Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Award Activity
The following table summarizes the Company’s stock option activity for the nine months ended September 30, 2017:
 
 
  
Number of
Options
    
Weighted
Average
Exercise
Price
    
Weighted
Average
Remaining
Contractual
Life
(in Years)
    
Aggregate
Intrinsic
Value
  
Outstanding - December 31, 2016
    
69,950
    
$
12.07
      
9.0
    
$
156,975
  
Granted
    
240,000
      
10.72
                  
Exercised
    
-
      
-
                  
Forfeited/Canceled/Expired
    
(25,053
)
    
(13.93
)
                
Outstanding – September 30, 2017
    
284,897
    
$
10.77
      
9.3
    
$
-
  
 
                                
Exercisable – September 30, 2017
    
124,897
    
$
10.83
      
9.2
    
$
-
  
Schedule of Award Fair Value Assumptions
These options had an aggregate fair value of $1,060,800, using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate
    
2.13
%
Expected dividend yield
    
0.00
%
Expected volatility
    
41.78
%
Expected term
Schedule of Unvested Restricted Stock Activity
A summary of the restricted stock award activity for the nine months ended September 30, 2017 is as follows:
 
 
  
Number of
Shares
  
 
      
Unvested Outstanding at December 31, 2016
    
2,778
  
Granted
    
15,544
  
Forfeited
    
-
  
Vested
    
-
  
Unvested Outstanding at September 30, 2017
    
18,322