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Common Stock
9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Common Stock

Note 6 — Common Stock

 

The Company has 50,000,000 authorized shares of $0.001 par value common stock as per its Amended and Restated Certificate of Incorporation. In May 2017, the Company issued 3,500,000 shares of its common stock to Imprimis, 1,500,000 shares of restricted stock to certain executives and staff of Imprimis and 1,000,000 shares of restricted stock to the CEO of the Company. On January 1, 2018, the Company issued 54,745 restricted shares of its common stock to each of its four issued to outside directors (218,980 total shares) as part of their compensation for board service to the Company in 2018. The restricted shares issued to the Imprimis executives and staff vest over a 12-month period, the restricted shares issued to the CEO vest over a 24-month period and the restricted shares issued to the outside directors vest 25% at each quarter-end in 2018 and are 100% vested as of December 31, 2018. The Company accounted for the restricted stock awards (“RSAs”) in accordance with ASC 718 or ASC 505-50 and for the period April 27, 2017 (inception) through December 31, 2017 and for the periods ended September 30, 2017 and 2018, the Company recorded $1,403, $875 and $1,274, respectively, in stock-based compensation expense for these RSAs (see Note 8).