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)
9 Months Ended
Sep. 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 nine months ended September 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 September 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 September 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       8.45     $       1,600,000     $ 0.10       8.45     $  
  0.18       934,000       0.18       5.75             934,000       0.18       5.75        
  0.20       2,150,000       0.20       4.16             2,150,000       0.20       4.16        
  0.37       58,000       0.37       4.92             58,000       0.37       4.92        
  0.40       2,000,000       0.40       3.92                   0.40       3.92        
  0.42       63,000       0.42       3.25             63,000       0.42       3.25        
  0.50       2,810,000       0.50       0.30             2,810,000       0.50       0.30        
  0.60       2,000,000       0.60       3.92                   0.60       3.92        
  0.69       100,000       0.69       6.50             100,000       0.69       6.50        
  1.21       379,000       1.21       6.28             379,000       1.21       6.28        
$ 0.10-1.21       12,094,000     $ 0.39       3.96     $       8,094,000     $ 0.39       3.96     $