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