Quarterly report pursuant to Section 13 or 15(d)

NOTE 9 - OPTIONS AND WARRANTS (Tables)

v3.10.0.1
NOTE 9 - OPTIONS AND WARRANTS (Tables)
9 Months Ended
Sep. 30, 2018
Disclosure Text Block Supplement [Abstract]  
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table presents information related to stock options at September 30, 2018:

 

Options Outstanding

   

Options Exercisable

 
                 

Weighted

         
                 

Average

   

Exercisable

 
 

Exercise

   

Number of

   

Remaining Life

   

Number of

 
 

Price

   

Options

   

In Years

   

Options

 
  $ 3.01-4.00       734,361       8.7       511,027  
    4.01-5.00       794,857       5.8       730,057  
    5.01-6.00       599,820       1.6       599,820  
 

6.01 and up

      1,229,092       4.1       1,229,092  
            3,358,130       5.1       3,069,996  
Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the stock option activity and related information for the 2012 Plan for the nine months ended September 30, 2018 is as follows:

 

 

 

 

 

 

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

Weighted-Average

 

 

Remaining

 

 

Aggregate

 

 

 

Shares

 

 

Exercise Price

 

 

Contractual Term

 

 

Intrinsic Value

 

Outstanding at December 31, 2017

 

 

3,404,131

 

 

$

5.28

 

 

 

5.2

 

 

$

27,045

 

Grants

 

 

346,000

 

 

$

4.38

 

 

 

10.0

 

 

$

-

 

Exercised

 

 

(140,001

 

 

(4.40

)

 

 

 

 

 

 

 

 

Canceled

 

 

(252,000

)

 

 

(3.90

 

 

 

 

 

 

 

 

Outstanding at September 30, 2018

 

 

3,358,130

 

 

$

5.32

 

 

 

5.1

 

 

$

2,241,976

 

Exercisable at September 30, 2018

 

 

3,069,996

 

 

$

5.43

 

 

 

4.9

 

 

$

1,816,566

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following assumptions were used in determining the fair value of employee options for the nine months ended September 30, 2018:

Risk-free interest rate

    2.65% to 2.85

%

Dividend yield

    0

%

Stock price volatility

    92.65% to 94.10

%

Expected life

    5  years

Weighted average grant date fair value

  $ 3.20  
Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Table Text Block]
The following table summarizes information with respect to outstanding warrants to purchase common stock of the Company at September 30, 2018:

 

Exercise

   

Number

 

Expiration

 

Price

   

Outstanding

 

Date

  $ 0.0025       153,328  

January 2020

  $ 3.75       2,645,199  

October 2018 to August 2021

  $ 4.375       666,606  

May 2021

  $ 4.60       12,294  

January 2020

  $ 4.875       648,951  

October 2018 to September 2019

  $ 5.05       12,227  

January 2020

  $ 6.85       217,958  

July 2021 to August 2021

  $ 6.875       91,504  

August 2019 to September 2019

  $ 9.175       85,684  

December 2018 to January 2019

  $ 9.375       536,267  

April 2019 to March 2020

            5,070,018    
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
A summary of the warrant activity for the nine months ended September 30, 2018 is as follows:

                   

Weighted-Average

         
           

Weighted-Average

   

Remaining

   

Aggregate

 
   

Shares

   

Exercise Price

   

Contractual Term

   

Intrinsic Value

 

Outstanding at December 31, 2017

    5,115,805     $ 4.55       1.7     $ 551,636  

Grants

    1,375,374     $ 4.54       2.4       -  

Exercised

    (632,063

)

  $ 4.04                  

Expired

    (789,098

)

  $ 3.75       -       -  

Outstanding at September 30, 2018

    5,070,018     $ 4.74       1.6     $ 6,975,200  
                                 

Vested and expected to vest at September 30, 2018

    5,070,018     $ 4.74       1.6     $ 6,975,200  

Exercisable at September 30, 2018

    5,070,018     $ 4.74       1.6     $ 6,975,200