Stock Options (Tables)

12 Months Ended

Dec. 31, 2015

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

The following table summarizes stock option activity in the Company’s stock-based compensation plans for the year ended December 31, 2015. All options issued were non-qualified stock options.



	Number of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value (1)		Number of Options Exercisable		Weighted Average Fair Value At Date of Grant
Outstanding at December 31, 2013	150,000		$	0.64	$	—	150,000		$	0.64
Granted at Fair Value	400,000		$	0.33	$	—	91,667		$	0.33
Exercised	—		$	—	$	—	—		$	—
Forfeited	(90,000	)	$	0.35	$	—	(67,500	)	$	0.35
Outstanding at December 31, 2014	460,000		$	0.43	$	—	174,167		$	0.59
Granted at Fair Value	1,000,000		$	0.27	$	—	483,333		$	0.27
Exercised	—		$	—	$	—	—		$	—
Cancelled	(30,000	)	$	0.50	$	—	(30,000	)	$	0.50
Outstanding at December 31, 2015	1,430,000		$	0.31	$	—	627,500		$	0.34


(1)	The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option at December 31, 2015. If the exercise price exceeds the market value, there is no intrinsic value.

Schedule of stock option fair value assumptions

The following assumptions were used to compute the weighted average fair value of options granted during the periods presented.



	2015		2014
Expected term of option	3 years		3 years
Risk free interest rates	1.52	%	0.8	%
Estimated volatility	606.3		629.8 - 785.7
Dividend yield	—	%	—	%

Information about stock options

The following table summarizes information about stock options outstanding at December 31, 2015:



Range of Exercise Prices	Number of Options	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (1)		Number Exercisable	Weighted Average Exercise Price of Exercisable Options		Aggregate Intrinsic Value (1)
$0.27 - $1.00	1,430,000	2.13	$	0.31	$	—	750,833	$	0.34	$	—


(1)	The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option at December 31, 2013. If the exercise price exceeds the market value, there is no intrinsic value.

The following table summarizes information about options outstanding at December 31, 2014:



Range of Exercise Prices	Number of Options	Weighted Average Remaining Contractual Life (Years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (1)		Number Exercisable	Weighted Average Exercise Price of Exercisable Options		Aggregate Intrinsic Value
$0.27 - 1.00	460,000	2.28	$	0.43	$	—	241,667	$	0.59	$	—

Schedule of nonvested restricted stock units activity

A summary of the Company’s non-vested stock options at December 31, 2015 and December 31, 2014 and changes during the years are presented below.



Non-Vested Stock Options	Options		Weighted Average Grant Date Fair Value
Non-Vested at December 31, 2014	285,833		$	0.33
Granted	1,000,000		$	0.27
Vested	(576,667	)	$	0.34
Forfeited	(30,000	)	$	—
Non-Vested at December 31, 2015	679,166		$	0.28