Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

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

The fair value of the stock options granted during the three and nine month periods ended September 30, 2015, was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:



	Three Months Ended September 30,	Nine Months Ended September 30,
	2015	2015
Expected life (years)	5.04	5.04
Expected volatility	64.6% - 66%	64.1% - 66%
Expected dividend yield	—%	—%
Risk-free interest rate	2.1% - 2.4%	1.4% - 2.4%
Weighted average fair value of options granted during the period	$0.10	$0.23

Schedule of Stock Option Activity

The following table summarizes stock option activity for the nine month period ended September 30, 2015:



	Number of Options		Weighted Average Exercise Price Per Option		Weighted Average remaining Contractual Life (years)	Aggregate Intrinsic Value (in thousands)
Outstanding balance at December 31, 2014	3,652,200		0.67
Granted	1,300,000		0.42
Exercised	(50,000	)	0.45
Forfeited and Expired	(1,203,500	)	0.94
Outstanding balance at September 30, 2015	3,698,700		0.49		8.31	$0
Options exercisable at September 30, 2015	1,806,921		$	0.54	7.61	$0