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Share-Based Compensation
 6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation

(11) 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 $115 for the three and six months ended June 30, 2019, respectively, compared to $43 and $88 for the three and six months ended June 30, 2018, respectively.

 

As of June 30, 2019, there was approximately $486 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 2.0 years.

 

Stock Options and Stock Grants

 

During the six months ended June 30, 2019, 36,000 stock options were exercised for $16, while no stock options were exercised for the same period in 2018. During the six months ended June 30, 2019, 547,500 stock options were granted, compared to 570,500 stock options granted during the same period in 2018. During the six months ended June 30, 2019, 130,500 stock options expired compared to 188,504 for the same period in 2018. For the six months ended June 30, 2019, 48,600 stock options were forfeited compared to no stock options being forfeited for the same period in 2018. We had 3,747,400 stock options outstanding at a weighted average exercise price of $0.64 on June 30, 2019, compared to 3,415,000 stock options outstanding at a weighted average exercise price of $0.67 on December 31, 2018. 

 

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

 

For the three months ended  June 30,
2019		   June 30,
2018		 
Weighted-average risk-free interest rates:   2.5%   2.9%
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:  $0.67   $0.66 
           
For the six months ended  June 30,
2019		   June 30,
2018		 
Weighted-average risk-free interest rates:   2.5%   2.9%
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   $0.64 

 

As of June 30, 2019, we did not have any unvested restricted stock or performance shares outstanding.