467

194000

P27M

21000

33668

16834

18000

4.50

71040

5.79

0.0189

0.454

197000

P45M

124645

134745

29.71

5.81

7.60

24000

346100

76911

0.4

0.69

0.95

21000

P25Y

2035-07-07 0.04 0.02

44000

125000

112000

246000

13850 2018-01-31

835000

445000

275000

170000

585000

678669 35000

180000

219200

99000

252000

54000

152000

10000000

0.0001

100000000

3702865

7339050

4109000

779000

6827000

2999000

0 557000 0 557000

756806

-2802430

3520000

782244

2025000 0 6843000 0 0 6843000 0

72135

1843000

-10000

8151000

689000

462000

-43000

2851000

0 619000

3520000

335000 0

2103000

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="center"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <b><font style="FONT-SIZE: 10pt">NOTE 1  BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <b><font style="FONT-SIZE: 10pt"> </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Organization</font></u><font style="FONT-SIZE: 10pt">:  Monster Digital, Inc. (“MDI”), a Delaware corporation (formed in November 2010), and its subsidiary, SDJ Technologies, Inc. (“SDJ”) (collectively referred to as the “Company”), is an importer of high-end memory storage products, flash memory and action sports cameras marketed and sold under the Monster Digital brand name acquired under a long-term licensing agreement with Monster, Inc. The Company sources its products from China, Taiwan and Hong Kong.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><u>Public Offering</u>: The Company closed its initial public offering (the “Offering”) on July 13, 2016 and its common stock and warrants are listed on the Nasdaq Capital Market under the symbols “MSDI” and “MSDIW”, respectively. The Offering generated gross proceeds of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9,132,750</font> on the sale of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,025,000</font> common shares at $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4.50</font> per share and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,025,000</font> warrants at $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font> per warrant.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Basis of Presentation</font></u><font style="FONT-SIZE: 10pt">:  The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the SEC’s instructions for interim financial information. They do not include all information and footnotes necessary for a fair presentation of financial position, operating results and cash flows in conformity with U.S. GAAP for complete financial statements. These consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes for the year ended December 31, 2015 which are included in Form S-1 filed by the Company that was declared effective on July 7, 2016. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the operating results for the periods presented have been included in the interim periods. Operating results for the three and nine months ended September 30, 2016 are not necessarily indicative of the results that may be expected for other interim periods or the year ending December 31, 2016. For interim financial reporting purposes, income taxes are recorded based upon estimated annual effective income tax rates taking into consideration discrete items occurring in a quarter. The consolidated balance sheet as of December 31, 2015 is derived from the 2015 audited financial statements.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Principles of Consolidation</font></u><font style="FONT-SIZE: 10pt">:  The consolidated financial statements include the accounts of MDI and SDJ. All significant intercompany transactions have been eliminated in consolidation.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Use of Estimates</font></u><font style="FONT-SIZE: 10pt">:  The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities (including sales returns, price protection allowances, bad debts, inventory reserves, warranty reserves, and asset impairments), disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Concentration of Cash</font></u><font style="FONT-SIZE: 10pt">:  The Company maintains its cash in bank accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts. Management believes the Company is not exposed to any significant credit risk on its cash balances.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><u>Accounts Receivable</u>:  Accounts receivable are carried at original invoice amount less allowance for doubtful accounts. Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts. Accounts receivable are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received. Accounts receivable are considered to be past due if any portion of the receivable balance is outstanding for more than 90 days past the customer’s granted terms. The Company does not charge interest on past due balances or require collateral on its accounts receivable. As of December 31, 2015 and September 30, 2016, the allowance for doubtful accounts was approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">99,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">252,000</font>, respectively.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt">   </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Inventories</font></u><font style="FONT-SIZE: 10pt">:  Inventories are stated at the lower of cost or market, with cost being determined on the weighted average cost method of accounting. The Company purchases finished goods and materials to assemble kits in quantities that it anticipates will be fully used in the near term. Changes in operating strategy, customer demand, and fluctuations in market values can limit the Company’s ability to effectively utilize all products purchased and can result in finished goods with above-market carrying costs which may cause losses on sales to customers. The Company’s policy is to closely monitor inventory levels, obsolescence and lower market values compared to costs and, when necessary, reduce the carrying amount of its inventory to its market value. As of December 31, 2015 and September 30, 2016, inventory on hand was comprised primarily of finished goods ready for sale and packaging and supplies.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Fair Value of Financial Instruments</font></u><font style="FONT-SIZE: 10pt">:  Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on the assumptions that market participants would use in pricing an asset or liability. Fair value is based on a hierarchy of valuation techniques, which is determined on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s own market assumptions. These two types of inputs create a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Level 1:</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Quoted prices for identical instruments in active markets.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Level 2:</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.5in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="48"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Level 3:</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The carrying amount for other financial instruments, which include cash, accounts receivable, accounts payable, and line of credit, approximate fair value based upon their short term nature and maturity.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Revenue Recognition</font></u><font style="FONT-SIZE: 10pt">:  Revenue is realized or realizable and earned when all of the following criteria are met: (1) persuasive evidence of an arrangement exists, (2) the sales price is fixed or determinable, (3) collectability is reasonably assured, and (4) products have been shipped and the customer has taken ownership and assumed the risk of loss. Distributors and retailers take full ownership of their product upon delivery and sales are fully recognized at that time.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Revenue is reduced by reserves for price protection, sales returns, allowances and rebates. Our reserve estimates are based upon historical data as well as projections of sales, customer inventories, market conditions and current contractual sales terms. If the Company reduces the list price of its products, certain customers may receive a credit from the Company (i.e. price protection). The Company estimates the impact of such pricing changes on a regular basis and adjusts its allowances accordingly. Amounts charged to operations for price protection are calculated based on actual price changes on individual products and customer inventory levels. The reserve is then reduced by actual credits given to these customers at the time the credits are issued. We calculate the allowance for doubtful accounts and provision for sales returns and rebates based on management’s estimate of the amount expected to be uncollectible or returned on specific accounts. We provide for future returns, price protection and rebates at the time the products are sold. We calculate an estimate of future returns of product by analyzing units shipped, units returned and point of sale data to ascertain consumer purchases and inventory remaining with retail to establish anticipated returns. Price protection is calculated on a product by product basis. The objective of price protection is to mitigate returns by providing retailers with credits to ensure maximum consumer sales. Price protection is granted to retailers after they have presented the Company an affidavit of existing inventory.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company also offers market development credits (“MDF credits”) to certain of its customers. These credits are also charged against revenue.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><u>Shipping and Handling Costs</u>:  Historically, the Company has not charged its customers for shipping and handling costs, which is a component of marketing and selling expenses. These costs totaled approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">175,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">24,000</font> in the three months ended September 30, 2015 and 2016, respectively, and approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">269,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">118,000</font> in the nine months ended September 30, 2015 and 2016. respectively.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>Income Taxes</font></u><font style="FONT-SIZE: 10pt">:  Deferred tax assets and liabilities are determined based on the temporary differences between the financial reporting and tax basis of assets and liabilities and net operating loss carryforwards, applying enacted statutory tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is recorded when it is more likely than not that some or all of the deferred tax assets will not be realized.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company uses a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more likely than not to be realized upon settlement. As of December 31, 2015 and September 30, 2016, there are no known uncertain tax positions.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company’s policy is to classify the liability for unrecognized tax benefits as current to the extent that it is more likely than not to be realized upon settlement and to the extent that the Company anticipates payment (or receipt) of cash within one year. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in the tax provision.</font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><u>Product Warranty</u>:  The Company’s memory products are sold under various limited warranty arrangements ranging from three years to five years on solid state drives and a limited lifetime warranty on all other products. Company policy is to establish reserves for estimated product warranty costs in the period when the related revenue is recognized. The Company has the right to return defective products to the manufacturer. As of December 31, 2015 and September 30, 2016, the Company has established a warranty reserve of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">234,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">217,000</font>, respectively. The warranty reserve is included in accrued expenses in the accompanying consolidated balance sheets.</font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Research and Development</font></u><font style="FONT-SIZE: 10pt">:  The Company incurs costs to improve the appeal and functionality of its products. Research and development costs are charged to expense when incurred.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><u>Earnings (Loss) per Share</u>:  Basic earnings (loss) per share is calculated by dividing net earnings (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated similarly but includes potential dilution from the exercise of common stock warrants and options and conversion of debt to equity, except when the effect would be anti-dilutive. Earnings (loss) per share are computed using the “treasury stock method.” At September 30, 2016, outstanding warrants to acquire <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,755,100</font> shares of common stock (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,025,000</font> issued further to the Offering, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,405,007</font> issued in connection with the conversion of preferred stock and bridge loans upon closing of the Offering and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 325,093</font> other warrants), <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 96,602</font> stock options, and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">38,000</font> in convertible notes payable have been excluded from the computation of diluted loss per share because their effect was anti-dilutive.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Recently Issued Accounting Pronouncements</font></u><font style="FONT-SIZE: 10pt">  In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, <i> Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</i>. Under ASU 2014-08, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations, which could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity. ASU 2014-08 also expands the disclosure requirements for disposals of operations to include more information about assets, liabilities, income and expenses and requires entities to disclose information about disposals of individually significant components. ASU 2014-08 is effective in the first quarter of 2015, with early adoption permitted. ASU 2014-08 could impact our consolidated financial results in the event of a transaction as described above.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In May 2014, the FASB issued ASU No. 2014-09, <i>Revenue from Contracts with Customers (Topic 606).</i> ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective in the first quarter of 2018 and requires either a retrospective or a modified retrospective approach to adoption. We have not yet selected a transition method and are currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In August 2014, the FASB issued ASU No. 2014-15, <i>Presentation of Financial Statements  Going Concern</i>, which requires that management of an entity evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or available to be issued. This update will become effective beginning December 31, 2016, with early adoption permitted. The provisions of this standard are not expected to significantly impact the Company.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In April 2015, the FASB issued ASU 2015-03, <i>Interest  Imputation of Interest</i>, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015 and was adopted as of January 1, 2016. The adoption of ASU 2015-03 did not have a material impact on the Company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In July 2015, the FASB issued ASU 2015-11, <i>Inventory (Topic 330): Simplifying the Measurement of Inventory</i>. The standard requires entities to measure most inventory “at the lower of cost and net realizable value,” thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market (market in this context is defined as one of three different measures, one of which is net realizable value). The standard is effective for the Company prospectively beginning January 1, 2017. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In February 2016, the FASB issued ASU No. 2016-02, <i>Leases (Topic 842)</i>, which requires lessees to recognize assets and liabilities for the rights and obligations created by most leases on their balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. ASU 2016-02 requires modified retrospective adoption for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact the standard may have on its consolidated financial statements and related disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <u><font style="FONT-SIZE: 10pt"></font></u> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><u><font style="FONT-SIZE: 10pt"><u>Public Offering</u>: The Company closed its initial public offering (the “Offering”) on July 13, 2016 and its common stock and warrants are listed on the Nasdaq Capital Market under the symbols “MSDI” and “MSDIW”, respectively. The Offering generated gross proceeds of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9,132,750</font> on the sale of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,025,000</font> common shares at $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4.50</font> per share and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,025,000</font> warrants at $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.01</font> per warrant.</font></u></u></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <u><font style="FONT-SIZE: 10pt"></font></u> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><u><font style="FONT-SIZE: 10pt"><u>Accounts Receivable</u>:  Accounts receivable are carried at original invoice amount less allowance for doubtful accounts. Management determines the allowance for doubtful accounts by identifying troubled accounts and by using historical experience applied to an aging of accounts. Accounts receivable are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received. Accounts receivable are considered to be past due if any portion of the receivable balance is outstanding for more than 90 days past the customer’s granted terms. The Company does not charge interest on past due balances or require collateral on its accounts receivable. As of December 31, 2015 and September 30, 2016, the allowance for doubtful accounts was approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">99,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">252,000</font>, respectively.</font></u></u></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <u><font style="FONT-SIZE: 10pt"></font></u> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><u><font style="FONT-SIZE: 10pt"><u>Shipping and Handling Costs</u>:  Historically, the Company has not charged its customers for shipping and handling costs, which is a component of marketing and selling expenses. These costs totaled approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">175,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">24,000</font> in the three months ended September 30, 2015 and 2016, respectively, and approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">269,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">118,000</font> in the nine months ended September 30, 2015 and 2016. respectively.</font></u></u></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <u><font style="FONT-SIZE: 10pt"></font></u> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><u><font style="FONT-SIZE: 10pt"><u>Product Warranty</u>:  The Company’s memory products are sold under various limited warranty arrangements ranging from three years to five years on solid state drives and a limited lifetime warranty on all other products. Company policy is to establish reserves for estimated product warranty costs in the period when the related revenue is recognized. The Company has the right to return defective products to the manufacturer. As of December 31, 2015 and September 30, 2016, the Company has established a warranty reserve of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">234,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">217,000</font>, respectively. The warranty reserve is included in accrued expenses in the accompanying consolidated balance sheets.</font></u></u></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <u><u><u>Earnings (Loss) per Share</u>:  Basic earnings (loss) per share is calculated by dividing net earnings (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is calculated similarly but includes potential dilution from the exercise of common stock warrants and options and conversion of debt to equity, except when the effect would be anti-dilutive. Earnings (loss) per share are computed using the “treasury stock method.” At September 30, 2016, outstanding warrants to acquire <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,755,100</font> shares of common stock (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,025,000</font> issued further to the Offering, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 1,405,007</font> issued in connection with the conversion of preferred stock and bridge loans upon closing of the Offering and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 325,093</font> other warrants), <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 96,602</font> stock options, and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">38,000</font> in convertible notes payable have been excluded from the computation of diluted loss per share because their effect was anti-dilutive.</u></u></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Recently Issued Accounting Pronouncements</font></u><font style="FONT-SIZE: 10pt">  In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, <i>Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity</i>. Under ASU 2014-08, only disposals that represent a strategic shift that has (or will have) a major effect on the entity’s results and operations would qualify as discontinued operations, which could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity. ASU 2014-08 also expands the disclosure requirements for disposals of operations to include more information about assets, liabilities, income and expenses and requires entities to disclose information about disposals of individually significant components. ASU 2014-08 is effective in the first quarter of 2015, with early adoption permitted. ASU 2014-08 could impact our consolidated financial results in the event of a transaction as described above.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In May 2014, the FASB issued ASU No. 2014-09, <i>Revenue from Contracts with Customers (Topic 606).</i> ASU 2014-09 is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective in the first quarter of 2018 and requires either a retrospective or a modified retrospective approach to adoption. We have not yet selected a transition method and are currently evaluating the effect that the updated standard will have on our consolidated financial statements and related disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In August 2014, the FASB issued ASU No. 2014-15, <i>Presentation of Financial Statements  Going Concern</i>, which requires that management of an entity evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued or available to be issued. This update will become effective beginning December 31, 2016, with early adoption permitted. The provisions of this standard are not expected to significantly impact the Company.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In April 2015, the FASB issued ASU 2015-03, <i>Interest  Imputation of Interest</i>, which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The update requires retrospective application and represents a change in accounting principle. The update is effective for fiscal years beginning after December 15, 2015 and was adopted as of January 1, 2016. The adoption of ASU 2015-03 did not have a material impact on the Company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In July 2015, the FASB issued ASU 2015-11, <i>Inventory (Topic 330): Simplifying the Measurement of Inventory</i>. The standard requires entities to measure most inventory “at the lower of cost and net realizable value,” thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market (market in this context is defined as one of three different measures, one of which is net realizable value). The standard is effective for the Company prospectively beginning January 1, 2017. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In February 2016, the FASB issued ASU No. 2016-02, <i>Leases (Topic 842)</i>, which requires lessees to recognize assets and liabilities for the rights and obligations created by most leases on their balance sheet. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application is permitted. ASU 2016-02 requires modified retrospective adoption for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact the standard may have on its consolidated financial statements and related disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Other pronouncements issued by the FASB or other authoritative accounting standards groups with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

