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Stock based compensation, options and warrants (Tables) | 3 Months Ended
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Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation | The Company recognized total expenses for stock-based compensation during the three months ended March 31, 2018 and 2017, which are included in the accompanying condensed consolidated statements of operations, as follows:
|  | Three Months Ended March 31, |
|  | 2018 |  |  | 2017 |
Selling, general and administrative expenses |  | $ | 883,943 |  |  | $ | 133,043 |
Total stock-based compensation |  | $ | 883,943 |  |  | $ | 133,043
Schedule of Recognized Stock-based Compensation | The Company recognized total stock-based compensation expense during the three months ended March 31, 2018 and 2017, from the following categories:
|  | Three Months Ended March 31, |
|  | 2018 |  |  | 2017 |
Restricted stock awards under the Plan |  | $ | 766,949 |  |  | $ | 30,431 |
Stock option awards under the Plan |  |  | 116,994 |  |  |  | 63,806 |
Non-qualified stock option awards |  |  | - |  |  |  | 38,806 |
Total stock-based compensation |  | $ | 883,943 |  |  | $ | 133,043
Summary of Stock Restricted Plan Activity | A summary of the Company’s restricted stock activity in the three months ended March 31, 2018 is presented here:
|  | Number of Shares |  |  | Weighted Average Grant-Date Fair Value |
Unvested at January 1, 2018 |  |  | 496,152 |  |  | $ | 5.97 |
Granted |  |  | 292,500 |  |  |  | 13.08 |
Vested |  |  | (30,913 | ) |  |  | 12.35 |
Forfeited |  |  | (26,563 | ) |  |  | 10.58 |
Delivered |  |  | (50,000 | ) |  |  | 4.50 |
Unvested at March 31, 2018 |  |  | 681,176 |  |  | $ | 8.66
Summary of Stock Incentive Plan Activity | A summary of activity under the Plan for the three months ended March 31, 2018 is presented below:
|  | Shares Underlying Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at January 1, 2018 |  |  | 119,533 |  |  | $ | 9.02 |  |  |  |  |  |  |
Granted |  |  | 50,000 |  |  | $ | 18.50 |  |  |  |  |  |  |
Exercised |  |  | (19,533 | ) |  | $ | 4.02 |  |  |  |  |  |  |
Forfeited |  |  | - |  |  | $ | - |  |  |  |  |  |  |
Outstanding at March 31, 2018 |  |  | 150,000 |  |  | $ | 12.83 |  |  |  | 9.7 |  |  | $ | - |
Exercisable at March 31, 2018 |  |  | 108,333 |  |  | $ | 10.65 |  |  |  | 9.6 |  |  | $ | -
Schedule of Nonqualified Award Activity | Following is a summary of outstanding options and warrants that were issued outside of the Plan for the three months ended March 31, 2018:
|  | Shares Underlying Options/Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2017 |  |  | 1,944,895 |  |  | $ | 35.06 |  |  |  | 2.7 |  |  | $ | 6,135,000 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (113,009 | ) |  | $ | 3.50 |  |  |  |  |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2018 |  |  | 1,831,886 |  |  | $ | 36.96 |  |  |  | 2.5 |  |  | $ | 62,400 |
Exercisable at March 31, 2018 |  |  | 1,831,886 |  |  | $ | 36.96 |  |  |  | 2.5 |  |  | $ | 62,400

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