STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2018

The fair values of stock options granted for the years were estimated using the following assumptions:



	Option Grants Awarded During the Year Ended December 31, 2017	Option Grants Awarded During the Year Ended December 31, 2018
Stock Price	$4.36 - $7.80	$1.80 - $5.96
Dividend Yield	0%	0%
Expected Volatility	60.0%	70.0%
Risk-free interest rate	1.95% - 2.37%	2.50% - 3.09%
Expected Term	7 to 10 years	7 years

The following is a summary of our stock option activity during the year ended December 31, 2017:



	Number of Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life In Years
Outstanding, January 1, 2017	801,690		$	5.25	$	3.32	7.40
Granted	488,300		4.62		2.79		9.51
Exercised	(32,928	)	2.37		1.41		—
Canceled/Forfeited	(174,572	)	6.40		4.18		—
Outstanding, December 31, 2017	1,082,490		$	4.87	$	3.00	8.38



	Number of Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life In Years
Exercisable, January 1, 2017	419,174		$	5.94	$	3.86	6.00
Vested	457,338		4.57		2.77		8.65
Exercised	(32,928	)	2.37		1.41		—
Canceled/Forfeited	(139,281	)	6.65		4.38		—
Exercisable, December 31, 2017	704,303		$	5.08	$	3.17	8.15

The following is a summary of our stock option activity during the year ended December 31, 2018:



	Number of Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life In Years
Outstanding, January 1, 2018	1,082,490		$	4.87	$	3.00	8.38
Granted	252,500		4.54		3.09		9.16
Exercised	(4,692	)	2.10		1.75		—
Canceled/Forfeited	(75,018	)	4.72		2.89		—
Outstanding, December 31, 2018	1,255,280		$	4.82	$	3.03	7.75



	Number of Options		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Life In Years
Exercisable, January 1, 2018	704,303		$	5.08	$	3.17	8.15
Vested	161,404		4.69		2.89		7.56
Exercised	(4,692	)	2.10		1.75		—
Canceled/Forfeited	(17,996	)	4.72		2.84		—
Exercisable, December 31, 2018	843,019		$	5.02	$	3.13	7.23

The following table presents information related to stock options outstanding and exercisable at December 31, 2018:



Options Outstanding		Options Exercisable
Exercise Price	Outstanding Number of Options	Weighted Average Remaining Life In Years	Exercisable Number of Options
$1.80 - $2.00	161,183	7.09	99,637
$3.25 - $4.92	652,297	8.41	393,944
$5.01 - $6.00	281,500	5.87	214,115
$6.18 – $7.20	70,000	5.97	55,004
$7.54 – $7.80	67,800	6.09	58,749
$8.06 - $12.98	22,500	6.05	21,570
	1,255,280	7.23	843,019

A summary of restricted stock unit activity for the year ended December 31, 2017 is as follows:



	Number of Restricted Share Units		Weighted-Average Grant-Date Fair Value Per Share
Outstanding at January 1, 2017	1,455,558		$	3.64
Granted	722,400		5.37
Vested	(649,359	)	4.26
Forfeited	(51,741	)	5.40
Outstanding at December 31, 2017	1,476,858		$	4.96

A summary of restricted stock unit activity for the year ended December 31, 2018 is as follows:



	Number of Restricted Share Units		Weighted-Average Grant-Date Fair Value Per Share
Outstanding at January 1, 2018	1,476,858		$	4.96
Granted	1,661,750		4.60
Vested	(1,051,939	)	4.68
Forfeited	(165,075	)	5.17
Outstanding at December 31, 2018	1,921,594		$	4.78

Total stock-based compensation recorded in the consolidated statements of comprehensive loss is allocated as follows:



	Year Ended December 31, 2017		Year Ended December 31, 2018
Research and development
Employees	$	1,937,000	$	2,479,000
Non-employees	181,000		77,000
Total research and development	2,118,000		2,556,000

Sales, marketing and administration
Employees and directors	1,824,000		2,604,000
Non-employees	179,000		102,000
Total sales, marketing and administration	2,003,000		2,706,000

Total stock-based compensation	$	4,121,000	$	5,262,000