Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Weighted-average Assumptions used to Value the Options Granted

We used the following weighted-average assumptions to value the options granted during the year ended December 31, 2016 and the nine-month transition period ended December 31, 2015:

	December 31, 2016			December 31, 2015
Expected life, in years		3.90			3.84
Risk-free interest rate		.98	%		1.11	%
Expected volatility		61.86	%		63.9	%
Expected dividend yield		0	%		0	%

Stock Option Activity

The following table summarizes the activity related to our stock options for the year ended December 31, 2016 and the nine-month transition period ended December 31, 2015:

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

Balance at March 31, 2015		2,250,865		$	5.32			$	-		5.06
Options granted		617,914			1.64	$	0.79
Options exercised		-
Options surrendered		(295,139	)		5.08

Balance at December 31, 2015		2,573,640			4.46				-		5.24
Options granted		692,400			1.05		0.49
Options exercised		-
Options surrendered		(1,585,050	)		3.90

Balance at December 31, 2016		1,680,990		$	3.54			$	752,290		6.55

Options exercisable at December 31, 2016		811,015		$	3.80			$	607,800		3.71

Restricted Shares Activity

The following table summarizes the activity related to our restricted stock for the year ended December 31, 2016 and the nine-month transition period ended December 31, 2015:

	Number of Shares			Weighted average grant date fair value		Weighted average remaining life in years		Aggregate intrinsic value

Balance at March 31, 2015		317,741		$	4.47		1.93	$	387,644
Shares granted		513,299			1.62
Shares vested		(122,353	)		4.42				157,835
Shares surrendered		(21,777	)		2.73

Balance at December 31, 2015		686,910			2.41		1.59		886,114
Shares granted		937,858			1.18
Shares vested		(324,521	)		2.19				652,287
Shares surrendered		(307,699	)		2.45

Balance at December 31, 2016		992,548		$	1.30		1.35	$	1,995,021