118000

5000000

factoring fee of 1.35% for the first 30 days and .45% for each 10-day period thereafter that the financed receivable remains outstanding.

0.07

0.13

38000

0.9

3024000

672000

4.50

0.15 0.225

336000

75000

563000

483000

3755100

2025000

1405007

325093

38000

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <strong><font style="FONT-SIZE: 10pt">NOTE 4  ACCRUED EXPENSES</font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Accrued expenses consist of the following (in thousands):</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 60%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>December 31,</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>September 30,</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>2015</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>2016</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Royalties</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>103</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>125</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Market development credits</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>336</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>112</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Price protection</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>563</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>139</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Return reserves</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>891</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>218</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Reserve for legal contingencies</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>300</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>468</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Accrued purchase orders</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>123</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>982</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Others</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>995</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>1,231</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 10px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="35%"> <div>Total</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>3,311</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>3,275</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> </div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

300000

468000

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <strong><font style="FONT-SIZE: 10pt">NOTE 5  STOCKHOLDERS’ EQUITY</font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <strong><font style="FONT-SIZE: 10pt"> </font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u>Common Stock Purchase Warrants</u>:  From 2011 through June 30, 2015, the Company issued common stock purchase warrants in connection with the initial formation of the Company, the execution of a license agreement, and the issuance of convertible notes payable. All warrants have been valued on the date of their issuance using the Black-Scholes option pricing model using various assumptions regarding stock price volatility, risk-free interest rates, expected dividend rates, and expected term of the contract. Through September 30, 2016, none of the warrants have been exercised, and for the year ended December 31, 2015 and nine months ended September 30, 2016, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 99,681</font></font> warrants have been canceled in connection with the exchange offer described above (see Note 3).</font></div>  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">In August 2015, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 191,289</font> common stock purchase warrants in connection with an Advisory Board Agreement with Noel Lee, the Chief Executive Officer of Monster, Inc., and recognized a $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">156,000</font> charge related to the issuance. As of December 31, 2015 and September 30, 2016, warrants to purchase <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 325,093</font></font> shares of common stock are outstanding. Unexercised warrants will expire from <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2016 to 2019</font></font>.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company utilizes the Black-Scholes valuation method to value warrants. The expected life represents the period that these warrants are expected to be outstanding. The expected volatility was estimated by analyzing the historic volatility of similar public companies. No dividend payouts were assumed as the Company has not historically paid, and is not anticipating to pay, dividends in the foreseeable future. The risk-free rate of return reflects the interest rate offered for US treasury rates over the expected life of the warrants.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>A summary of significant assumptions used to estimate the fair value of the warrants issued in August 2015 are as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN: 0in; WIDTH: 50%; BORDER-COLLAPSE: collapse; OVERFLOW: visible; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Fair value of warrants issued</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>.89</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Expected term (years)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>5.0</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Risk-free interest rate</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>1.60</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Volatility</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>45.4</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Dividend yield</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> </table> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u> Common Stock Purchase Rights Offering</u>:  In April 2015, the Company initiated a common stock purchase rights offering to its existing shareholders. The offering consists of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 108,138</font> Units, with each Unit consisting of 2 newly issued shares of common stock and 3 shares of common stock owned by the Company’s principal shareholder and chairman. Each Unit is offered for $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">44.55</font>, with all proceeds going to the Company. In April 2015 through September 2015, the Company closed on the sale of approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 78,800</font> Units (representing <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 236,403</font> newly issued common shares) and has received net proceeds of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,969,000</font></font>.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u> Reverse Stock Splits</u>: By action by written consent of the Company’s stockholders effective as of November 6, 2015, the Company’s stockholders approved a reverse stock split in a range of between one-for-five and one-for-twelve, such exact amount to be determined by the Company’s Board of Directors prior to the effective date of a planned equity offering. On January 7, 2016, the Board of Directors of the Company approved a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>one-for-11.138103 reverse</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">stock split<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>. On June 6, 2016, the Board of Directors of the Company approved an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>one-for-1.2578616 <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>reverse stock split<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>. On June 23, 2016, the Board of Directors of the Company approved an additional <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>one-for-1.06 <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>reverse stock split. All share and per share information in these consolidated financial statements, except for par value and authorized shares, have been amended to reflect the reverse stock splits.</font></div>  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u> Restricted Shares</u>:  In August 2015, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 84,170</font> shares of restricted common stock to the Company’s Chairman of the Board pursuant to a consulting agreement. The consulting agreement was effective in May 2015 and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">69,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">110,000</font> of compensation expense was recognized in the three and nine months ended September 30, 2015, respectively. Also related to the stock issuance, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">68,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">205,000</font> of compensation expense was recognized in the three and nine months ended September 30, 2016, respectively.</font></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">  </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"> </font><font style="FONT-SIZE: 10pt">In August 2015, the Company issued <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 382,575</font> shares of restricted common stock in connection to the Trademark License Agreement with Monster, Inc. <font style="FONT-SIZE: 10pt">The fair value of the 382,575 shares approximating $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,103,000</font> were recorded as part of the Trademark in August 2015. In regards to the valuation of the Company’s common stock, the Board of Directors engaged an independent third party valuation of the Company. Factors included in the valuation included the Company’s present value of future cash flows, its capital structure, valuation of comparable companies, its existing licensing agreements and the growth prospects for its product line. These factors were incorporated into an income approach and a market approach in order to derive an overall valuation of the Company’s common stock of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">5.49</font> per share at August 2015.</font></font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"></font></font></font><font style="FONT-SIZE: 10pt"> </font></div> </div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In August 2016, the Company authorized the issuance of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 545,000</font> shares of restricted common stock pursuant to employment agreements and recognized $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">66,000</font> of compensation expense during the three months ended September 30, 2016 related to the restricted shares. Also in August 2016, the Company authorized the issuance of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 40,000</font> shares of restricted common stock pursuant to a services agreement with an investment relations firm and recognized $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">16,000</font> of compensation expense related to restricted shares during the three months ended September 30, 2016. In addition, the Company authorized the issuance of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 125,000</font> shares of restricted common stock to Jawahar Tandon pursuant to a consulting agreement and recognized $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">563,000</font> of compensation expense related to the restricted shares during the three months ended September 30, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><u> Preferred Stock</u>: In March 2016, the Company issued a confidential Private Placement Memorandum (“PPM”) for a maximum of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3,000,000</font> shares of Series A Convertible Preferred Stock, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>with a purchase price of $1.00 per share and convertible into one share of the Company’s common stock and having an 8%, noncumulative dividend.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> Pursuant to the PPM, as of June 30, 2016, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,802,430</font> shares of Series A Preferred Stock were subscribed for net proceeds of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2.4</font> million. In July 2016, the Company completed the Offering in which all shares of Series A Preferred Stock was converted into <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 622,762</font> shares of common stock and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 622,762</font> warrants at the public offering price of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4.50</font> per share and the issuance of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">134,044</font></font> shares of common stock further to the conversion.</font></div> </div> </div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

0.89

99681

325093

69000

one-for-11.138103 reverse stock split

one-for-1.2578616 reverse stock split

one-for-1.06

382575

545000

66000

40000

16000

125000

563000

with a purchase price of $1.00 per share and convertible into one share of the Companys common stock and having an 8%, noncumulative dividend.

