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STOCKHOLDERS' EQUITY
12 Months Ended
Dec. 31, 2017
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY

12. STOCKHOLDERS’ EQUITY

 

Common Stock

 

The Company had 8,726,045 and 8,699,712 shares of common stock, $0.001 par value per share, outstanding as of December 31, 2017 and 2016, respectively.

 

Warrants

 

The Company had warrants outstanding to purchase 50,600 shares of common stock, with a weighted average exercise price of $7.00 per share, as of December 31, 2017 and 2016. The warrants expire on September 18, 2018. No warrants were exercised during the years ended December 31, 2017 and 2016.

 

Preferred Stock

 

The board of directors is authorized, subject to any limitations prescribed by law, without further vote or action by the shareholders, to issue from time to time up to 5,000,000 shares of preferred stock, $0.001 par value, in one or more series. Each such series of preferred stock shall have such number of shares, designations, preferences, voting powers, qualifications, and special or relative rights or privileges as shall be determined by the board of directors, which may include, among others, dividend rights, voting rights, liquidation preferences, conversion rights and preemptive rights.

 

Foreign Currency Translation

 

Foreign assets and liabilities are translated using the exchange rate in effect at the balance sheet date, and results of operations are translated using an average rate for the period. Translation adjustments are accumulated and reported as a component of accumulated other comprehensive income (loss). The Company had foreign currency translation adjustments resulting in an unrealized gain of $169 for the year ended December 31, 2017, as compared to an unrealized loss of $37 for the year ended December 31, 2016.