Share-based payments (Tables)

12 Months Ended

Dec. 31, 2015

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

The share-based compensation expenses for the share options and RSUs were allocated to the following accounts in the consolidated financial statement for the years ended December 31, 2015 and 2014:


	Year Ended December 31,
(In thousands)	2015		2014
Sales and marketing expenses	$	310	$	—
General and administrative expenses		33,404		23
Discontinued operations		456		—
Capitalized in intangible assets		363		—

Total	$	34,533	$	23

Unvested Balance of Options

The unvested balance of options were shown below for the year ended December 31, 2015:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term
Unvested as of January 1, 2015		—		$	—		—
Additions as a result of the reverse acquisition		63,334		$	6.82
Granted		85,000		$	10.39
Vested		(11,667	)	$	8.10
Forfeited		(10,000	)	$	7.85

Unvested as of December 31, 2015		126,667		$	9.02		8.1 years

Schedule of Share Options Activity

Details of share options activity during the years ended December 31, 2015 and 2014 were as follows:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term		Aggregate intrinsic value ⁽¹⁾
Balance as of January 1, 2015		—		$	—		—	$	—
Additions as a result of the reverse acquisition		407,000		$	9.21
Granted		85,000		$	10.39
Forfeited		(30,000	)	$	7.85

Balance as of December 31, 2015		462,000		$	9.52		5.3 years	$	—

Options exercisable as of December 31, 2015		365,334		$	9.35		4.6 years

⁽¹⁾	The aggregate intrinsic value amounts in the table above represent the difference between the closing price of IDI’s common share on December 31, 2015 of $7.34 and the exercise price, multiplied by the number of stock options as of the same date.

Schedule of Estimated Grant Date Fair Value of Share Options, Using Black-Scholes Option-Pricing Formula

We estimate the fair value of each stock option on the date of grant using a Black-Scholes option-pricing formula, applying the following assumptions, and amortize the fair value to expense over the option’s vesting period using the straight-line attribution approach for employees and non-employee directors, for the year ended December 31, 2015:


Expected term (in years)			4
Risk-free interest rate			1.57% - 1.66%
Expected volatility			20.97% - 128.66%
Expected dividend yield			0.00%

Schedule of Restricted Share Units Activity

Details of restricted stock unit activity during the years ended December 31, 2015 and 2014 were as follows:


	Number of units			Weighted average grant-date fair value
Unvested as of September 22, 2014 (date of inception)		—		$	—
Granted		2,960,000			2.00

Unvested as of December 31, 2014		2,960,000			2.00
Additions as a result of the reverse acquisition ⁽¹⁾		416,800			4.81
Granted ⁽²⁾		13,890,500			9.16
Vested and delivered		(382,300	)		5.55
Vested not delivered		(3,085,000	)		8.36
Forfeited		(79,000	)		5.78

Unvested as of December 31, 2015		13,721,000		$	7.35

⁽¹⁾	The 416,800 RSUs were as a result of the reverse acquisition, which were granted to certain directors and employees prior to the TBO Merger, with a verting period ranging from 6 months to 4 years.

⁽²⁾

Among the total grants in 2015, 12,312,000 shares, with weighted average grant-date fair value of $9.48, are subject to the Stockholder Approval. Among the 12,312,000 shares, 3,000,000 shares were granted to Frost Gamma, and were vested fully on the grant date, and the remaining shares have a vesting period ranging from 3 to 4 years. For accounting purposes, the grant date was determined to be in 2015, as the Company concluded the Stockholder Approval was perfunctory.