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Stock-based Compensation, Option Plans and Warrants (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted Average Assumptions Used in Calculating Fair Value of Options
The Company utilizes a standard option pricing model (Black-Scholes) to measure the fair value of stock options granted to employees and directors. The fair value for these options was estimated at the date of grant using the following weighted average assumptions for 2014, 2015 and 2016:
 
 
2014
 
2015
 
2016
Weighted average value per option granted during the period
 
$
2.44

 
$
2.37

 
$
0.68

Assumptions:
 
 

 
 

 
 

Forfeiture rate (1)
 
4.2
%
 
4.5
%
 
4.2
%
Expected dividend yield (2)
 
—
%
 
—
%
 
—
%
Volatility (3)
 
80.7
%
 
81.1
%
 
71.1
%
Risk free interest rate (4)
 
2.05
%
 
1.92
%
 
1.72
%
Expected life (years) (5)
 
6.6

 
7.0

 
7.0

Fair value of options granted (in thousands)
 
$
2,666

 
$
3,792

 
$
2,307

______________________
(1)    The estimated future forfeiture rate is based on the Company’s historical forfeiture rate.
(2)    The dividend yield is based on the fact the Company does not pay any dividends.
(3)     The volatility is based on the historical volatility of our stock for a period approximating the expected life.
(4)
The risk-free interest rate is based on the observed U.S. Treasury yield curve in effect at the time the options were granted.
(5)
The expected life was derived based on a weighting between (a) the Company’s historical exercise and forfeiture activity and (b) the average midpoint between vesting and the contractual term.
Schedule of Stock Option Activity
The following table is a summary of the Company’s stock option activity for the three years ended December 31:

 
 
Options
(000s)
 
Weighted average
exercise price
 
Weighted
 average
 remaining life
 
 
Intrinsic
value
per share
Options outstanding December 31, 2013
 
5,400

 
$
2.77

 
 
 
 
 
 
 
 
 
 
 
 
 
Granted                                                        
 
1,091

 
3.38

 
 
 
 
Exercised
 
(410
)
 
2.71

 
 
 
 
Forfeited/Expired
 
(196
)
 
3.08

 
 
 
 
Options outstanding December 31, 2014
 
5,885

 
$
2.88

 
 
 
 
 
 
 
 
 
 
 
 
 
Granted                                                        
 
1,601

 
3.22

 
 
 
 
Exercised
 
(164
)
 
1.03

 
 
 
 
Forfeited/Expired
 
(514
)
 
4.36

 
 
 
 
Options outstanding December 31, 2015
 
6,808

 
$
2.89

 
 
 
 
 
 
 
 
 
 
 
 
 
Granted                                                        
 
2,265

 
1.02

 
 
 
 
Exercised
 
(83
)
 
1.40

 
 
 
 
Forfeited/Expired
 
(836
)
 
2.84

 
 
 
 
Options outstanding December 31, 2016
 
8,154

 
$
2.39

 
6.39
 
1.70

Exercisable at end of year
 
4,808

 


 
4.90
 
1.93


Other information pertaining to the Company’s stock option activity for the three years ended December 31:
  
 
2014
 
2015
 
2016
Weighted average grant date fair value of stock options granted  (per share)
 
$
2.44

 
$
2.37

 
$
0.68

Total fair value of options vested (000’s)
 
$
1,718

 
$
2,035

 
$
2,776

Total intrinsic value of options exercised (000’s)
 
$
932

 
$
124

 
$
39
Range Of Stock Option Prices and Weighted Average Remaining Life of Outstanding Options
The following table represents the range of stock option prices and the weighted average remaining life of outstanding options as of December 31, 2016:
 
 
Options outstanding
 
Exercisable
 
 
 
Number
outstanding
 
Weighted
average
remaining
life
 
Weighted
average
exercise
price
 
 
Number
exercisable
 
Weighted
average
remaining
life
 
Weighted
average
exercise
price
0.97 - 1.99
 
3,462,042

 
6.7
 
$
1.23

 
1,595,042

 
3.8
 
$
1.52

2.00 - 2.99
 
1,240,350

 
5.2
 
$
2.35

 
1,102,063

 
5.0
 
$
2.35

3.00 - 3.99
 
2,765,633

 
7.0
 
$
3.29

 
1,438,408

 
6.3
 
$
3.41

4.00 - 4.99
 
585,750

 
3.6
 
$
4.56

 
574,750

 
3.6
 
$
4.56

5.00 - 5.99
 
99,000

 
7.4
 
$
5.39

 
97,500

 
7.4
 
$
5.38

6.00 - 6.28
 
1,000

 
7.5
 
$
6.28

 
500

 
7.5
 
$
6.28

 
 
8,153,775

 
 
 
 

 
4,808,263

 
 
 
 
Schedule of Restricted Stock Activity
The following table is a summary of the Company’s restricted stock activity for the three years ended December 31, 2016:
 
 
Number
of
Shares
 
Weighted
average
grant date
fair value
Unvested December 31, 2013
 
355,240

 
$
3.24

Granted
 
1,582,000

 
3.49

Vested/Released
 
(121,622
)
 
3.64

Forfeited
 
(39,528
)
 
3.44

Unvested December 31, 2014
 
1,776,090

 
$
3.43

Granted
 
—

 
—

Vested/Released
 
(127,729
)
 
3.38

Forfeited
 
(5,077
)
 
2.56

Unvested December 31, 2015
 
1,643,284

 
$
3.44

Granted
 
—

 
—

Vested/Released
 
(52,017
)
 
2.40

Forfeited
 
(98,802
)
 
3.63

Unvested December 31, 2016
 
1,492,465

 
$
3.47