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Stockholders' Equity
 12 Months Ended
Dec. 31, 2016
Stockholders' Equity [Abstract]  
Stockholders' Equity

Note 7---Stockholders' Equity



 Convertible Preferred Stock



As of December 31, 2016, there were no outstanding shares of convertible preferred stock.  Our Board of Directors and our stockholders have authorized 1,000,000 shares of convertible preferred stock that are available for issuance.



Common Stock

 

As of December 31, 2016, we had reserved 385,666 common shares for future issuance upon the exercise of stock options.





 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31, 2016

 



 

 

 

 

Weighted-

 

Weighted-

 

 

 

 



 

 

 

 

Average

 

Average

 

 

 

 



 

 

 

 

Exercise

 

Remaining

 

Aggregate

 



 

 

Options

 

Price

 

Contractual

 

Intrinsic

 



 

 

(000's)

 

Per Share

 

Term (Years)

 

Value

 

Outstanding at beginning of year

 

 

 734 

 

$

 9.06 

 

 

 

 

 

 

 

Granted

 

 

 10 

 

$

 4.70 

 

 

 

 

 

 

 

Exercised

 

 

 (2)

 

$

 6.01 

 

 

 

 

$

 -

 

Forfeited

 

 

 (45)

 

$

 6.76 

 

 

 

 

 

 

 

Expired

 

 

 (30)

 

$

 9.96 

 

 

 

 

 

 

 

Outstanding at end of year

 

 

 667 

 

$

 9.12 

 

 

 6.71 

 

$

 -

 

Options exercisable at end of year

 

 

 481 

 

$

 9.87 

 

 

 6.31 

 

$

 -

 

Options vested and expected to vest at end of year

 

 

 635 

 

$

 9.25 

 

 

 0.20 

 

$

 -

 

 

The weighted-average fair market value per share of options granted under our stock option plans during fiscal 2016 and 2015 was $2.90 and $3.20, respectively.



We granted 16,965 shares of restricted stock to the non-employee members of our Board of Directors and Board of Directors’ advisor in 2016 and recorded a stock-based compensation expense of $92,000.  We granted 10,832 shares of restricted stock to the non-employee members of our Board of Directors in 2015, and recorded a stock-based compensation expense of $63,000. The restricted stock of our Board of Directors will vest over a one-year period measured from the date of the annual meeting of stockholders with one quarter of the shares included in such Director Grant vesting on each of the dates that are three months, six months, nine months and twelve months from the annual meeting, so long as each board member continues to serve as a member of our board of directors on such vesting date. 

 





As of December 31, 2016, total unrecognized compensation cost related to unvested stock options was $732,000, which is expected to be recognized over the remaining weighted-average vesting periods of 1 year. During the year ended December 31, 2016 and 2015, we have received cash of $192,000 and $275,000, respectively from the employee stock purchases and exercise of stock options.