Annual report pursuant to Section 13 and 15(d)

STOCK OPTION PLANS (Tables)

v3.3.1.900
STOCK OPTION PLANS (Tables)
 12 Months Ended
Dec. 31, 2015
2015 Equity Incentive Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summarized information of stock options

Summarized information for the 2015 Equity Incentive Plan is as follows:

 

          Weighted-  
          average  
          exercise  
    Options     price  
Outstanding options at January 1, 2015     -     $ -  
Granted, fair value of $5.18 per share     1,994,000       6.90  
Outstanding options at December 31, 2015     1,994,000       6.90  
                 
Exercisable at December 31, 2015     35,000       7.34  
Information regarding options outstanding by range of exercise prices

Further information regarding options outstanding under the 2015 Equity Incentive Plan at December 31, 2015 is summarized below:

 

    Number of     Weighted average     Number of     Weighted-average  
    options     Remaining     Exercise     options     Remaining     Exercise  
Range of exercise prices   outstanding     life in years     price     exercisable     life in years     price  
                                                 
$4.38 - 7.34     1,994,000       9.0     $ 6.90       35,000       9.0     $ 7.34  
2005 Equity Incentive Plan [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summarized information of stock options

Summarized information for the 2005 Equity Incentive Plan is as follows:

 

        Weighted-  
        average  
        exercise  
    Options     price  
Outstanding options at January 1, 2014     28,784     $ 59.00  
Granted, fair value of $14.50 per share     212,500       18.50  
Expired/forfeited     (31,200 )     37.61  
Outstanding options at December 31, 2014     210,084       20.19  
                 
Granted, fair value of $4.52     120,000       3.25  
Outstanding options at December 31, 2015     330,084       13.49  
                 
Exercisable at December 31, 2015     319,884       15.02  
Information regarding options outstanding by range of exercise prices

Further information regarding options outstanding under the 2005 Equity Incentive Plan at December 31, 2015 is summarized below:

 

    Number of     Weighted average     Number of     Weighted-average  
    options     Remaining     Exercise     options     Remaining     Exercise  
Range of exercise prices   outstanding     life in years     price     exercisable     life in years     price  
                                     
$3.25     120,000       4.0     $ 3.25       110,000       4.0     $ 3.25  
$11.50 - 18.50     200,000       7.7     $ 18.33       199,800       7.7     $ 18.32  
$30.50 - 42.50     4,000       4.1     $ 32.19       4,000       4.1     $ 32.19  
$69.00     1,400       4.0     $ 69.00       1,400       4.0     $ 69.00  
$113.50 – 157.50     4,684       5.0     $ 119.99       4,684       5.0     $ 119.99  
      330,084               319,884