622762

3000000

2802430

2400000

622762

4.50

2016 to 2019

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <strong><font style="FONT-SIZE: 10pt">NOTE 6  STOCK OPTIONS</font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <strong><font style="FONT-SIZE: 10pt"> </font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In 2012, the Company’s Board of Directors approved the 2012 Omnibus Incentive Plan (the “Plan”) which allows for the granting of stock options, stock appreciation rights, awards of restricted stock and restricted stock Units, stock bonuses and other cash and stock-based performance awards. A total of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 101,005</font> shares of common stock have been approved and reserved for issuance under the Plan. In November 2015, the Company’s stockholders approved a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 269,345</font> share increase in that number of shares reserved for issuance under the Plan such that a total of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 370,350</font> shares of common stock have been approved and reserved for issuance under the Plan. As of December 31, 2015 and September 30, 2016, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 71,040</font> options had been granted under the Plan. During the nine months ended September 30, 2016, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 60,940</font> options were forfeited for employees who were no longer with the Company and were returned to the pool of available options.</font></div> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">On December 23, 2015, the Company authorized restricted stock grants under its 2012 Omnibus Incentive Plan of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 13,467</font> shares to David Clarke in connection with his appointment as the Company’s President and Chief Executive Officer and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 33,668</font> shares to Neal Bobrick in connection with his appointment as the Company’s Executive Vice President, Sales and Marketing, grants accepted and effective January 4, 2016. The Company recorded non-cash stock-based compensation of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">21,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">65,000</font> during the three and nine months ended September 30, 2016, respectively, related to the issuance of restricted stock. An additional $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">194,000</font> of stock-based compensation remains to be recognized over <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 27</font> months.</font></div> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">On the effective date of the Offering, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 25,000</font></font></font> shares of restricted stock were granted to each of David Olert, the Company’s Chief Financial Officer, Vivek Tandon, the Company’s Executive Vice President - Operations and Marc Matejka, the Company’s Vice President of Operations as well as <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 36,332</font> restricted shares to Neal Bobrick, its Executive Vice President  Sales and Marketing. Concurrently, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10,000</font> shares of restricted stock were granted to each of the Company’s four outside directors. The Company recorded non-cash stock-based compensation of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">80,000</font> during the three months ended September 30, 2016 related to these issuances of restricted stock. An additional $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">601,000</font> of stock-based compensation remains to be recognized over <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 45</font> months.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Also granted on the effective date of the Offering were previously approved options to acquire <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 16,834</font> and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 33,668</font> common shares at an exercise price per share of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4.50</font></font> to David Olert and Neal Bobrick, respectively. Options to purchase <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 18,000</font></font> common shares at an exercise price per share of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4.50</font></font> were granted each to Vivek Tandon and Marc Matejka. The Company recorded non-cash stock-based compensation of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">12,000</font> during the three months ended September 30, 2016 related to these issuances of common stock options. An additional $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">164,000</font> of stock-based compensation remains to be recognized over <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 45</font> months.</font></div> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In August 2016, pursuant to a services agreement, the Company granted options to acquire <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 38,143</font> shares of common stock to an investor relations firm and recognized $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,000</font> of non-cash stock-based compensation related to the issuance during the three months ended September 30, 2016. An additional $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">32,000</font> of stock-based compensation remains to be recognized over <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 9</font> months.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company follows the provision of ASC Topic 718, <i>Compensations  Stock Compensation</i> which requires the measurement and recognition of compensation expense for all stock-based payment awards made to employees and non-employee directors, including employee stock options. Stock compensation expense based on the grant date fair value estimated in accordance with the provisions of ASC 718 is generally recognized as an expense over the requisite service period.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>In 2015 and 2016, the following stock option grants were made:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 50%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Estimated</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Fair</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Value of</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Options</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Exercise</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Underlying</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div>Intrinsic</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div>Option Date</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Granted</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Price</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Stock</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div>Value</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>May 2015</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>71,040</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>29.71</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>5.79</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>July 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>86,502</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>4.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>4.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>6,004</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>5.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>7,230</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>7.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>9,986</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>9.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>14,923</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>11.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">The Company’s Board of Directors granted options for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 71,040</font> shares of common stock to certain employees on May 8, 2015. The option prices were determined based on such factors as recent equity transactions and other factors as deemed necessary and relevant in the circumstances. The exercise prices for options granted were set by the Company’s Board of Directors at a premium over fair market value of its common stock at the time the grants were authorized.</font></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In regards to the valuation of the Company’s common stock prior to the Offering, the Board of Directors engaged an independent third party valuation of the Company. Factors included in the valuation included the Company’s present value of future cash flows, its capital structure, valuation of comparable companies, its existing licensing agreements and the growth prospects for its product line. These factors were incorporated into an income approach and a market approach in order to derive an overall valuation of the Company’s common stock of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">5.79</font> per share at May 8, 2015.</font></div> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company utilizes the Black-Scholes valuation method to value stock options and recognizes compensation expense over the vesting period. The expected life represents the period that the Company’s stock-based compensation awards are expected to be outstanding. The Company uses a simplified method provided in Securities and Exchange Commission release Staff Accounting Bulletin No. 110 which averages an awards weighted average vesting period and contractual term for “plain vanilla” share options. The expected volatility was estimated by analyzing the historic volatility of similar public companies. No dividend payouts were assumed as the Company has not historically paid, and is not anticipating to pay, dividends in the foreseeable future. The risk-free rate of return reflects the weighted average interest rate offered for U.S. treasury rates over the expected life of the options.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>A summary of significant assumptions used to estimate the fair value of the stock options granted in 2015 are as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="WIDTH: 50%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Weighted average fair value of options granted</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>0.45</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Expected term (years)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>6.0 to 6.25</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Risk-free interest rate</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>1.89</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Volatility</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>45.4</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Dividend yield</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> </table> </div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">A summary of significant assumptions used to estimate the fair value of the stock options granted in 2016 are as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="WIDTH: 50%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Weighted average fair value of options granted</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>1.70</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Expected term (years)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>6.0 to 10.0</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Risk-free interest rate</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>1.21% to 1.51%</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Volatility</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>45.4</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div>%</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="36%"> <div>Dividend yield</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="2%"> <div> </div> </td> </tr> </table> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company recorded non-cash stock-based compensation related to stock options of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">28,000</font> during the nine months ended September 30, 2016. An additional $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">197,000</font> of stock-based compensation related to stock options remains to be amortized over <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">45</font> months.</font></div> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>A summary of option activity for the Plan as of September 30, 2016 and changes for the nine months then ended are represented as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="BORDER-BOTTOM: #9eb6ce 0px solid; BORDER-LEFT: #9eb6ce 0px solid; MARGIN: 0in; WIDTH: 71.8%; BORDER-COLLAPSE: collapse; OVERFLOW: visible; BORDER-TOP: #9eb6ce 0px solid; BORDER-RIGHT: #9eb6ce 0px solid" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Weighted</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Weighted</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Average</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Average</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Remaining</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Aggregate</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Number of</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Exercise</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Contract</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Intrinsic</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Options</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Price</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Term (Years)</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Value</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Options outstanding January 1, 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>71,040</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>29.71</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>9.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 10px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Granted</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>124,645</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>5.81</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>9.83</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 10px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Forfeited</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(60,940)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Outstanding at September 30, 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>134,745</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>7.60</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>9.75</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In 2015 and 2016, the following stock option grants were made:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 50%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Estimated</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Fair</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Value of</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Options</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Exercise</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Underlying</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div>Intrinsic</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="10%"> <div>Option Date</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Granted</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Price</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="9%" colspan="2"> <div>Stock</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="8%"> <div>Value</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>May 2015</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>71,040</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>29.71</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>5.79</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>July 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>86,502</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>4.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>4.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>6,004</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>5.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>7,230</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>7.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>9,986</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>9.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>August 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>14,923</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>11.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>3.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="8%"> <div>None</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> </div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> </div><div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">A summary of option activity for the Plan as of September 30, 2016 and changes for the nine months then ended are represented as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="center"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="BORDER-BOTTOM: #9eb6ce 0px solid; BORDER-LEFT: #9eb6ce 0px solid; MARGIN: 0in; WIDTH: 71.8%; BORDER-COLLAPSE: collapse; OVERFLOW: visible; BORDER-TOP: #9eb6ce 0px solid; BORDER-RIGHT: #9eb6ce 0px solid" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Weighted</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Weighted</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Average</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Average</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Remaining</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Aggregate</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Number of</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Exercise</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Contract</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Intrinsic</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Options</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Price</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Term (Years)</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 700" width="11%" colspan="2"> <div>Value</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Options outstanding January 1, 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>71,040</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>29.71</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>9.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 10px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Granted</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>124,645</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>5.81</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>9.83</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 10px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Forfeited</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(60,940)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="22%"> <div>Outstanding at September 30, 2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>134,745</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>7.60</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>9.75</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div></div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

0.45

1.70

0.454

P6Y

P6Y3M

P6Y

P10Y

0.0121

0.0151

P9Y6M

P9Y9M

P9Y9M29D

71040

86502

6004

7230

9986

14923

29.71

4.50

5.00

7.00

9.00

11.00

5.79

4.50

3.00

80000

601000

P45M

36332

10000

12000

164000

P45M

25000

33668

4.50

18000

4.50

38143

2000

32000

P9M

28000

4.50

100000

0.05

50000

33333

1000

2000

Net operating loss carryforwards expire between the years 2029 and 2035.

0.69

0.1

0.42

684000

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <b><font style="FONT-SIZE: 10pt">NOTE 10  COMMITMENTS AND CONTINGENCIES</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: -0.7in; MARGIN: 0in 0in 0pt 0.7in"> <b><font style="FONT-SIZE: 10pt"> </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Royalty</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company entered into the initial trademark license agreement with Monster, Inc. (formerly Monster Cable Products, Inc.) effective July 7, 2010. In 2012, the agreement was amended giving the Company exclusive rights to utilize the name “Monster Digital” on memory products for a period of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">25</font> years (expires <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">July 7, 2035</font>) under the following payment schedule of royalties to Monster, Inc. This license agreement contains various termination clauses that include (i) change in control, (ii) breach of contract and (iii) insolvency, among others. The Company is required to remit royalty payments to Monster, Inc. on or before the 30<sup style="font-style:normal">th</sup> day following the end of each calendar quarter. At any time during the term of the agreement, a permanent license may be negotiated.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The royalty schedule became effective in August 2011 and was further amended in April 2012. As amended, royalties under this contract are as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Years 1 (2012) and 2:  Royalties on all sales excluding sales to Monster, Inc. at a rate of four (4) percent, with no minimum.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"><font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Years 3 through 6:  Minimum royalty payments of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc. </font>  </div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"><font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Years 7 through 10:  Minimum royalty payments of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">125,000</font> per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"><font style="FONT-SIZE: 10pt"></font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"> </div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Years 11 through 15:  Minimum royalty payments of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">187,500</font> per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"><font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.3pt; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">•</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt" align="justify"><font style="FONT-SIZE: 10pt">Years 16 through 25:  Minimum royalty payments of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font> per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Effective July 1, 2014, the royalty rate on certain products was reduced from <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4</font>% to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2</font>% for a period of 12 months, based on a mutual understanding between the Company and the licensor.</font></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">For the three months ended September 30, 2015 and 2016, royalty expense amounted to approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">44,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">125,000</font>, respectively. For the nine months ended September 30, 2015 and 2016, royalty expense amounted to approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">112,000</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">246,000</font>, respectively, and is included as a component of selling and marketing expenses in the accompanying consolidated statements of operations (see Note 4).</font></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Operating Lease</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company occupies executive offices in Simi Valley, CA pursuant to a lease through <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">January 31, 2018</font> at a monthly rental rate of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">13,850</font>.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Customer Payment Agreement</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In July 2015, the Company entered into an agreement with a customer under which the Company will pay the customer a total of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">835,000</font> owed to the customer for promotional and other credits related to sales that occurred in 2014. The credits were accrued as contra-sales in 2014. <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Under the terms of the agreement, there is no interest and the Company will make 12 monthly payments of $65,000 beginning in August 2015, and one final payment of $65,000 in August 2016.</font> The Company is not in compliance with the payment agreement and the balance owed is $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">445,000</font> at September 30, 2016.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <u><font style="FONT-SIZE: 10pt">Legal Matters</font></u></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company is subject to certain legal proceedings and claims arising in connection with the normal course of its business. In the opinion of management, the reserve established for the three cases noted below is adequate so that the claims will have no material adverse effect on its consolidated financial position, results of operations or cash flows.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">On March 9, 2015, Memphis Electronics, Inc. (“MEI”) filed a complaint against SDJ and the Company, case no. 4:15-cv-1104; in U.S. District Court for the Southern District of Texas. The complaint alleged breach of contract and tort for an alleged order or orders for computer components. Plaintiff’s claims are based in contract and tort (negligent and intentional misrepresentations) relating to nonpayment of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">275,000</font> for goods ordered. In August 2016, the Company settled the complaint for (i) a payment of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">170,000</font> to MEI, (ii) the return from MEI of the components that were in dispute, and (iii) the parties mutually releasing each other from all claims that were filed or that could have been filed in this litigation.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">On August 18, 2015, Phison Electronics Corp. (“Phison”) filed a complaint against SDJ, case no. 115 CV284516, in California Superior Court in Santa Clara County. The complaint alleged breach of contract and breach of implied covenant of good faith and fair dealing resulting in claimed damages of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">585,000</font> in connection with SDJ’s alleged failure to purchase products manufactured on its account by Phison. While the complaint has been filed, Phison has not yet served it. For this reason, the Court dismissed the case, without prejudice, for failure of Phison to file a return of service and no case is currently pending. SDJ believes the claims are without merit.</font></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">On August 28, 2015, Unigen Corporation (“Unigen”) filed a complaint against SDJ, case no. HG15-78385, in California Superior Court in Alameda County. The complaint alleged breach of contract for an alleged order or orders for <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 219,200</font> specially constructed computer components. The complaint seeks $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">180,000</font> in lost profit; $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">678,669</font> for the cost of parts ordered; and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">35,000</font> in incidental expenses. In February 2016, the Company met with Unigen in an attempt to mediate the matter. However, the mediation was not successful. The parties were required to engage in a second mediation before December 31, 2016 to be followed by a January 6, 2017 settlement conference. On October 26, 2016, the parties met again to mediate the matter and entered into a stipulated settlement whereby SDJ is to pay Unigen $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">225,000</font> within thirty days at which time the case will be dismissed with prejudice. This settlement amount has been fully accrued in a legal reserve.</font></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">On February 16, 2016, we received a letter from GoPro, Inc., or GoPro, alleging that we infringe on at least five U.S. patents held by GoPro, and requesting that we confirm in writing that we will permanently cease the sale and distribution of our Villain camera, along with any camera accessories, including the waterproof camera case and standard housing. The five patents specifically identified by GoPro in the letter were U.S. Patent No. D710,921: camera housing design, U.S. Patent No. D702,747: camera housing design, U.S. Patent No. D740,875: camera housing design, U.S. Patent No. D737,879: camera design and U.S. Patent No. 721,935: camera design. Based upon our preliminary review of these patents, we believe we have some defenses to GoPro’s allegations. Our outside counsel has been in discussion with GoPro’s outside counsel and has forwarded them material which we believe supports defense to these allegations, all in an effort to move the matter to resolution. As of yet, there is no final resolution to this matter and there can be no assurance that we will be successful in defending against these allegations or reaching a business resolution that is satisfactory to us.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The supplier of our Villain camera has contractually represented and warranted that it owns or has paid royalties to any and all intellectual property, designs, software, hardware, packaging, components, manuals and any other portion, part or element that is or may be subject to the Villain and the parts and accessories thereof sourced by the supplier. This supplier has contractually agreed to pay any claims, damages, or costs that we suffer as a result of the patent infringement or a violation of international, U.S. or state laws or regulations as detailed in the prior sentence.</font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

