Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

v3.7.0.1
Stock Options (Tables)
3 Months Ended
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Assumptions Used Principally in Determining Fair Value of Options Granted

The assumptions used principally in determining the fair value of options granted were as follows:

 

    Three Months Ended March 31,  
    2017     2016  
Risk free interest rate     2.17 %     1.81 %
Expected dividend yield     0 %     0 %
Expected term in years     6.35       6.28  
Expected volatility     85.8 %     88.3 %
Estimated forfeiture rate     5 %     5 %

Summary of Option Activity

A summary of option activity for the three months ended March 31, 2017 is presented below:

 

                Weighted        
                Average        
                Remaining        
          Weighted     Contractual     Aggregate  
          Average     Term in     Intrinsic  
Options   Shares     Exercise Price     Years     Value  
Outstanding at December 31, 2016     6,610,179     $ 2.54                  
Granted     1,063,500       9.05                  
Exercised     (160,549 )     0.50                  
Forfeited                            
Outstanding at March 31, 2017     7,513,130     $ 3.51       8.31     $ 36,752,235  
Vested at March 31, 2017     3,290,104     $ 1.26       7.36     $ 23,011,278