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SHARE-BASED PAYMENTS (Tables) | 9 Months Ended
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Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following weighted average assumptions were used for the Black-Scholes option pricing model to calculate the $1.28 million of fair value for the 2,405,625 warrants at September 30, 2018.
Risk-free rate | 2.59%
Expected life | 0.5 years
Expected volatility | 36.86%
Expected dividend yield | 0.00%
* | Expected volatility is measured based on the Company’s historical share price volatility over the expected life of the warrants.
The fair value of the options granted under the Compensation Plan for the nine months ended September 30, 2018 was estimated at the date of grant, using the Black-Scholes Option Valuation Model, with the following weighted-average assumptions:
Risk-free interest rate | 2.840 |
Expected life | 5.0 years |
Expected volatility | 59.0 | *
Expected dividend yield | 0.00% |
Weighted-average expected life of option | 5.00 |
Weighted-average grant date fair value | $0.96 |
* | Expected volatility is measured based on the Company’s historical share price volatility over a period equivalent to the expected life of the options.
Schedule of Share-based Compensation, Stock Options, Activity | A summary of the status and activity of non-vested stock options for the nine months ended September 30, 2018 is as follows:
| Number of shares |  | Weighted Average Grant- Date Fair Value
Non-vested December 31, 2017 | 365,180 |  |  | $ | 1.20 |
Granted | 422,956 |  |  | 0.91 |
Vested | (438,662 | ) |  | 1.07 |
Forfeited | (20,830 | ) |  | 0.64 |
Non-vested September 30, 2018 | 328,644 |  |  | $ | 1.04 |
The summary of the Company’s stock options at September 30, 2018 and December 31, 2017, and the changes for the fiscal periods ending on those dates is presented below:
| Range of Exercise Prices $ |  | Weighted Average Exercise Price $ |  | Number of Options
Balance, December 31, 2016 | 2.12 - 15.61 |  |  | 5.69 |  |  | 2,045,143 |
Granted | 1.77 - 2.35 |  |  | 2.34 |  |  | 738,893 |
Exercised | — |  |  | — |  |  | — |
Forfeited | 2.12 - 11.94 |  |  | 2.93 |  |  | (316,289 | )
Expired | 4.48 - 12.55 |  |  | 8.42 |  |  | (438,900 | )
Balance, December 31, 2017 | 1.77 - 15.61 |  |  | 4.48 |  |  | 2,028,847 |
Granted | 1.70 |  |  | 1.70 |  |  | 422,956 |
Exercised | 1.70 - 2.55 |  |  | 2.13 |  |  | (280,235 | )
Forfeited | 2.12 - 6.99 |  |  | 5.09 |  |  | (130,536 | )
Expired | 6.18 - 10.36 |  |  | 8.37 |  |  | (170,564 | )
Balance, September 30, 2018 | 1.70 - 15.61 |  |  | 3.76 |  |  | 1,870,468 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | A summary of the status and activity of non-vested RSUs at September 30, 2018 is as follows:
| RSU
| Number of shares |  | Weighted Average Grant- Date Fair Value
Non-vested December 31, 2017 | 1,909,477 |  |  | $ | 2.17 |
Granted | 1,191,132 |  |  | 1.70 |
Vested | (1,486,126 | ) |  | 2.24 |
Forfeited | (34,296 | ) |  | 2.00 |
Non-vested September 30, 2018 | 1,580,187 |  |  | $ | 1.99 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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