50000 125000 187500 250000

225000

Under the terms of the agreement, there is no interest and the Company will make 12 monthly payments of $65,000 beginning in August 2015, and one final payment of $65,000 in August 2016.

50000

0.225

134044

EX-101.SCH 6 msdi-20160930.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink 102 - Statement - CONSOLIDATED BALANCE SHEETS link:presentationLink link:definitionLink link:calculationLink 103 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 104 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS link:presentationLink link:definitionLink link:calculationLink 105 - Statement - CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (DEFICIT) link:presentationLink link:definitionLink link:calculationLink 106 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:definitionLink link:calculationLink 107 - Disclosure - BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:definitionLink link:calculationLink 108 - Disclosure - GOING CONCERN link:presentationLink link:definitionLink link:calculationLink 109 - Disclosure - DEBT AND EQUITY FINANCING link:presentationLink link:definitionLink link:calculationLink 110 - Disclosure - ACCRUED EXPENSES link:presentationLink link:definitionLink link:calculationLink 111 - Disclosure - STOCKHOLDERS' EQUITY link:presentationLink link:definitionLink link:calculationLink 112 - Disclosure - STOCK OPTIONS link:presentationLink link:definitionLink link:calculationLink 113 - Disclosure - RELATED PARTY TRANSACTIONS link:presentationLink link:definitionLink link:calculationLink 114 - Disclosure - INCOME TAXES link:presentationLink link:definitionLink link:calculationLink 115 - Disclosure - CUSTOMER AND VENDOR CONCENTRATIONS link:presentationLink link:definitionLink link:calculationLink 116 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:definitionLink link:calculationLink 117 - Disclosure - BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) link:presentationLink link:definitionLink link:calculationLink 118 - Disclosure - DEBT AND EQUITY FINANCING (Tables) link:presentationLink link:definitionLink link:calculationLink 119 - Disclosure - ACCRUED EXPENSES (Tables) link:presentationLink link:definitionLink link:calculationLink 120 - Disclosure - STOCKHOLDERS' EQUITY (Tables) link:presentationLink link:definitionLink link:calculationLink 121 - Disclosure - STOCK OPTIONS (Tables) link:presentationLink link:definitionLink link:calculationLink 122 - Disclosure - BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) link:presentationLink link:definitionLink link:calculationLink 123 - Disclosure - GOING CONCERN (Details Textual) link:presentationLink link:definitionLink link:calculationLink 124 - Disclosure - DEBT AND EQUITY FINANCING (Details) link:presentationLink link:definitionLink link:calculationLink 125 - Disclosure - DEBT AND EQUITY FINANCING (Details Textual) link:presentationLink link:definitionLink link:calculationLink 126 - Disclosure - ACCRUED EXPENSES (Details) link:presentationLink link:definitionLink link:calculationLink 127 - Disclosure - STOCKHOLDERS' EQUITY (Details) link:presentationLink link:definitionLink link:calculationLink 128 - Disclosure - STOCKHOLDERS' EQUITY (Details Textual) link:presentationLink link:definitionLink link:calculationLink 129 - Disclosure - STOCK OPTIONS (Details) link:presentationLink link:definitionLink link:calculationLink 130 - Disclosure - STOCK OPTIONS (Details 1) link:presentationLink link:definitionLink link:calculationLink 131 - Disclosure - STOCK OPTIONS (Details 2) link:presentationLink link:definitionLink link:calculationLink 132 - Disclosure - STOCK OPTIONS (Details Textual) link:presentationLink link:definitionLink link:calculationLink 133 - Disclosure - RELATED PARTY TRANSACTIONS (Details Textual) link:presentationLink link:definitionLink link:calculationLink 134 - Disclosure - INCOME TAXES (Details Textual) link:presentationLink link:definitionLink link:calculationLink 135 - Disclosure - CUSTOMER AND VENDOR CONCENTRATIONS (Details Textual) link:presentationLink link:definitionLink link:calculationLink 136 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details Textual) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 7 msdi-20160930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 8 msdi-20160930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 9 msdi-20160930_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Document And Entity Information [Abstract] Document Information [Table] Class of Stock [Axis] Document Type Amendment Flag Document Period End Date Document Fiscal Year Focus Document Fiscal Period Focus Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Entity Filer Category Trading Symbol Entity Common Stock, Shares Outstanding Statement of Financial Position [Abstract] Statement [Table] Class of Stock [Domain] Statement [Line Items] Assets [Abstract] ASSETS Assets, Current [Abstract] Current assets Cash Cash Cash, beginning of the period Cash, end of the period Accounts Receivable, Net, Current Accounts receivable, net of allowances of $99 and $252, respectively Inventory, Net Inventories Prepaid Expense and Other Assets, Current Prepaid expenses and other Assets, Current Total current assets Finite-Lived Intangible Assets, Net Trademark, net of amortization of $54 and $152, respectively Deferred Offering Costs Deferred IPO costs Deposits Assets, Noncurrent Deposits and other assets Assets Total assets Liabilities and Equity [Abstract] LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) Liabilities, Current [Abstract] Current liabilities Line of Credit, Current Line of credit Accounts Payable, Current Accounts payable Accrued Liabilities, Current Accrued expenses Total Customer Refund Liability, Current Customer refund Due to Related Parties, Current Due to related parties Notes Payable, Current Notes payable Liabilities, Current Total current liabilities Commitments and Contingencies Commitments and contingencies Stockholders' Equity Attributable to Parent [Abstract] Shareholders’ equity (deficit) Preferred Stock, Value, Issued Preferred stock; 10,000,000 shares authorized; no shares issued and outstanding Common Stock, Value, Issued Common stock; $.0001 par value; 100,000,000 shares authorized; 3,702,865 and 7,339,050 shares issued and outstanding, respectively Additional Paid in Capital Additional paid-in capital Retained Earnings (Accumulated Deficit) Accumulated deficit Stockholders' Equity Attributable to Parent Total shareholders’ equity (deficit) Balance Balance Liabilities and Equity Total liabilities and shareholders’ equity (deficit) Allowance for Doubtful Accounts Receivable, Current Finite-Lived Intangible Assets, Accumulated Amortization Preferred Stock, Shares Authorized Preferred Stock, Shares Issued Preferred Stock, Shares Outstanding Common Stock, Par or Stated Value Per Share Common Stock, Shares Authorized Common Stock, Shares, Issued Common Stock, Shares, Outstanding Sales Revenue, Goods, Net Net sales Cost of Goods Sold Cost of goods sold Gross Profit Gross profit Operating Expenses [Abstract] Operating expenses Research and Development Expense Research and development Selling and Marketing Expense Selling and marketing General and Administrative Expense General and administrative Operating Expenses Total operating expenses Operating Income (Loss) Operating loss Other Expenses [Abstract] Other (income) expense, net Interest Expense Interest and finance expense Gain Loss on Conversion of Debt Gain on conversion of debt Gain on conversion of debt to common stock Gain(Loss) on conversion of debt to common stock. Induced Conversion of Convertible Debt Expense Debt conversion expense Debt conversion expense Total other income expense Total other (income) expense Represent the total other income (expense). Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Loss before income taxes Income Tax Expense (Benefit) Provision for income taxes Earnings Per Share [Abstract] Loss Per Share Earnings Per Share, Basic and Diluted Basic and Diluted Weighted Average Number of Shares Outstanding, Diluted [Abstract] Number of Shares used in Computation Weighted Average Number of Shares Outstanding, Basic and Diluted Basic and Diluted Statement of Stockholders' Equity [Abstract] Equity Components [Axis] Equity Component [Domain] Common Stock [Member] Preferred Stock [Member] Additional Paid-in Capital [Member] Retained Earnings [Member] Shares, Outstanding Balance (in share) Balance (in share) Preferred Stock Issued During Period Value New Issues Issuance of preferred stock Equity impact of the value of preferred stock issued during the period. Preferred Stock Issued During Period Shares New Issues Issuance of preferred stock (in share) Number of preferred stock issued during the period. Accounting Policies [Abstract] Stock Issued During Period, Value, Conversion of Convertible Securities Conversion of preferred to common stock Stock Issued During Period, Shares, Conversion of Convertible Securities Conversion of preferred to common stock (In shares) Debt Conversion, Converted Instrument, Amount Exchange of debt for equity Exchange of debt for equity Basis of Presentation and Significant Accounting Policies [Text Block] Debt Conversion, Converted Instrument, Shares Issued Exchange of debt for equity (in Shares) Public Offering [Policy Text Block] Disclosure of accounting policy for public offering. Basis of Accounting, Policy [Policy Text Block] Consolidation, Policy [Policy Text Block] Use of Estimates, Policy [Policy Text Block] Concentration Risk, Credit Risk, Policy [Policy Text Block] Receivables, Policy [Policy Text Block] Inventory, Policy [Policy Text Block] Fair Value of Financial Instruments, Policy [Policy Text Block] Revenue Recognition, Policy [Policy Text Block] Shipping and Handling Cost, Policy [Policy Text Block] Income Tax, Policy [Policy Text Block] Guarantees, Indemnifications and Warranties Policies [Policy Text Block] Research and Development Expense, Policy [Policy Text Block] Earnings Per Share, Policy [Policy Text Block] New Accounting Pronouncements, Policy [Policy Text Block] Statement of Cash Flows [Abstract] Sale of Stock [Axis] Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract] Cash flows from operating activities Net Income (Loss) Attributable to Parent Net loss Net Loss Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] Adjustments to reconcile net loss to net cash used in operating activities: Share-based Compensation Stock-based compensation Amortization of Debt Issuance Costs and Discounts Amortization of deferred debt issuance costs and debt discount Amortization of Intangible Assets Amortization of trademark Increase (Decrease) in Operating Capital [Abstract] Changes in operating assets and liabilities: Increase (Decrease) in Accounts Receivable Accounts receivable Increase (Decrease) in Inventories Inventories Increase (Decrease) in Prepaid Expense and Other Assets Prepaid expenses and other Increase (Decrease) in Other Operating Assets Other assets Increase (Decrease) in Accounts Payable Accounts payable Increase (Decrease) in Accrued Liabilities Accrued expenses Increase (Decrease) in Customer Deposits Customer refund Increase (Decrease) in Due to Related Parties, Current Due to related parties Net Cash Provided by (Used in) Operating Activities, Continuing Operations Net cash used in operating activities Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract] Cash flows from financing activities Proceeds from Issuance of Preferred Stock and Preference Stock Proceeds from issuance of preferred stock, net Proceeds from Issuance of Private Placement Private placement offering Payments Of Private Placement Issuance Costs Private placement issuance costs The amount of accrued interest on debt converted to equity Proceeds from (Repayments of) Related Party Debt Short-term loan - related party, net Proceeds from Issuance Initial Public Offering Proceeds from issuance of IPO common stock and warrants Payments of Stock Issuance Costs IPO costs Payments of Loan Costs Payments on bridge financing Proceeds from Other Short-term Debt Proceeds from issuance of bridge financing Proceeds from issuance of convertible debt and warrants Proceeds from issuance of convertible debt and warrants The cash inflow from the issuance of convertible debt and warrants. Proceeds from Lines of Credit Proceeds from credit facility Repayments of Lines of Credit Payments on credit facility Repayments of Notes Payable Payments on trademark note payable Payments of Debt Issuance Costs Deferred financing costs Supplemental Cash Flow Information [Abstract] Supplemental disclosure of cash flow information Interest Paid [Abstract] Cash paid during the period for: Interest Paid, Net Interest Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] Non-cash investing and financing activities: Reclassification Of Initial Public Offering Cost Incurred During Noncash or Partial Noncash Transaction Reclassification of deferred IPO costs The amount of reclassification of initial public offering costs that were incurred during a noncash or partial noncash transaction. Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction Deferred IPO costs Net Cash Provided by (Used in) Financing Activities, Continuing Operations Net cash (used in) provided by financing activities Cash, Period Increase (Decrease) Net (decrease) increase in cash Significant Accounting Policies Disclosure [Table] Subsequent Event Type [Axis] Subsequent Event Type [Domain] Short-term Debt, Type [Axis] Stock Issued During Period, Shares, New Issues Issuance of Common Stock (in share) Shares Issued, Price Per Share Warrants Issued During Period Value Number of warrants issued during period. Warrants Issued Price PerS hare Warrants Issued Price Per Share Issue price of warrants issued during period. Allowance for Doubtful Accounts Receivable Stockholders' Equity Note [Abstract] Shipping, Handling and Transportation Costs Stockholders' Equity Note Disclosure [Text Block] Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] Extended Product Warranty Accrual, Current Antidilutive Securities Excluded From Computation Of NetIncome Per Outstanding Unit Shares Antidilutive Securities Excluded From Computation Of Net Income Per Outstanding Unit Shares The number of dilutive potential limited partnership units used in the calculation of the diluted per-unit computation. Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table] Antidilutive Securities [Axis] Short-term Debt, Type [Domain] Going Concern [Abstract] Substantial Doubt about Going Concern [Text Block] Warrant [Member] Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] Goin Concern [Table] Share Price Fair value of warrants issued Going Concern [Line Items] Capital Deficit Carrying amount of capital deficit reported as of balance sheet date. Accumulated Other Comprehensive Income (Loss), Net of Tax Fair Value Assumptions, Expected Term Expected term (years) Fair Value Assumptions, Risk Free Interest Rate Risk-free interest rate Fair Value Assumptions, Expected Volatility Rate Volatility Fair Value Assumptions, Expected Dividend Rate Dividend yield Debt Disclosure [Abstract] Debt Disclosure [Text Block] Schedule of Short-term Debt [Table] Short-term Debt [Line Items] Convertible Notes Payable, Current Note payable, convertible debt Due to Affiliate, Current Due to Monster, Inc. Other Notes Payable, Current Interest and loan origination fee accrued related to promissory notes payable and accrued at issuance Loans Payable, Current Promissory notes payable, 2015 bridge loans, net of debt discount of $563 and $0, respectively, and net of debt issuance cost of $483 and $0, respectively Schedule of Stock by Class [Table] Notes and Loans Payable, Current Total Lender Name [Axis] Title of Individual [Axis] Line of Credit Facility, Lender [Domain] Relationship to Entity [Domain] EX-101.PRE 10 msdi-20160930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 11 R1.htm IDEA: XBRL DOCUMENT

