Annual report pursuant to Section 13 and 15(d)

STOCK OPTION PLANS (Tables)

v3.19.1
STOCK OPTION PLANS (Tables)
 12 Months Ended
Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
We used the following weighted-average assumptions to estimate the fair value of the options granted for the years indicated:
 
 
 
2018
 
2017
 
2016
Expected volatility
 
109%
 
111%
 
109%
Expected term
 
5 years
 
5 years
 
5 years
Risk-free interest rate
 
2.62%
 
1.81%
 
1.10%
Expected dividend yield
 
0.00
 
0.00%
 
0.00%
Equity Incentive Plan 2015 [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:
 
 
Options
 
 
Weighted-
average
exercise
price
 
Outstanding options at January 1, 2016
 
 
1,994,000
 
 
$
6.90
 
Granted, fair value of  $2.59 per share
 
 
2,622,500
 
 
 
3.29
 
Exercised
 
 
(151,000
)
 
 
2.32
 
Expired/forfeited
 
 
(22,500
)
 
 
3.23
 
Outstanding options at December 31, 2016
 
 
4,443,000
 
 
$
4.94
 
Granted, fair value of  $11.35 per share
 
 
1,077,000
 
 
$
14.31
 
Exercised
 
 
(81,719
)
 
 
4.22
 
Expired/forfeited
 
 
(325,314
)
 
 
5.52
 
Outstanding options at December 31, 2017
 
 
5,112,967
 
 
$
9.07
 
Granted, fair value of  $10.23 per share
 
 
1,497,300
 
 
$
12.95
 
Exercised
 
 
(360,853
)
 
 
6.22
 
Expired/forfeited
 
 
(724,009
)
 
 
10.65
 
Outstanding options at December 31, 2018
 
 
5,525,405
 
 
$
8.08
 
Non-vested options at December 31, 2016
 
 
3,115,313
 
 
$
4.24
 
Non-vested options at December 31, 2017
 
 
2,641,832
 
 
 
8.21
 
Non-vested options at December 31, 2018
 
 
2,355,719
 
 
 
10.41
 
Information regarding options outstanding by range of exercise prices
Further information regarding options outstanding under the 2015 Equity Incentive Plan at December 31, 2018 is summarized below:
 
 
 
 
 
 
 
 
Number of
 
 
Weighted-average
 
 
Number of
 
 
Weighted-average
 
 
Range of exercise
prices
 
 
options
outstanding
 
 
Remaining
life in years
 
 
Exercise
price
 
 
options
exercisable
 
 
Remaining
life in years
 
 
Exercise
price
 
$
2.31
 
 
$
4.45
 
 
 
2,252,855
 
 
 
6.7
 
 
$
3.51
 
 
 
1,593,792
 
 
 
6.3
 
 
$
3.42
 
 
5.90
 
 
 
9.23
 
 
 
1,645,800
 
 
 
6.5
 
 
 
7.46
 
 
 
1,191,561
 
 
 
5.4
 
 
 
7.25
 
 
11.43
 
 
 
14.45
 
 
 
591,700
 
 
 
9.5
 
 
 
13.20
 
 
 
50,000
 
 
 
9.2
 
 
 
13.65
 
 
15.25
 
 
 
17.30
 
 
 
1,035,050
 
 
 
9.0
 
 
 
16.09
 
 
 
334,333
 
 
 
8.9
 
 
 
16.04
 
 
 
 
 
 
 
 
 
 
5,525,405
 
 
 
 
 
 
 
 
 
 
 
3,169,686
 
 
 
 
 
 
 
 
 
Equity Incentive Plan 2005 [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:
 
 
 
Options
 
 
Weighted-
average
exercise
price
 
Outstanding options at January 1, 2016
 
 
330,084
 
 
$
13.49
 
Expired/forfeited
 
 
(1,524
)
 
 
36.93
 
Outstanding options at December 31, 2016
 
 
328,560
 
 
$
14.57
 
Expired/forfeited
 
 
(11,800
)
 
 
21.53
 
Outstanding options at December 31, 2017
 
 
316,760
 
 
$
14.31
 
Expired/forfeited
 
 
(360
)
 
 
150.00
 
Outstanding options at December 31, 2018
 
 
316,400
 
 
$
14.15
 
Information regarding options outstanding by range of exercise prices
Further information regarding options outstanding under the 2005 Equity Incentive Plan at December 31, 2018 is summarized below:
 
 
 
 
 
 
 
 
Number of
 
 
Weighted-average
 
 
Number of
 
 
Weighted-average
 
 
Range of exercise
prices
 
 
options
outstanding
 
 
Remaining
life in years
 
 
Exercise
price
 
 
options
exercisable
 
 
Remaining
life in years
 
 
Exercise
price
 
$
3.25
 
 
$
3.25
 
 
 
120,000
 
 
 
1.1
 
 
$
3.25
 
 
 
120,000
 
 
 
1.1
 
 
$
3.25
 
 
11.50
 
 
 
18.50
 
 
 
189,000
 
 
 
3.9
 
 
 
18.35
 
 
 
189,000
 
 
 
3.9
 
 
 
18.35
 
 
30.50
 
 
 
122.50
 
 
 
7,400
 
 
 
2.1
 
 
 
83.72
 
 
 
7,400
 
 
 
2.1
 
 
 
83.72
 
 
 
 
 
 
 
 
 
 
316,400
 
 
 
 
 
 
 
 
 
 
 
316,400