Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2016

We used the following weighted-average assumptions to value the options granted during the six months ended June 30:

	2016			2015

Expected life in years		3.82			3.84
Risk-free interest rate		0.94	%		1.11	%
Expected volatility		64.32	%		63.94	%
Expected dividend yield		0	%		0	%
Weighted-average grant date fair value	$	0.47		$	0.79

The following table summarizes the activity related to our stock options during the six months ended June 30, 2016:

	Number of shares			Weighted average exercise price		Weighted average remaining life in years		Aggregate intrinsic value

Outstanding at December 31, 2015		2,573,640		$	4.46		5.24	$	-
Options granted		392,400			0.98
Options exercised		-			-
Options surrendered		(795,762	)		3.20

Outstanding at June 30, 2016		2,170,278		$	4.30		4.93	$	-

Exercisable at June 30, 2016		1,569,490		$	5.44		3.21	$	-

The following table summarizes the activity related to our restricted shares during the six months ended June 30, 2016:

	Number of Shares			Weighted average grant date fair value		Weighted average remaining life in years		Aggregate intrinsic value
Balance at December 31, 2015		686,910		$	2.41		1.59	$	886,114
Shares granted		337,858			0.98
Shares vested		(311,503	)		2.11
Shares forfeited		(295,523	)		2.50

Balance at June 30, 2016		417,742		$	1.41		2.23	$	401,032