Annual report pursuant to Section 13 and 15(d)

Share-based Compensation (Tables)

v3.7.0.1
Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Share-based Compensation [Abstract]  
Schedule of Share-based Compensation, Activity [Table Text Block]
Options Granted to Employees
 
 
 
 
 
Weighted
 
Remaining
 
 
 
Number of
 
Average Exercise
 
Contractual
 
 
 
Shares
 
Price
 
Term in Years
 
 
 
 
 
$
 
 
 
Outstanding, January 1, 2015
 
 
760,286
 
 
2.92
 
 
7.78
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
75,000
 
 
4.43
 
 
-
 
Exercised
 
 
(16,933)
 
 
2.63
 
 
-
 
Forfeited
 
 
(26,336)
 
 
2.63
 
 
-
 
Canceled
 
 
(5,091)
 
 
2.63
 
 
-
 
Outstanding, December 31, 2015
 
 
786,926
 
 
3.08
 
 
6.90
 
Exercisable, December 31, 2015
 
 
587,407
 
 
3.16
 
 
6.56
 
 
 
 
 
 
Weighted
 
Remaining
 
 
 
Number of
 
Average Exercise
 
Contractual
 
 
 
Shares
 
Price
 
Term in Years
 
 
 
 
 
$
 
 
 
Outstanding, January 1, 2016
 
 
786,926
 
 
3.08
 
 
6.90
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
190,000
 
 
2.66
 
 
-
 
Exercised
 
 
(13,312)
 
 
2.63
 
 
-
 
Forfeited
 
 
(41,678)
 
 
2.15
 
 
-
 
Canceled
 
 
(366,544)
 
 
3.47
 
 
-
 
Outstanding, December 31, 2016
 
 
555,392
 
 
2.70
 
 
7.39
 
Exercisable, December 31, 2016
 
 
381,392
 
 
2.76
 
 
6.67
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option pricing model under the following assumptions:
 
 
 
For the years ended December 31,
 
 
2016
 
 
2015
Dividend yield
 
 
-
 
 
 
-
Risk-free interest rate
 
 
1.21%-1.4%
 
 
 
1.54%-1.71%
Expected term (in years)
 
 
5-6.05
 
 
 
5.0-6.05
Volatility
 
 
76.98%-79.55%
 
 
 
78.57%-89.73%