Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTION PLAN AND STOCK-BASED COMPENSATION (Tables)

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STOCK OPTION PLAN AND STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of activity under Stock Plans

The following table summarizes the Company’s stock option activity during the six months ended June 30, 2017:

 

    Shares     Exercise Price per
Share
   

Weighted Average

Exercise Price per
Share

 
Outstanding as of December 31, 2016     12,289,000     $ 0.10-1.21     $ 0.39  
 Granted                  
 Exercised                  
 Options forfeited/cancelled     (195,000 )     0.10       0.10  
Outstanding as of June 30, 2017     12,094,000     $ 0.10-1.21     $ 0.39  
Schedule of information about stock options vested or expected to vest

The following table summarizes information about stock options that are vested or expected to vest at June 30, 2017:

 

Vested or Expected to Vest     Exercisable Options  
          Weighted     Weighted                 Weighted     Weighted        
          Average     Average                 Average     Average        
          Exercise     Remaining     Aggregate     Number     Exercise     Remaining     Aggregate  
Exercise   Number of     Price Per     Contractual     Intrinsic     of     Price     Contractual     Intrinsic  
Price   Options     Share     Life (Years)     Value     Options     Per Share     Life (Years)     Value  
$ 0.10       1,600,000     $ 0.10       8.70     $       1,600,000     $ 0.10       8.70     $  
  0.18       934,000       0.18       6.00             934,000       0.18       6.00        
  0.20       2,150,000       0.20       4.41             2,150,000       0.20       4.41        
  0.37       58,000       0.37       5.17             58,000       0.37       5.17        
  0.40       2,000,000       0.40       4.17                   0.40       4.17        
  0.42       63,000       0.42       3.50             63,000       0.42       3.50        
  0.50       2,810,000       0.50       0.55             2,810,000       0.50       0.55        
  0.60       2,000,000       0.60       4.17                   0.60       4.17        
  0.69       100,000       0.69       6.75             100,000       0.69       6.75        
  1.21       379,000       1.21       6.53             379,000       1.21       6.53        
$ 0.10-1.21       12,094,000     $ 0.39       4.21     $       8,094,000     $ 0.39       4.21     $