Stockholders' Deficit (Tables)

9 Months Ended

Sep. 30, 2016

The fair value of all options granted during the three and nine months ending September 30, 2016, was determined using the following assumptions:


Expected volatility		90	%
Risk free interest rate		1.75	%
Expected term (years)		3.0
Dividend yield		0	%
Estimated grant date fair value	$	0.35

Stock option activity is as follows:


	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Fair Value
Outstanding December 31, 2015		2,137,000		$	2.53		.75 Years	$	5,406,610
Granted		200,000		$	0.60
Exercised		—			—
Forfeited		(169,000	)	$	2.77
Expired		(330,000	)	$	2.68

Outstanding September 30, 2016		1,838,000		$	2.27		1.48 Years	$	4,172,260
Exercisable at September 30, 2016		1,589,500		$	2.46			$	3,814,800
Unvested at September 30, 2016		248,500