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2016	Oct. 31, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Entity Registrant Name	Monster Digital, Inc.
Entity Central Index Key	0001551986
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	MSDI
Entity Common Stock, Shares Outstanding		7,339,050

XML 12 R2.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets
Cash	$ 2,970	$ 119
Accounts receivable, net of allowances of $99 and $252, respectively	928	644
Inventories	1,789	633
Prepaid expenses and other	440	141
Total current assets	6,127	1,537
Trademark, net of amortization of $54 and $152, respectively	2,450	2,548
Deferred IPO costs	0	619
Deposits and other assets	14	14
Total assets	8,591	4,718
Current liabilities
Line of credit	0	215
Accounts payable	388	1,021
Accrued expenses	3,275	3,311
Customer refund	1,840	1,850
Due to related parties	0	510
Notes payable	38	3,505
Total current liabilities	5,541	10,412
Commitments and contingencies
Shareholders’ equity (deficit)
Preferred stock; 10,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock; $.0001 par value; 100,000,000 shares authorized; 3,702,865 and 7,339,050 shares issued and outstanding, respectively	0	0
Additional paid-in capital	33,880	20,181
Accumulated deficit	(30,830)	(25,875)
Total shareholders’ equity (deficit)	3,050	(5,694)
Total liabilities and shareholders’ equity (deficit)	$ 8,591	$ 4,718

XML 13 R3.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Allowance for Doubtful Accounts Receivable, Current	$ 252	$ 99
Finite-Lived Intangible Assets, Accumulated Amortization	$ 152	$ 54
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	7,339,050	3,702,865
Common Stock, Shares, Outstanding	7,339,050	3,702,865

XML 14 R4.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net sales	$ 779	$ 4,109	$ 2,999	$ 6,827
Cost of goods sold	687	3,577	2,430	6,034
Gross profit	92	532	569	793
Operating expenses
Research and development	54	98	168	288
Selling and marketing	550	505	1,777	1,563
General and administrative	1,852	1,321	3,322	3,083
Total operating expenses	2,456	1,924	5,267	4,934
Operating loss	(2,364)	(1,392)	(4,698)	(4,141)
Other (income) expense, net
Interest and finance expense	25	75	812	705
Gain on conversion of debt	(557)	0	(557)	0
Debt conversion expense	0	0	0	898
Total other (income) expense	(532)	75	255	1,603
Loss before income taxes	(1,832)	(1,467)	(4,953)	(5,744)
Provision for income taxes	2	1	2	1
Net Loss	$ (1,834)	$ (1,468)	$ (4,955)	$ (5,745)
Loss Per Share
Basic and Diluted	$ (0.27)	$ (0.45)	$ (1.05)	$ (1.82)
Number of Shares used in Computation
Basic and Diluted	6,909	3,286	4,721	3,156

XML 15 R5.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY (DEFICIT) - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]
Balance at Dec. 31, 2015	$ (5,694)	$ 0	$ 0	$ 20,181	$ (25,875)
Balance (in share) at Dec. 31, 2015		3,702,865	0
Issuance of preferred stock	2,393	$ 0	$ 0	2,393	0
Issuance of preferred stock (in share)		0	2,802,430
Conversion of preferred to common stock		$ 0	$ 0	0	0
Conversion of preferred to common stock (In shares)		756,806	(2,802,430)
Exchange of debt for equity	0	$ 0	$ 0	3,520	0
Exchange of debt for equity (in Shares)		782,244	0
Issuance of common stock and warrants in IPO net of issuance costs	6,843	$ 0	$ 0	6,843	0
Issuance of common stock and warrants in IPO net of issuance costs (in shares)		2,025,000	0
Issuance of restricted shares of common stock	0	$ 0	$ 0	0	0
Issuance of restricted shares of common stock (in shares)		72,135	0
Amortization of non-cash stock-based compensation	943	$ 0	$ 0	943	0
Net loss	(4,955)	0	0	0	(4,955)
Balance at Sep. 30, 2016	$ 3,050	$ 0	$ 0	$ 33,880	$ (30,830)
Balance (in share) at Sep. 30, 2016		7,339,050	0

XML 16 R6.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net loss	$ (4,955,000)	$ (5,745,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	943,000	283,000
Amortization of deferred debt issuance costs and debt discount	740,000	483,000
Amortization of trademark	98,000	21,000
Gain on conversion of debt to common stock	(557,000)	0
Debt conversion expense	0	898,000
Provision for doubtful accounts	153,000	160,000
Changes in operating assets and liabilities:
Accounts receivable	(437,000)	1,942,000
Inventories	(1,156,000)	1,406,000
Prepaid expenses and other	(299,000)	(141,000)
Other assets	0	28,000
Accounts payable	(633,000)	(202,000)
Accrued expenses	(124,000)	(959,000)
Customer refund	(10,000)	1,843,000
Due to related parties	0	(59,000)
Net cash used in operating activities	(6,237,000)	(42,000)
Cash flows from financing activities
Proceeds from issuance of preferred stock, net	2,393,000	0
Private placement offering	0	2,969,000
Private placement issuance costs	0	(414,000)
Short-term loan - related party, net	0	(51,000)
Proceeds from issuance of IPO common stock and warrants	8,151,000	0
IPO costs	(689,000)	0
Payments on bridge financing	(462,000)	0
Proceeds from issuance of bridge financing	406,000	0
Proceeds from issuance of convertible debt and warrants	0	1,645,000
Proceeds from credit facility	581,000	6,969,000
Payments on credit facility	(785,000)	(10,782,000)
Payments on trademark note payable	(450,000)	0
Deferred financing costs	(57,000)	(337,000)
Net cash (used in) provided by financing activities	9,088,000	(1,000)
Net (decrease) increase in cash	2,851,000	(43,000)
Cash, beginning of the period	119,000	97,000
Cash, end of the period	2,970,000	54,000
Cash paid during the period for:
Interest	55,000	221,000
Non-cash investing and financing activities:
Reclassification of deferred IPO costs	619,000	0
Deferred IPO costs	0	218,000
Stock purchase warrants issued with debt	0	335,000
Issuance of common stock in connection with trademark purchase	0	2,103,000
Exchange of debt for equity	0	2,272,000
IPO [Member]
Non-cash investing and financing activities:
Exchange of debt for equity	$ 3,520,000	$ 0

XML 17 R7.htm IDEA: XBRL DOCUMENT

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies [Text Block]

NOTE 1 — BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of Consolidation: The consolidated financial statements include the accounts of MDI and SDJ. All significant intercompany transactions have been eliminated in consolidation.

Level 1:

Quoted prices for identical instruments in active markets.

Level 2:

Level 3:

Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The Company also offers market development credits (“MDF credits”) to certain of its customers. These credits are also charged against revenue.

Research and Development: The Company incurs costs to improve the appeal and functionality of its products. Research and development costs are charged to expense when incurred.

XML 18 R8.htm IDEA: XBRL DOCUMENT

GOING CONCERN

9 Months Ended

Sep. 30, 2016

Going Concern [Abstract]

Substantial Doubt about Going Concern [Text Block]

NOTE 2 — GOING CONCERN

•

On July 13, 2016, the Company received gross proceeds of approximately $9.1 million upon closing the Offering.

•

XML 19 R9.htm IDEA: XBRL DOCUMENT

DEBT AND EQUITY FINANCING

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

NOTE 3 — DEBT AND EQUITY FINANCING

Credit Facility

Debt to Equity Exchange Offer

Promissory notes

Due to Monster, Inc.

