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Equity

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Equity

NOTE 7—EQUITY

(a) Acorn Stock Options

A summary of stock option activity for the three months ended March 31, 2017 is as follows:

		Number of Options (in shares)				Weighted Average Exercise Price Per Share				Weighted Average Remaining Contractual Life				Aggregate Intrinsic Value

Outstanding at December 31, 2016			2,050,369			$	3.62
Granted			90,000				0.25
Exercised			—				—
Forfeited or expired			(229,879	)		$	1.74
Outstanding at March 31, 2017			1,910,490			$	3.56				3.6 years			$	25
Exercisable at March 31, 2017			1,397,904			$	3.80				3.4 years			$	15

(b) Stock-based Compensation Expense

Stock-based compensation expense included in Selling, general and administrative expenses in the Company’s Condensed Statements of Operations for the three month periods ended March 31, 2017 and March 31, 2016 was $13 and $220, respectively.

(c) Common Stock in Lieu of Board Fees

Each Director may elect by written notice delivered on or before the first day of each calendar year whether to receive, in lieu of some or all of his or her retainer and board fees, that number of shares of Company Common Stock as shall have a value equal to the applicable retainer and board fees, based on the closing price of the Company’s Common Stock on its then-current trading platform or exchange on the last trading day immediately preceding the first day of the applicable year. Once made, the election shall be irrevocable for such election year and the shares subject to the election shall vest and be issued one-fourth upon the first day of the election year and one-fourth as of the first day of each of the second through fourth calendar quarters thereafter during the remainder of the election year. For the 2017 calendar year, Messrs. Woolard and Jackson elected to receive Common Stock in lieu of retainer and board fees and accordingly were for the first three months of 2017 issued 20,834 and 23,611 shares of Common Stock, respectively. They are to receive a combined 44,444 shares on April 1, July 1 and October 1 of 2017.

(d) Warrants

The Company previously issued warrants at exercise prices equal to or greater than market value of the Company’s common stock at the date of issuance. A summary of warrant activity follows:

		Number of Warrants (in shares)				Weighted Average Exercise Price Per Share				Weighted Average Remaining Contractual Life

Outstanding at December 31, 2016			2,654,423			$	1.46
Granted			—				—
Exercised			—				—
Forfeited or expired			—				—
Outstanding at March 31, 2017			2,654,423			$	1.46				2.9 years