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Share-Based Compensation

9 Months Ended

Sep. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

(8) Share-Based Compensation

We follow FASB ASC Topic 718, Compensation – Stock Compensation, in which compensation expense is recognized only for share-based payments expected to vest. We recognized compensation expense related to stock options of $58 and $146 for the three and nine months ended September 30, 2018, respectively, compared to $45 and $140 for the three and nine months ended September 30, 2017, respectively.

As of September 30, 2018, there was approximately $449 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under our stock option plans. That cost is expected to be recognized over a remaining weighted-average period of 2.2 years. 

Stock Options and Stock Grants 

During the nine months ended September 30, 2018, 63,999 shares of common stock were issued pursuant to stock option exercises for proceeds of $29,000. During the nine months ended September 30, 2017, 45,334 shares of common stock were issued pursuant to stock option exercises for proceeds of $14,000. During the nine months ended September 30, 2018, 570,500 options were granted compared to the 507,600 stock options were granted during the same period in 2017. During the nine months ended September 30, 2018, 188,504 stock options expired, and 31,601 stock options were forfeited compared to 7,000 stock options expiring and 37,568 forfeited during the same period in 2017. We had 3,428,000 stock options outstanding at a weighted average exercise price of $0.67 on September 30, 2018, compared to 3,141,000 stock options outstanding at a weighted average exercise price of $0.79 on December 31, 2017. 

The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for stock options granted during the periods presented:

For the nine months ended		September 30, 2018		September 30, 2017
Weighted-average risk-free interest rates:		2.9%		2.1%
Dividend yield:		-		-
Weighted-average expected life of the option:		7 years		7 years
Weighted-average expected stock price volatility:		94%		94%
Weighted-average fair value of the options granted:		$0.64		$0.55

As of September 30, 2018, we did not have any unvested restricted stock or performance shares outstanding. No stock options were granted in the three-month periods end September 30, 2018 and 2017.

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- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-URI http://asc.fasb.org/subtopic&trid=2208855

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- References

No definition available.

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