Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

The following tables summarize the Company’s stock option activity for the six months ended June 30, 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		(210,313	)		3.98
Outstanding – June 30, 2019		319,126		$	8.44		8.1	$	8,400

Exercisable – June 30, 2019		252,459		$	9.97		7.8	$	2,800

	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		250,000			2.82
Exercised		-			-
Forfeited/Canceled/Expired		(125	)		27.6
Outstanding – June 30, 2018		496,439		$	6.97		9.2	$	250,000

Exercisable – June 30, 2018		249,772		$	8.52		9.0	$	83.333

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

A summary of the restricted stock award activity for the six months ended June 30, 2019, and 2018 is as follows:

	Number of Shares

Unvested Outstanding - January 1, 2019		60,651
Granted		47,568
Forfeited		(13,865	)
Vested		(27,761	)
Unvested Outstanding – June 30, 2019		66,593

	Number of Shares

Unvested Outstanding - January 1, 2018		15,544
Granted		40,460
Forfeited		-
Vested		(15,544	)
Unvested Outstanding – June 30, 2018		40,460