| Summary of changes in outstanding stock options |
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Weighted
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Average
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Grant
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Weighted
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Remaining
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Date
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Average
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Contractual Term
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Shares
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Fair Value
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Price
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(as of December 31, 2016)
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Balance, December 31, 2014
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1,815,000
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6.55
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8.6
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Forfeited
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(33,333)
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8.10
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Balance, December 31, 2015
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1,781,667
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6.55
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6.9
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Non-exercisable
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(615,539)
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5.85
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7.0
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Outstanding and exercisable, December 31, 2015
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1,166,128
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8.10
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6.5
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Balance, December 31, 2015
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1,781,667
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6.55
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6.9
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Granted
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1,700,000
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$
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0.78
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1.00
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8.6
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Forfeited or cancelled
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(1,366,667)
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6.03
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6.8
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Balance, December 31, 2016
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2,115,000
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2.39
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8.1
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Non-exercisable
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(1,155,000)
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1.00
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8.9
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Outstanding and exercisable, December 31, 2016
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960,000
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4.07
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7.2
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