Notes payable consists of the following (in thousands):

	December 31,		September 30,
	2015		2016
Note payable, convertible debt	$	38	$	38
Due to Monster, Inc.		450		—
Interest and loan origination fee accrued related to promissory notes payable and accrued at issuance		1,108		—
Promissory notes payable, 2015 bridge loans, net of debt discount of $563 and $0, respectively, and net of debt issuance cost of $483 and $0, respectively		1,909		—
Total	$	3,505	$	38

XML 20 R10.htm IDEA: XBRL DOCUMENT

ACCRUED EXPENSES

9 Months Ended

Sep. 30, 2016

Payables and Accruals [Abstract]

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

NOTE 4 — ACCRUED EXPENSES

Accrued expenses consist of the following (in thousands):

	December 31,		September 30,
	2015		2016
Royalties	$	103	$	125
Market development credits		336		112
Price protection		563		139
Return reserves		891		218
Reserve for legal contingencies		300		468
Accrued purchase orders		123		982
Others		995		1,231
Total	$	3,311	$	3,275

XML 21 R11.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 5 — STOCKHOLDERS’ EQUITY

A summary of significant assumptions used to estimate the fair value of the warrants issued in August 2015 are as follows:

Fair value of warrants issued	$	.89
Expected term (years)		5.0
Risk-free interest rate		1.60	%
Volatility		45.4	%
Dividend yield		None

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.C)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

+ Details

XML 22 R12.htm IDEA: XBRL DOCUMENT

STOCK OPTIONS

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 6 — STOCK OPTIONS

In 2015 and 2016, the following stock option grants were made:

					Estimated
					Fair
					Value of
	Options		Exercise		Underlying		Intrinsic
Option Date	Granted		Price		Stock		Value
May 2015		71,040	$	29.71	$	5.79	None
July 2016		86,502	$	4.50	$	4.50	None
August 2016		6,004	$	5.00	$	3.00	None
August 2016		7,230	$	7.00	$	3.00	None
August 2016		9,986	$	9.00	$	3.00	None
August 2016		14,923	$	11.00	$	3.00	None

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2015 are as follows:

Weighted average fair value of options granted	$	0.45
Expected term (years)		6.0 to 6.25
Risk-free interest rate		1.89	%
Volatility		45.4	%
Dividend yield		None

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2016 are as follows:

Weighted average fair value of options granted	$	1.70
Expected term (years)		6.0 to 10.0
Risk-free interest rate		1.21% to 1.51%
Volatility		45.4	%
Dividend yield		None

A summary of option activity for the Plan as of September 30, 2016 and changes for the nine months then ended are represented as follows:

					Weighted
			Weighted		Average
			Average		Remaining		Aggregate
	Number of		Exercise		Contract		Intrinsic
	Options		Price		Term (Years)		Value
Options outstanding January 1, 2016		71,040	$	29.71		9.50	$	—
Granted		124,645		5.81		9.83		—
Forfeited		(60,940)		—		—		—
Outstanding at September 30, 2016		134,745	$	7.60		9.75	$	—

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

XML 23 R13.htm IDEA: XBRL DOCUMENT

RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2016

NOTE 7 — RELATED PARTY TRANSACTIONS

XML 24 R14.htm IDEA: XBRL DOCUMENT

INCOME TAXES

9 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 8 — INCOME TAXES

The effective income tax provision as a percentage of pre-tax loss differs from expected combined federal and state income tax of 40% as a result of the full valuation allowance

Management is not aware of any uncertain tax positions and does not expect the total amount of recognized tax benefits to change significantly in the next twelve months.

XML 25 R15.htm IDEA: XBRL DOCUMENT

CUSTOMER AND VENDOR CONCENTRATIONS

9 Months Ended

Sep. 30, 2016

Risks and Uncertainties [Abstract]

Concentration Risk Disclosure [Text Block]

NOTE 9 — CUSTOMER AND VENDOR CONCENTRATIONS

Customers:

Vendors:

XML 26 R16.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 10 — COMMITMENTS AND CONTINGENCIES

Royalty

The royalty schedule became effective in August 2011 and was further amended in April 2012. As amended, royalties under this contract are as follows:

•

Years 1 (2012) and 2: Royalties on all sales excluding sales to Monster, Inc. at a rate of four (4) percent, with no minimum.

•

Years 3 through 6: Minimum royalty payments of $50,000 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

•

Years 7 through 10: Minimum royalty payments of $125,000 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

•

Years 11 through 15: Minimum royalty payments of $187,500 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

•

Years 16 through 25: Minimum royalty payments of $250,000 per quarter up to a maximum of four (4) percent of all sales excluding sales to Monster, Inc.

Effective July 1, 2014, the royalty rate on certain products was reduced from 4% to 2% for a period of 12 months, based on a mutual understanding between the Company and the licensor.

Operating Lease

The Company occupies executive offices in Simi Valley, CA pursuant to a lease through January 31, 2018 at a monthly rental rate of $13,850.

Customer Payment Agreement

Legal Matters

XML 27 R17.htm IDEA: XBRL DOCUMENT

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

9 Months Ended

Sep. 30, 2016

Accounting Policies [Abstract]

Public Offering [Policy Text Block]

Basis of Accounting, Policy [Policy Text Block]

Consolidation, Policy [Policy Text Block]

Principles of Consolidation: The consolidated financial statements include the accounts of MDI and SDJ. All significant intercompany transactions have been eliminated in consolidation.

Use of Estimates, Policy [Policy Text Block]

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Receivables, Policy [Policy Text Block]

Inventory, Policy [Policy Text Block]

Fair Value of Financial Instruments, Policy [Policy Text Block]

Level 1:

Quoted prices for identical instruments in active markets.

Level 2:

Level 3:

Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Revenue Recognition, Policy [Policy Text Block]

The Company also offers market development credits (“MDF credits”) to certain of its customers. These credits are also charged against revenue.

Shipping and Handling Cost, Policy [Policy Text Block]

Income Tax, Policy [Policy Text Block]

Guarantees, Indemnifications and Warranties Policies [Policy Text Block]

Research and Development Expense, Policy [Policy Text Block]

Research and Development: The Company incurs costs to improve the appeal and functionality of its products. Research and development costs are charged to expense when incurred.

Earnings Per Share, Policy [Policy Text Block]

New Accounting Pronouncements, Policy [Policy Text Block]

XML 28 R18.htm IDEA: XBRL DOCUMENT

DEBT AND EQUITY FINANCING (Tables)

9 Months Ended

Sep. 30, 2016

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Notes payable consists of the following (in thousands):

	December 31,		September 30,
	2015		2016
Note payable, convertible debt	$	38	$	38
Due to Monster, Inc.		450		—
Interest and loan origination fee accrued related to promissory notes payable and accrued at issuance		1,108		—
Promissory notes payable, 2015 bridge loans, net of debt discount of $563 and $0, respectively, and net of debt issuance cost of $483 and $0, respectively		1,909		—
Total	$	3,505	$	38

XML 29 R19.htm IDEA: XBRL DOCUMENT

ACCRUED EXPENSES (Tables)

9 Months Ended

Sep. 30, 2016

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities [Table Text Block]

Accrued expenses consist of the following (in thousands):

	December 31,		September 30,
	2015		2016
Royalties	$	103	$	125
Market development credits		336		112
Price protection		563		139
Return reserves		891		218
Reserve for legal contingencies		300		468
Accrued purchase orders		123		982
Others		995		1,231
Total	$	3,311	$	3,275

XML 30 R20.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

A summary of significant assumptions used to estimate the fair value of the warrants issued in August 2015 are as follows:

Fair value of warrants issued	$	.89
Expected term (years)		5.0
Risk-free interest rate		1.60	%
Volatility		45.4	%
Dividend yield		None

XML 31 R21.htm IDEA: XBRL DOCUMENT

STOCK OPTIONS (Tables)

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Activity [Table Text Block]

In 2015 and 2016, the following stock option grants were made:

					Estimated
					Fair
					Value of
	Options		Exercise		Underlying		Intrinsic
Option Date	Granted		Price		Stock		Value
May 2015		71,040	$	29.71	$	5.79	None
July 2016		86,502	$	4.50	$	4.50	None
August 2016		6,004	$	5.00	$	3.00	None
August 2016		7,230	$	7.00	$	3.00	None
August 2016		9,986	$	9.00	$	3.00	None
August 2016		14,923	$	11.00	$	3.00	None

A summary of option activity for the Plan as of September 30, 2016 and changes for the nine months then ended are represented as follows:

					Weighted
			Weighted		Average
			Average		Remaining		Aggregate
	Number of		Exercise		Contract		Intrinsic
	Options		Price		Term (Years)		Value
Options outstanding January 1, 2016		71,040	$	29.71		9.50	$	—
Granted		124,645		5.81		9.83		—
Forfeited		(60,940)		—		—		—
Outstanding at September 30, 2016		134,745	$	7.60		9.75	$	—

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2015 are as follows:

Weighted average fair value of options granted	$	0.45
Expected term (years)		6.0 to 6.25
Risk-free interest rate		1.89	%
Volatility		45.4	%
Dividend yield		None

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2016 are as follows:

Weighted average fair value of options granted	$	1.70
Expected term (years)		6.0 to 10.0
Risk-free interest rate		1.21% to 1.51%
Volatility		45.4	%
Dividend yield		None

XML 32 R22.htm IDEA: XBRL DOCUMENT

BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 13, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Significant Accounting Policies Disclosure [Line Items]
Proceeds from Issuance Initial Public Offering	$ 9,132,750			$ 8,151,000	$ 0
Stock Issued During Period, Shares, New Issues	2,025,000
Shares Issued, Price Per Share	$ 4.50		$ 4.50		$ 4.50
Warrants Issued During Period Value	$ 2,025,000
Warrants Issued Price Per Share	$ 0.01
Allowance for Doubtful Accounts Receivable		$ 252,000		252,000		$ 99,000
Shipping, Handling and Transportation Costs		24,000	$ 175,000	118,000	$ 269,000
Extended Product Warranty Accrual, Current		$ 217,000		$ 217,000		$ 234,000
Convertible Debt Securities [Member]
Significant Accounting Policies Disclosure [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				38,000
Common Stock Shares [Member]
Significant Accounting Policies Disclosure [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				3,755,100
Offering Common Stock [Member]
Significant Accounting Policies Disclosure [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				2,025,000
Preferred Stock and Bridge Loan [Member]
Significant Accounting Policies Disclosure [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				1,405,007
Other Warrants [Member]
Significant Accounting Policies Disclosure [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				325,093
Common Stock [Member]
Significant Accounting Policies Disclosure [Line Items]
Stock Issued During Period, Shares, New Issues	134,044
Antidilutive Securities Excluded From Computation Of Net Income Per Outstanding Unit Shares				96,602

XML 33 R23.htm IDEA: XBRL DOCUMENT

GOING CONCERN (Details Textual) - USD ($)	1 Months Ended	9 Months Ended
GOING CONCERN (Details Textual) - USD ($)	Jul. 13, 2016	Sep. 30, 2016	Sep. 30, 2015
Going Concern [Line Items]
Capital Deficit		$ 5,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax		31,000,000
Proceeds from Issuance Initial Public Offering	$ 9,132,750	$ 8,151,000	$ 0

XML 34 R24.htm IDEA: XBRL DOCUMENT

DEBT AND EQUITY FINANCING (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Short-term Debt [Line Items]
Note payable, convertible debt	$ 38	$ 38
Due to Monster, Inc.	0	450
Interest and loan origination fee accrued related to promissory notes payable and accrued at issuance	0	1,108
Promissory notes payable, 2015 bridge loans, net of debt discount of $563 and $0, respectively, and net of debt issuance cost of $483 and $0, respectively	0	1,909
Total	$ 38	$ 3,505

