Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following tables summarize the Company’s stock option activity for the three months ended March 31, 2019, and 2018:

 

   

Number of

Options

   

Weighted

Average

Exercise

Price

   

Weighted

Average

Remaining

Contractual

Life

(in Years)

   

Aggregate

Intrinsic

Value

 
Outstanding – January 1, 2019     499,439     $ 6.94       9.0     $ -  
Granted     30,000       2.23                  
Exercised     -       -                  
Forfeited/Canceled/Expired     (120,313 )     2.88                  
Outstanding – March 31, 2019     409,126     $ 7.78       8.4     $ 80,520  
                                 
Exercisable – March 31, 2019     330,959     $ 9.01       8.2     $ 32,710  

 

   

Number of

Options

   

Weighted

Average

Exercise

Price

   

Weighted

Average

Remaining

Contractual

Life

(in Years)

   

Aggregate

Intrinsic

Value

 
Outstanding – January 1, 2018     246,564     $ 11.17       9.1     $ —    
Granted     —         —                    
Exercised     —         —                    
Forfeited/Canceled/Expired     —         —                    
Outstanding – March 31, 2018     246,564     $ 11.17       8.9     $ —    
                                 
Exercisable – March 31, 2018     166,564     $ 11.39       8.8     $ —    

Schedule of Fair Value Measurement Assumptions

These options had an aggregate fair value of $54,000, using the Black-Scholes option-pricing model with the following assumptions:

 

Risk-free interest rate     2.44 %
Expected dividend yield     0.00 %
Expected volatility     102.71 %
Expected term     5.75 years  

Schedule of Restricted Stock Award Activity

A summary of the restricted stock award activity for the three months ended March 31, 2019, and 2018 is as follows:

 

    Number of
Shares
 
       
Unvested Outstanding - January 1, 2019     60,651  
Granted     8,090  
Forfeited     (22,730 )
Vested     -  
Unvested Outstanding - March 31, 2019     46,011  

 

    Number of
Shares
 
       
Unvested Outstanding - January 1, 2018     15,544  
Granted     —    
Forfeited     —    
Vested     —    
Unvested Outstanding - March 31, 2018     15,544