SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2016

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

10.    SUBSEQUENT EVENTS

On November 1, 2016, the Compensation and Benefits Committee approved a grant of a stock option to the chief executive officer for the purchase of 3,000,000 shares of Common Stock, not pursuant to any existing stock option plan, which will require shareholder approval prior to effectiveness.  The total value of this option using the Black Scholes Option Pricing Model using a risk-free rate of 1.84% and a volatility factor of 66.9% is $5.9 million.