XML 35 R25.htm IDEA: XBRL DOCUMENT

DEBT AND EQUITY FINANCING (Details Textual)	1 Months Ended				3 Months Ended		5 Months Ended	9 Months Ended		10 Months Ended	12 Months Ended
DEBT AND EQUITY FINANCING (Details Textual)	Jul. 13, 2016 USD ($) $ / shares shares	Jan. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Jun. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Mar. 31, 2015 USD ($) shares	Mar. 07, 2016 $ / shares	Sep. 30, 2016 USD ($) shares	Sep. 30, 2015 USD ($) $ / shares	Sep. 30, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($) $ / shares shares
Short-term Debt [Line Items]
Payments of Debt Issuance Costs								$ 57,000	$ 337,000
Notes Payable, Current			$ 3,505,000		$ 38,000			38,000		$ 38,000	$ 3,505,000
Debt Instrument, Interest Rate, Stated Percentage							15.00%
Loan Processing Fee Each Dollar \| $ / shares							$ 0.225
Amortization of Debt Issuance Costs and Discounts								740,000	483,000
Debt Conversion, Converted Instrument, Amount								0	$ 2,272,000
Shares Issued, Price Per Share \| $ / shares	$ 4.50								$ 4.50
Bridge Loan			563,000		0			0		0	563,000
Unamortized Debt Issuance Expense			483,000		0			$ 0		0	483,000
Notes Payable			3,000,000								3,000,000
Stock Issued During Period, Shares, New Issues \| shares	2,025,000
Common Stock [Member]
Short-term Debt [Line Items]
Debt Conversion, Converted Instrument, Shares Issued \| shares								782,244
Debt Conversion, Converted Instrument, Amount								$ 0
Stock Issued During Period, Shares, New Issues \| shares	134,044
Trade Names [Member]
Short-term Debt [Line Items]
Payments to Acquire Intangible Assets		$ 75,000	50,000							125,000	500,000
Convertible Notes Payable [Member]
Short-term Debt [Line Items]
Convertible Notes Payable Conversion Price Current Rate \| $ / shares												$ 22.27
Convertible Notes Payable Conversion Price Reduced Rate \| $ / shares												$ 14.85
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right \| shares												0.07
Number Of Warrants Called By Each Securities \| shares												0.13
Debt Instrument, Convertible, Number of Equity Instruments												336,682
Debt Conversion, Original Debt, Amount												$ 3,428,000
Adjustments to Additional Paid in Capital, Convertible Debt with Conversion Feature												$ 5,870,000
Proceeds from Convertible Debt									$ 1,645,000
Payments of Debt Issuance Costs						$ 898,000
Debt Conversion, Converted Instrument, Shares Issued \| shares						158,265
Notes Payable, Current			38,000		38,000			38,000		38,000	38,000
Loans Payable [Member]
Short-term Debt [Line Items]
Debt Conversion, Converted Instrument, Shares Issued \| shares	672,000
Loan Processing Fee								756,000
Amortization of Debt Issuance Costs and Discounts					25,000			389,000
Percentage of Outstanding Promissory Notes	90.00%
Debt Conversion, Converted Instrument, Amount	$ 3,024,000
Shares Issued, Price Per Share \| $ / shares	$ 4.50
Conversion of Debt, Percentage of Accrued Interest Waived	15.00%
Origination of Loan to Purchase Common Stock	$ 336,000
Conversion of Debt, Percentage of Origination Fees Waived	22.50%
Debt Conversion, Converted Instrument, Warrants or Options Issued \| shares	672,000
Bay View Funding [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity				$ 4,000,000
Line of Credit Facility, Commitment Fee Description				factoring fee of 1.35% for the first 30 days and .45% for each 10-day period thereafter that the financed receivable remains outstanding.
Line of Credit Facility, Fair Value of Amount Outstanding			$ 215,000		$ 0			$ 0		$ 0	$ 215,000

XML 36 R26.htm IDEA: XBRL DOCUMENT

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule Of Accrued Liabilities [Line Items]
Royalties	$ 125	$ 103
Market development credits	112	336
Price protection	139	563
Return reserves	218	891
Reserve for legal contingencies	468	300
Accrued purchase orders	982	123
Others	1,231	995
Total	$ 3,275	$ 3,311

XML 37 R27.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS' EQUITY (Details) - Warrant [Member]	9 Months Ended
STOCKHOLDERS' EQUITY (Details) - Warrant [Member]	Sep. 30, 2016 $ / shares
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value of warrants issued	$ 0.89
Expected term (years)	5 years
Risk-free interest rate	1.60%
Volatility	45.40%
Dividend yield	0.00%

XML 38 R28.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS' EQUITY (Details Textual) - USD ($)		1 Months Ended					3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
STOCKHOLDERS' EQUITY (Details Textual) - USD ($)	Jan. 07, 2016	Jul. 13, 2016	Jun. 30, 2016	Jun. 23, 2016	Jun. 06, 2016	Aug. 31, 2015	Sep. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Aug. 31, 2016	Nov. 30, 2015	Apr. 30, 2015	Dec. 31, 2012
Class of Stock [Line Items]
Warrant Cancelled During Period											99,681		99,681
Warrants Issued During Period Value		$ 2,025,000
Stock Issued During Period, Shares, New Issues		2,025,000
Stockholders' Equity, Reverse Stock Split	one-for-11.138103 reverse stock split			one-for-1.06	one-for-1.2578616 reverse stock split
Restricted Stock or Unit Expense							$ 80,000				$ 28,000
Convertible Preferred Stock, Terms of Conversion								with a purchase price of $1.00 per share and convertible into one share of the Companys common stock and having an 8%, noncumulative dividend.
Proceeds from Issuance of Private Placement											0	$ 2,969,000
Shares Issued, Price Per Share		$ 4.50							$ 4.50	$ 4.50		$ 4.50
Convertible Preferred Stock Warrants Issued upon Conversion		622,762
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized															370,350		101,005
Share-based Compensation											943,000	$ 283,000
Common Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		134,044
Restricted Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized														545,000
Share-based Compensation							66,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Convertible Preferred Stock, Shares Issued upon Conversion		622,762						3,000,000
Sale of Stock, Number of Shares Issued in Transaction			2,802,430
Proceeds from Issuance of Private Placement			$ 2,400,000
Shares Issued, Price Per Share		$ 4.50
Trademark License Agreement [Member]
Class of Stock [Line Items]
Sale of Stock, Price Per Share						$ 5.49
Stock Issued During Period, Shares, Restricted Stock Award, Gross						382,575
Stock Issued During Period, Value, Restricted Stock Award, Gross						$ 2,103,000
Service Agreement [Member] \| Restricted Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized														40,000
Share-based Compensation							16,000
Board of Directors Chairman [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross						84,170
Restricted Stock or Unit Expense							$ 68,000		$ 69,000		$ 205,000	$ 110,000
Jawahar Tandon [Member] \| Restricted Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized							125,000				125,000
Share-based Compensation							$ 563,000
Common Stock Purchase Rights Offering [Member]
Class of Stock [Line Items]
Common Unit, Issued									78,800	78,800		78,800				108,138
Sale of Stock, Price Per Share																$ 44.55
Stock Issued During Period, Shares, New Issues										236,403
Proceeds from Issuance of Common Stock										$ 2,969,000
Chief Executive Officer [Member]
Class of Stock [Line Items]
Warrants Issued During Period Value						$ 191,289
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						156,000
Class of Warrant or Right, Outstanding							325,093				325,093		325,093
Unexercised Warrant Expiry Period						2016 to 2019

XML 39 R29.htm IDEA: XBRL DOCUMENT

STOCK OPTIONS (Details) - $ / shares	1 Months Ended	9 Months Ended	12 Months Ended
STOCK OPTIONS (Details) - $ / shares	May 08, 2015	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted	71,040	124,645
Exercise Price		$ 5.81
Estimated Fair Value of Underlying Stock	$ 5.79	$ 1.70	$ 0.45
May 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		71,040
Exercise Price		$ 29.71
Estimated Fair Value of Underlying Stock		$ 5.79
July 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		86,502
Exercise Price		$ 4.50
Estimated Fair Value of Underlying Stock		$ 4.50
August 2016 One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		6,004
Exercise Price		$ 5.00
Estimated Fair Value of Underlying Stock		$ 3.00
August 2016 Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		7,230
Exercise Price		$ 7.00
Estimated Fair Value of Underlying Stock		$ 3.00
August 2016 Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		9,986
Exercise Price		$ 9.00
Estimated Fair Value of Underlying Stock		$ 3.00
August 2016 Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options Granted		14,923
Exercise Price		$ 11.00
Estimated Fair Value of Underlying Stock		$ 3.00

XML 40 R30.htm IDEA: XBRL DOCUMENT

STOCK OPTIONS (Details 1) - $ / shares	1 Months Ended	9 Months Ended	12 Months Ended
STOCK OPTIONS (Details 1) - $ / shares	May 08, 2015	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of options granted	$ 5.79	$ 1.70	$ 0.45
Risk-free interest rate			1.89%
Volatility		45.40%	45.40%
Dividend yield		0.00%	0.00%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)		10 years	6 years 3 months
Risk-free interest rate		1.51%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)		6 years	6 years
Risk-free interest rate		1.21%

XML 41 R31.htm IDEA: XBRL DOCUMENT

STOCK OPTIONS (Details 2) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	May 08, 2015	Sep. 30, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options outstanding, Beginning		71,040
Number of Options, Granted	71,040	124,645
Number of Options, Forfeited		(60,940)
Number of Options outstanding, Ending		134,745	71,040
Weighted Average Exercise Price, Beginning		$ 29.71
Weighted Average Exercise Price, Granted		5.81
Weighted Average Exercise Price, Forfeited		0
Weighted Average Exercise Price, Ending		$ 7.60	$ 29.71
Weighted Average Remaining Contract Term		9 years 9 months	9 years 6 months
Aggregate Intrinsic Value End of the Period		$ 0	$ 0
Weighted Average Remaining Contract Term, Granted		9 years 9 months 29 days

XML 42 R32.htm IDEA: XBRL DOCUMENT

STOCK OPTIONS (Details Textual) - USD ($)	1 Months Ended			3 Months Ended		6 Months Ended	9 Months Ended	12 Months Ended
STOCK OPTIONS (Details Textual) - USD ($)	Aug. 31, 2016	Nov. 30, 2015	May 08, 2015	Sep. 30, 2016	Jun. 30, 2016	Jun. 30, 2016	Sep. 30, 2016	Dec. 31, 2015	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		370,350							101,005
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized		269,345
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number				134,745			134,745	71,040
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period							60,940
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures							$ 0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				$ 197,000			$ 197,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition							45 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value			$ 5.79				$ 1.70	$ 0.45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			71,040				124,645
Restricted Stock or Unit Expense				80,000			$ 28,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price							$ 5.81
Omnibus Incentive Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock or Unit Expense				21,000
Omnibus Incentive Plan 2012 [Member] \| Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				$ 164,000			$ 164,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				45 months
Stock or Unit Option Plan Expense				$ 12,000
David Olert [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures							$ 25,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross							16,834
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price							$ 4.50
Vivek Tondon [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures							$ 25,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross							18,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price							$ 4.50
Marc Matejka [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures							$ 25,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross							18,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price							$ 4.50
Neal Bobrick [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					33,668		33,668
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price							$ 4.50
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	545,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				194,000			$ 194,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition							27 months
Restricted Stock [Member] \| Omnibus Incentive Plan 2012 [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				$ 601,000			$ 601,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition							45 months
Restricted Stock [Member] \| Director [Member] \| Omnibus Incentive Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period							10,000
Restricted Stock [Member] \| Neal Bobrick [Member] \| Omnibus Incentive Plan 2012 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period							36,332
President and Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures						$ 13,467
Investor [Member] \| Omnibus Incentive Plan 2012 [Member] \| Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 32,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	38,143
Stock or Unit Option Plan Expense	$ 2,000

XML 43 R33.htm IDEA: XBRL DOCUMENT

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	1 Months Ended	6 Months Ended	9 Months Ended
RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	Sep. 30, 2015	Jun. 30, 2016	Sep. 30, 2016	Jul. 13, 2016	Mar. 07, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					15.00%
Shares Issued, Price Per Share	$ 4.50			$ 4.50
Due to Related Parties, Current			$ 0			$ 510,000
Tandon Enterprises, Inc. [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt			$ 24,000
Due to Related Parties, Current		$ 346,100
Debt Conversion, Converted Instrument, Shares Issued		76,911
President and Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Proceeds from Related Party Debt	$ 100,000
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Debt Conversion, Converted Instrument, Warrants or Options Issued	33,333
Due to Related Parties, Current	$ 50,000
Debt Conversion, Converted Instrument, Shares Issued	33,333

XML 44 R34.htm IDEA: XBRL DOCUMENT

INCOME TAXES (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
INCOME TAXES (Details Textual) - USD ($)	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Taxes [Line Items]
Deferred Tax Assets Valuation Allowance Percentage			100.00%
Operating Loss Carryforwards, Expiration Period			Net operating loss carryforwards expire between the years 2029 and 2035.
Effective Income Tax Rate Reconciliation, Percent			40.00%
Income Tax Expense (Benefit)	$ 2,000	$ 1,000	$ 2,000	$ 1,000
State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Income Tax Expense (Benefit)			$ 2,000	$ 1,000

