Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2017

Shareholders' Equity [Abstract]

Weighted-average Assumptions used to Value the Options Granted

We used the following weighted-average assumptions to value the options granted during the three months ended March 31:

	2016
Expected life in years		3.00
Risk-free interest rate		1.3	%
Expected volatility		60.00	%
Expected dividend yield		0	%
Weighted-average grant date fair value	$	0.49

Stock Option Activity

The following table summarizes the activity related to our stock options during the three months ended March 31, 2017:

	Number of shares			Weighted average exercise price		Weighted average remaining life in years		Aggregate intrinsic value
Outstanding at December 31, 2016		1,680,990		$	3.54		6.55	$	752,290
Options granted		-			-		-		-
Options exercised		(2,411	)		-		-		-
Options surrendered		(24,749	)	$	9.62		-		-
Outstanding at March 31, 2017		1,653,830		$	3.46		6.41	$	554,695
Exercisable at March 31, 2017		788,655		$	5.91		3.63	$	16,309

Restricted Shares Activity

The following table summarizes the activity related to our restricted shares during the three months ended March 31, 2017:

	Number of Shares			Weighted average grant date fair value		Weighted average remaining life in years		Aggregate intrinsic value
Balance at December 31, 2016		992,548		$	1.30		1.35	$	1,995,021
Shares granted		-			-		-
Shares vested		(402,147	)		1.10		-	$	723,865
Shares surrendered		-			-
Balance at March 31, 2017		590,401		$	1.44		1.63	$	1,062,722