Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
These options at their respective grant dates were valued using the Black-Scholes option pricing model with the following key assumptions:
| | Expected life | | | Risk | | | Dividend | | | Forfeiture | | | Expected | | | Grant date | | Grant date | | in years | | | free rate | | | rate | | | rate | | | volatility | | | fair value | | February 17, 2015 | | | 5.39 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 136,613 | | July 1, 2014 | | | 4.75 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 1,259,487 | | June 20, 2014 | | | 4.72 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 118,957 | | April 11, 2014 | | | 4.50 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 230,930 | | November 24, 2015 | | | 6.15 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 694,384 | | December 14, 2015 | | | 6.21 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 1,260,437 | | April 21, 2016 | | | 0.79-9.25 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 2,582,890 | | April 26, 2016 | | | 6.57 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 213,750 | | August 8, 2016 | | | 6.86 | | | | 1.59 | % | | | 0 | % | | | 0 | % | | | 114 | % | | $ | 652,068 |
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Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block] |
The following is a summary of stock options outstanding and exercisable as of December 31, 2016:
| | | | | | | | Number of | | Exercise Price ($) | | | Number of Options | | | Expiry Date | | Exercisable Options | | | 0.165 | | | | 374,324 | | | April 1, 2021 | | | 374,324 | | | 0.23 | | | | 99,610 | | | June 20, 2021 | | | 99,610 | | | 0.23 | | | | 1,981,728 | | | July 1, 2021 | | | 1,981,728 | | | 0.23 | | | | 204,460 | | | February 17, 2022 | | | 136,314 | | | 1.22 | | | | 400,000 | | | November 24, 2022 | | | 133,333 | | | 1.00 | | | | 2,430,000 | | | December 14, 2022 | | | 810,000 | | | 1.00 | | | | 250,000 | | | April 26, 2023 | | | - | | | 0.25 | | | | 906,077 | | | July 28, 2025 | | | 906,077 | | | 0.25 | | | | 86,972 | | | December 30, 2025 | | | 59,158 | | | 0.95 | | | | 9,486 | | | February 2, 2017 | | | 9,486 | | | 0.95 | | | | 111,937 | | | March 28, 2023 | | | 111,937 | | | 0.95 | | | | 31,620 | | | March 3, 2024 | | | 31,620 | | | 0.95 | | | | 15,810 | | | March 14, 2024 | | | 15,810 | | | 0.95 | | | | 82,213 | | | September 30, 2024 | | | 82,213 | | | 0.95 | | | | 7,431 | | | June 2, 2025 | | | 7,431 | | | 0.95 | | | | 671,859 | | | July 29, 2025 | | | 671,859 | | | 0.95 | | | | 57,353 | | | December 30, 2025 | | | 8,193 | | | 1.05 | | | | 36,697 | | | February 2, 2017 | | | 36,697 | | | 1.05 | | | | 433,027 | | | March 28, 2023 | | | 433,027 | | | 1.05 | | | | 122,324 | | | March 3, 2024 | | | 122,324 | | | 1.05 | | | | 61,162 | | | March 14, 2024 | | | 61,162 | | | 1.05 | | | | 318,042 | | | September 30, 2024 | | | 318,042 | | | 1.05 | | | | 28,747 | | | June 2, 2025 | | | 28,747 | | | 1.00 | | | | 750,000 | | | August 8, 2023 | | | - | | | | | | | 9,470,879 | | | | | | 6,439,092 |
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