XML 26 R16.htm IDEA: XBRL DOCUMENT

Share-Based Compensation

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

(10) 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 $47 and $99 for the three and six months ended June 30, 2020, respectively, compared to $58 and $115 for the three and six months ended June 30, 2019, respectively.

As of June 30, 2020, there was approximately $389 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, 2020, no stock options were exercised, while 36,000 stock options were exercised for $16 for the same period in 2019. During the six months ended June 30, 2020, 535,000 stock options were granted, compared to 547,500 stock options granted during the same period in 2019. During the six months ended June 30, 2020, 438,840 stock options expired compared to 130,500 for the same period in 2019. For the six months ended June 30, 2020, 173,634 stock options were forfeited compared to 48,600 stock options stock options being forfeited for the same period in 2019. We had 3,636,000 stock options outstanding at a weighted average exercise price of $0.57 on June 30, 2020, compared to 3,747,000 stock options outstanding at a weighted average exercise price of $0.64 on June 30, 2019.

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, 2020	June 30, 2019
Weighted-average risk-free interest rates	n/a		2.5	%
Dividend yield	n/a		—
Weighted-average expected life of the option	n/a		7 years
Weighted-average expected stock price volatility	n/a		0.94
Weighted-average fair value of the options granted	n/a	$	0.67

For the six months ended	June 30, 2020			June 30, 2019
Weighted-average risk-free interest rates		0.5	%		2.5	%
Dividend yield		—			—
Weighted-average expected life of the option		4.5 years			7 years
Weighted-average expected stock price volatility		94	%		94	%
Weighted-average fair value of the options granted	$	0.36		$	0.64

As of June 30, 2020, we did not have any unvested restricted stock or performance shares outstanding.