XML 45 R35.htm IDEA: XBRL DOCUMENT

CUSTOMER AND VENDOR CONCENTRATIONS (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Concentration Risk [Line Items]
Accounts Payable, Current	$ 388,000		$ 1,021,000
Accounts Receivable, Net, Current	928,000		$ 644,000
Customer One [Member]
Concentration Risk [Line Items]
Accounts Receivable, Net, Current	684,000
Three Vendors [Member]
Concentration Risk [Line Items]
Accounts Payable, Current	$ 21,000
Three Vendors [Member] \| Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	95.00%
Sales Revenue, Net [Member] \| Customer One [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	42.00%
Sales Revenue, Net [Member] \| Customer Three [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		69.00%
Sales Revenue, Net [Member] \| Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		10.00%
Four Vendors [Member] \| Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		69.00%

XML 46 R36.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES (Details Textual)		1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details Textual)	Mar. 09, 2015 USD ($)	Oct. 26, 2016 USD ($)	Aug. 28, 2015 USD ($)	Aug. 18, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2012 USD ($)	Dec. 31, 2015 USD ($)	Jul. 31, 2015 USD ($)
Commitments And Contingencies [Line Items]
Minimum royalty payments, Years Three through Six											$ 50,000
Minimum royalty payments, Years Seven through Ten											125,000
Minimum royalty payments, Eleven through Fifteen											187,500
Minimum royalty payments, Years Sixteen through Twenty-five											$ 250,000
Royalty rate									2.00%	4.00%
Cost Of Parts			$ 678,669
Incidental Expenses			$ 35,000
Royalty Expense					$ 125,000	$ 44,000	$ 246,000	$ 112,000
Operating Lease, Monthly Rental Payments							13,850
Other Commitment													$ 835,000
Accounts Payable, Current					388,000		$ 388,000					$ 1,021,000
Other Commitments, Description							Under the terms of the agreement, there is no interest and the Company will make 12 monthly payments of $65,000 beginning in August 2015, and one final payment of $65,000 in August 2016.
Lessee Leasing Arrangements Operating Leases Date							Jan. 31, 2018
Number of specially constructed computer components			219,200
Memphis Electronics, Inc. [Member]
Commitments And Contingencies [Line Items]
Loss Contingency, Damages Sought, Value	$ 275,000
Litigation Settlement, Amount	$ 170,000
Phison Electronics Corp. [Member]
Commitments And Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				$ 585,000
Unigen Corporation [Member]
Commitments And Contingencies [Line Items]
Loss Contingency, Damages Sought, Value			$ 180,000
Unigen Corporation [Member] \| Subsequent Event [Member]
Commitments And Contingencies [Line Items]
Litigation Settlement, Amount		$ 225,000
Other Commitments [Member]
Commitments And Contingencies [Line Items]
Accounts Payable, Current					$ 445,000		$ 445,000
Trademarks [Member]
Commitments And Contingencies [Line Items]
Finite Lived Intangible Asset Expiration Date											Jul. 07, 2035
Finite-Lived Intangible Asset, Useful Life											25 years

EXCEL 47 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 51 FilingSummary.xml IDEA: XBRL DOCUMENT 3.5.0.2 html 136 243 1 false 56 0 false 4 false false R1.htm 101 - Document - Document And Entity Information Sheet http://monsterdigital.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 102 - Statement - CONSOLIDATED BALANCE SHEETS Sheet http://monsterdigital.com/role/ConsolidatedBalanceSheets CONSOLIDATED BALANCE SHEETS Statements 2 false false R3.htm 103 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://monsterdigital.com/role/ConsolidatedBalanceSheetsParenthetical CONSOLIDATED BALANCE SHEETS (Parenthetical) Statements 3 false false R4.htm 104 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://monsterdigital.com/role/ConsolidatedStatementsOfOperations CONSOLIDATED STATEMENTS OF OPERATIONS Statements 4 false false R5.htm 105 - Statement - CONSOLIDATED STATEMENT OF SHAREHOLDERS??? EQUITY (DEFICIT) Sheet http://monsterdigital.com/role/ConsolidatedStatementOfShareholdersEquityDeficit CONSOLIDATED STATEMENT OF SHAREHOLDERS??? EQUITY (DEFICIT) Statements 5 false false R6.htm 106 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://monsterdigital.com/role/ConsolidatedStatementsOfCashFlows CONSOLIDATED STATEMENTS OF CASH FLOWS Statements 6 false false R7.htm 107 - Disclosure - BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Sheet http://monsterdigital.com/role/BusinessActivityAndSummaryOfSignificantAccountingPolicies BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Notes 7 false false R8.htm 108 - Disclosure - GOING CONCERN Sheet http://monsterdigital.com/role/GoingConcern GOING CONCERN Notes 8 false false R9.htm 109 - Disclosure - DEBT AND EQUITY FINANCING Sheet http://monsterdigital.com/role/DebtAndEquityFinancing DEBT AND EQUITY FINANCING Notes 9 false false R10.htm 110 - Disclosure - ACCRUED EXPENSES Sheet http://monsterdigital.com/role/AccruedExpenses ACCRUED EXPENSES Notes 10 false false R11.htm 111 - Disclosure - STOCKHOLDERS' EQUITY Sheet http://monsterdigital.com/role/StockholdersEquity STOCKHOLDERS' EQUITY Notes 11 false false R12.htm 112 - Disclosure - STOCK OPTIONS Sheet http://monsterdigital.com/role/StockOptions STOCK OPTIONS Notes 12 false false R13.htm 113 - Disclosure - RELATED PARTY TRANSACTIONS Sheet http://monsterdigital.com/role/RelatedPartyTransactions RELATED PARTY TRANSACTIONS Notes 13 false false R14.htm 114 - Disclosure - INCOME TAXES Sheet http://monsterdigital.com/role/IncomeTaxes INCOME TAXES Notes 14 false false R15.htm 115 - Disclosure - CUSTOMER AND VENDOR CONCENTRATIONS Sheet http://monsterdigital.com/role/CustomerAndVendorConcentrations CUSTOMER AND VENDOR CONCENTRATIONS Notes 15 false false R16.htm 116 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://monsterdigital.com/role/CommitmentsAndContingencies COMMITMENTS AND CONTINGENCIES Notes 16 false false R17.htm 117 - Disclosure - BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Sheet http://monsterdigital.com/role/BusinessActivityAndSummaryOfSignificantAccountingPoliciesPolicies BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Policies 17 false false R18.htm 118 - Disclosure - DEBT AND EQUITY FINANCING (Tables) Sheet http://monsterdigital.com/role/DebtAndEquityFinancingTables DEBT AND EQUITY FINANCING (Tables) Tables http://monsterdigital.com/role/DebtAndEquityFinancing 18 false false R19.htm 119 - Disclosure - ACCRUED EXPENSES (Tables) Sheet http://monsterdigital.com/role/AccruedExpensesTables ACCRUED EXPENSES (Tables) Tables http://monsterdigital.com/role/AccruedExpenses 19 false false R20.htm 120 - Disclosure - STOCKHOLDERS' EQUITY (Tables) Sheet http://monsterdigital.com/role/StockholdersEquityTables STOCKHOLDERS' EQUITY (Tables) Tables http://monsterdigital.com/role/StockholdersEquity 20 false false R21.htm 121 - Disclosure - STOCK OPTIONS (Tables) Sheet http://monsterdigital.com/role/StockOptionsTables STOCK OPTIONS (Tables) Tables http://monsterdigital.com/role/StockOptions 21 false false R22.htm 122 - Disclosure - BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) Sheet http://monsterdigital.com/role/BusinessActivityAndSummaryOfSignificantAccountingPoliciesDetailsTextual BUSINESS ACTIVITY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) Details http://monsterdigital.com/role/BusinessActivityAndSummaryOfSignificantAccountingPoliciesPolicies 22 false false R23.htm 123 - Disclosure - GOING CONCERN (Details Textual) Sheet http://monsterdigital.com/role/GoingConcernDetailsTextual GOING CONCERN (Details Textual) Details http://monsterdigital.com/role/GoingConcern 23 false false R24.htm 124 - Disclosure - DEBT AND EQUITY FINANCING (Details) Sheet http://monsterdigital.com/role/DebtAndEquityFinancingDetails DEBT AND EQUITY FINANCING (Details) Details http://monsterdigital.com/role/DebtAndEquityFinancingTables 24 false false R25.htm 125 - Disclosure - DEBT AND EQUITY FINANCING (Details Textual) Sheet http://monsterdigital.com/role/DebtAndEquityFinancingDetailsTextual DEBT AND EQUITY FINANCING (Details Textual) Details http://monsterdigital.com/role/DebtAndEquityFinancingTables 25 false false R26.htm 126 - Disclosure - ACCRUED EXPENSES (Details) Sheet http://monsterdigital.com/role/AccruedExpensesDetails ACCRUED EXPENSES (Details) Details http://monsterdigital.com/role/AccruedExpensesTables 26 false false R27.htm 127 - Disclosure - STOCKHOLDERS' EQUITY (Details) Sheet http://monsterdigital.com/role/StockholdersEquityDetails STOCKHOLDERS' EQUITY (Details) Details http://monsterdigital.com/role/StockholdersEquityTables 27 false false R28.htm 128 - Disclosure - STOCKHOLDERS' EQUITY (Details Textual) Sheet http://monsterdigital.com/role/StockholdersEquityDetailsTextual STOCKHOLDERS' EQUITY (Details Textual) Details http://monsterdigital.com/role/StockholdersEquityTables 28 false false R29.htm 129 - Disclosure - STOCK OPTIONS (Details) Sheet http://monsterdigital.com/role/StockOptionsDetails STOCK OPTIONS (Details) Details http://monsterdigital.com/role/StockOptionsTables 29 false false R30.htm 130 - Disclosure - STOCK OPTIONS (Details 1) Sheet http://monsterdigital.com/role/StockOptionsDetails1 STOCK OPTIONS (Details 1) Details http://monsterdigital.com/role/StockOptionsTables 30 false false R31.htm 131 - Disclosure - STOCK OPTIONS (Details 2) Sheet http://monsterdigital.com/role/StockOptionsDetails2 STOCK OPTIONS (Details 2) Details http://monsterdigital.com/role/StockOptionsTables 31 false false R32.htm 132 - Disclosure - STOCK OPTIONS (Details Textual) Sheet http://monsterdigital.com/role/StockOptionsDetailsTextual STOCK OPTIONS (Details Textual) Details http://monsterdigital.com/role/StockOptionsTables 32 false false R33.htm 133 - Disclosure - RELATED PARTY TRANSACTIONS (Details Textual) Sheet http://monsterdigital.com/role/RelatedPartyTransactionsDetailsTextual RELATED PARTY TRANSACTIONS (Details Textual) Details http://monsterdigital.com/role/RelatedPartyTransactions 33 false false R34.htm 134 - Disclosure - INCOME TAXES (Details Textual) Sheet http://monsterdigital.com/role/IncomeTaxesDetailsTextual INCOME TAXES (Details Textual) Details http://monsterdigital.com/role/IncomeTaxes 34 false false R35.htm 135 - Disclosure - CUSTOMER AND VENDOR CONCENTRATIONS (Details Textual) Sheet http://monsterdigital.com/role/CustomerAndVendorConcentrationsDetailsTextual CUSTOMER AND VENDOR CONCENTRATIONS (Details Textual) Details http://monsterdigital.com/role/CustomerAndVendorConcentrations 35 false false R36.htm 136 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details Textual) Sheet http://monsterdigital.com/role/CommitmentsAndContingenciesDetailsTextual COMMITMENTS AND CONTINGENCIES (Details Textual) Details http://monsterdigital.com/role/CommitmentsAndContingencies 36 false false All Reports Book All Reports msdi-20160930.xml msdi-20160930.xsd msdi-20160930_cal.xml msdi-20160930_def.xml msdi-20160930_lab.xml msdi-20160930_pre.xml true true ZIP 53 0001144204-16-134884-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144204-16-134884-xbrl.zip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end