Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Contributed surplus (Tables)

v3.19.1
Contributed surplus (Tables)
12 Months Ended
Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [abstract]  
Schedule of Contributed Surplus
  Amount  
  $  
Contributed surplus    
 
Balance – December 31, 2016 6,961  
 
Share-based compensation – stock options vested 571  
Warrants expired  
Stock options exercised (1,157 )
 
Balance – December 31, 2017 6,375  
 
Share-based compensation – stock options vested 1,182  
Stock options exercised (1,053 )
 
Balance – December 31, 2018 6,504  
Schedule of Weighted Average Assumptions
  2018 2017
Risk-free interest rate 2.02% 2.70%
Expected volatility 77% 98%
Expected life (years) 4.2 4.4
Forfeiture rate 5% 4%
Schedule of Option Activity

Option activity for the year ended December 31, 2018 and 2017 was as follows:

      2018       2017  
      Weighted     Weighted
      average     average
  Number   exercise price Number   exercise price
      $     $
Outstanding - Beginning of year 1,498,052   2.26 1,961,791   2.23
 
Granted 619,505   6.65 266,814   2.40
Exercised (626,875 )1 2.18 (627,256 )1 2.21
Expired (5,569 ) 1.80 (64,068 ) 2.19
Forfeited (10,636 ) 4.92   (39,229 ) 2.37
 
Outstanding - End of year 1,474,477   4.12   1,498,052   2.26

1 Of the 626,875 (2017 - 627,256) options exercised, 443,748 (2017 - 548,833) elected the cashless exercise, under which 297,626 shares (2017 - 238,130) were issued. These options would have otherwise been exercisable for proceeds of $975 (2017 - $1,227) on the exercise date.

Schedule of Options Outstanding

At December 31, 2018, the following options were outstanding:

    Options outstanding   Options exercisable
 
      Weighted     Weighted
    Weighted average   Weighted average
Exercise   average remaining   average remaining
price   exercise contractual life   exercise contractual life
range Number price (years) Number price (years)
$   $     $  
1.98 2.29 285,939 2.08 2.16 285,939 2.08 2.16
2.30 2.38 259,377 2.37 1.48 259,377 2.37 1.48
2.39 3.01 310,125 2.50 2.63 310,125 2.50 2.63
3.02 6.72 400,625 6.36 4.17 5,312 3.20 0.25
6.73 7.39 218,411 7.09 4.17
1,474,477 4.12 2.98 860,753 2.33 2.11