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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

The amount of stock-based compensation expense is as follows:

		Three months ended June 30,								Six months ended June 30,
		2019				2018				2019				2018
Stock options		$	41,138			$	19,944			$	79,881			$	36,375
Restricted stock awards			5,958				22,175				11,917				43,646
Total		$	47,096			$	42,119			$	91,798			$	80,021

Schedule of estimated fair value of stock options

The Company estimated the fair value of stock options using the Black-Scholes-Merton option pricing model with the following assumptions:

		Six months ended June 30,
		2019				2018
Number of options awarded to purchase common shares			None				25,000
Risk-free interest rate			N/A				2.60	%
Expected volatility			N/A				154.3	%
Assumed dividend yield			N/A				N/A
Expected life of options from the date of grant			N/A				9.8 years

Schedule of unrecognized compensation cost from unvested awards

The estimated unrecognized compensation cost from unvested awards which will be recognized ratably over the remaining vesting phase is as follows:

Years ended December 31st:		Unvested stock options				Unvested restricted stock awards				Total unrecognized compensation expense
2019 (remaining six months)			72,348				3,757				76,105
2020			108,436				4,251				112,687
2021			65,953				706				66,659
		$	246,737			$	8,714			$	255,451

Schedule of stock option activity under Equity Incentive Plan

Stock option activity under our Equity Incentive Plan is summarized as follows:

														Weighted avg.
						Weighted avg.				Weighted avg.				remaining
		Number of				exercise price				grant date fair				contractual life				Aggregate
		awards				per share				value per share				(in years)				intrinsic value
Outstanding, December 31, 2018			434,451			$	1.49			$	1.47				6.91			$	230,039
Granted			—			$	—			$	—				—			$	—
Exercised			—			$	—			$	—				—			$	—
Expired/Forfeited			—			$	—			$	—				—			$	—
Outstanding, June 30, 2019			434,451			$	1.49			$	1.47				6.42			$	157,717
Exercisable, June 30, 2019			235,710			$	1.16			$	1.16				4.27			$	157,717
Unvested, June 30, 2019			198,741			$	1.89			$	1.83				8.96			$	—

Schedule of restricted stock activity under Equity Incentive Plan

Restricted stock activity under our Equity Incentive Plan is summarized as follows:

						Weighted avg.
		Number of				grant date
		options				fair value
Non-vested restricted shares, December 31, 2018			30,000			$	2.38
Granted			—			$	—
Vested			—			$	—
Forfeited			—			$	—
Non-vested restricted shares, June 30, 2019			30,000			$	2.38

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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-Name Accounting Standards Codification
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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

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