Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

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

The fair value of the stock options granted during the three month period ended March 31, 2016, was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:



	Three Months Ended March 31,
	2016
Expected life (years)	4.67
Expected volatility	82.8%
Expected dividend yield	—%
Risk-free interest rate	1.7%
Weighted average fair value of options granted during the period	$0.10

Schedule of Stock Option Activity

The following table summarizes stock option activity for the three month period ended March 31, 2016:



	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, 2015	4,398,700		$	0.43
Granted	800,000		0.15
Exercised	—		—
Forfeited and Expired	(165,000	)	0.59
Outstanding balance at March 31, 2016	5,033,700		0.38		8.41	$0
Options exercisable at March 31, 2016	2,104,389		$	0.51	7.44	$0