Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of each stock option granted during the year was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:



	2015		2014		2013
Expected life (years)	4.9		5.3		5.4
Expected volatility	68.9	%	82.9	%	89.6	%
Expected dividend yield	—		—		—
Risk-free interest rate	1.7	%	1.8	%	1.5	%
Weighted average fair value of options granted during the year	$0.18		$0.39		$0.34

Schedule of Share-based Compensation, Stock Options, Activity

The following table summarizes stock option activity for the year ended December 31, 2015:



				Weighted
			Weighted Average	Average Remaining	Aggregate Intrinsic
	Number of Shares		Exercise Price Per Share	Contractual Life (years)	Value (in thousands)
Outstanding at December 31, 2014	3,652,200		$0.67
Granted	2,050,000		$0.32
Exercised	(50,000	)	0.45
Forfeited and Expired	(1,253,500	)	$0.94
Outstanding at December 31, 2015	4,398,700		$0.43	8.3	$0
Exercisable at December 31, 2015	1,905,721		$0.53	7.4	$0