Annual report pursuant to Section 13 and 15(d)

Stock Based Awards (Tables)

Stock Based Awards (Tables)

12 Months Ended

Dec. 31, 2015

The following table summarizes stock option transactions for the 2007 and 2015 Plans for the years ended December 31, 2014 and 2015:

	Number of shares available for grant			Total options outstanding			Weighted Average Exercise Price		Aggregate Intrinsic Value
Balance at December 31, 2013		1,648			4,403		$	0.12	$	3,406
Increase in option pool		47,459			-
Options granted to merger employees		(16,543	)		16,543			0.10
Exercised		-			(1,087	)		0.11
Cancelled		258			(258	)		0.11
Balance at December 31, 2014		32,823			19,600			0.10		15,484

Increase in authorized options		50,000
Exercised		(183	)		(183	)		0.13
Granted		(23,720	)		23,720			0.78
Cancelled		66			(66	)		0.12
Redeployed for March 2016 Financing		(29,500	)
Balance at December 31, 2015		29,485			43,071		$	0.48	$	17,867

Schedule of weighted average assumptions

The Black-Scholes option pricing model includes the following weighted average assumptions:

	Year Ended December 31,
	2015			2014
Assumptions:
Risk-free interest rate		1.66 - 2.08	%		1.08 - 2.51	%
Expected dividend yield		0	%		0	%
Expected volatility		78 -108	%		108	%
Expected terms (in years)		5.00 - 6.50			6.08

Common Stock Reserved for Future Issuance

The following table present information concerning common stock available for future issuance (in thousands):

	December 31,
	2015		2014

Stock options issued and outstanding		43,071		19,600
Authorized for future option grants		29,485		32,823
Warrants outstanding		8,280		26,769

Total		80,836		79,192

- Definition

Tabular disclosure of the freestanding option contracts issued by an entity that are indexed to, and potentially settled in, an entity's own stock. Includes disclosure on the strike price and the number of shares to which the contract is indexed, the settlement date or dates of the contract, and the issuer's accounting for the contract. If the terms of the contract provide settlement alternatives, those settlement alternatives are disclosed, including who controls the settlement alternatives, and the maximum number of shares that could be required to be issued, to net share settle the contract, if applicable. If a contract does not have a fixed or determinable maximum number of shares that could be required to be issued, the fact that a potentially infinite number of shares that may be required to be issued to settle the contract is disclosed. Disclosure also includes the contract's current fair value for each settlement alternative and how changes in the price of the issuer's equity instruments affect those settlement amounts.

+ References + Details