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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expense | The amount of stock-based compensation expense is as follows (in thousands):
|  | Year ended December 31, |
|  | 2020 |  |  | 2019 |
Stock options |  | $ | 117 |  |  | $ | 147 |
Restricted stock awards |  |  | 4 |  |  |  | 15 |
Total |  | $ | 121 |  |  | $ | 162 |
Schedule of Unrecognized Compensation Cost from Unvested Awards | As of December 31, 2020, the estimated unrecognized compensation cost from unvested awards which will be recognized ratably over the remaining vesting phase is as follows (in thousands):
Years ended December 31st: |  | Unvested stock options |  |  | Unvested restricted stock awards |  |  | Total unrecognized compensation expense |
2021 |  | $ | 82 |  |  | $ | 1 |  |  | $ | 83 |
2022 |  |  | 21 |  |  |  |  |  |  |  | 21 |
2023 |  |  | 4 |  |  |  |  |  |  |  | 4 |
2024 |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 107 |  |  | $ | 1 |  |  | $ | 108 |
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 (all share amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):
|  | Year ended December 31, |
|  | 2020 |  |  | 2019 |
Number of options awarded to purchase common shares |  |  | 7,000 |  |  |  | 2,500 |
Risk-free interest rate |  |  | 1.19 | % |  |  | 1.50 | %
Expected volatility |  |  | 94.7 | % |  |  | 100.3 | %
Assumed dividend yield |  |  | N/A |  |  |  | N/A |
Expected life of options from the date of grant |  |  | 9.8 years |  |  |  | 9.8 years |
Schedule of Stock Option Activity | Stock option activity during 2020 and 2019 is summarized as follows (all share and dollar amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):
|  | Number of |  |  | Weighted avg. exercise price |  |  | Weighted avg. grant date fair |  |  | Weighted avg. remaining contractual life |  |  | Aggregate |
|  | awards |  |  | per share |  |  | value per share |  |  | (in years) |  |  | intrinsic value |
Outstanding, January 1, 2019 |  |  | 108,613 |  |  | $ | 5.96 |  |  | $ | 5.88 |  |  |  | 6.91 |  |  | $ | 920,156 |
Granted |  |  | 2,500 |  |  |  | 6.84 |  |  |  | 6.12 |  |  |  | 9.80 |  |  |  |  |
Exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  |  |
Expired/Forfeited |  |  | (1,832 | ) |  |  | 7.44 |  |  |  | 7.32 |  |  |  | 7.55 |  |  |  |  |
Outstanding, December 31, 2019 |  |  | 109,281 |  |  | $ | 5.84 |  |  | $ | 6.12 |  |  |  | 5.97 |  |  | $ | 601,668 |
Granted |  |  | 7,000 |  |  |  | 7.91 |  |  |  | 6.89 |  |  |  | 9.32 |  |  |  |  |
Exercised |  |  | (5,000 | ) |  |  | 0.96 |  |  |  | 0.96 |  |  |  | 0.50 |  |  |  |  |
Expired/Forfeited |  |  | (6,195 | ) |  |  | 7.36 |  |  |  | 7.26 |  |  |  | 6.98 |  |  |  |  |
Outstanding, December 31, 2020 |  |  | 105,086 |  |  | $ | 6.25 |  |  | $ | 6.06 |  |  |  | 5.38 |  |  | $ | 814,090 |
Exercisable, December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 82,972 |
Unvested, December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22,114 |
Schedule of Restricted Stock Activity Under Equity Incentive Plan | The following table summarizes activity for restricted stock awards for the fiscal years presented (all share and dollar amounts have been adjusted to reflect the 1-for-4 reverse split that occurred in December 2020):
|  |  |  |  | Weighted avg. |
|  | Number of |  |  | grant date |
|  | options |  |  | fair value |
Non-vested restricted shares, January 1, 2019 |  |  | 7,500 |  |  | $ | 9.52 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | (6,250 | ) |  |  | 9.40 |
Forfeited |  |  | - |  |  |  | - |
Non-vested restricted shares, December 31, 2019 |  |  | 1,250 |  |  | $ | 10.20 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |
Forfeited |  |  | - |  |  |  | - |
Non-vested restricted shares, December 31, 2020 |  |  | 1,250 |  |  | $ | 10.20 |

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