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STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

12. STOCKHOLDERS’ EQUITY

Common Stock

The Company had 8,726,045 shares of common stock, $0.001 par value per share, outstanding as of June 30, 2018 and December 31, 2017.

Warrants

As of June 30, 2018 and December 31, 2017, the Company had warrants outstanding to purchase 50,600 shares of common stock with a weighted average exercise price of $7.00 per share. The warrants expire on September 18, 2018. No warrants were exercised during the six months ended June 30, 2018.

Stock-Based Compensation

A summary of stock option activity under the 2011 Long-Term Incentive Plan as of June 30, 2018, and changes during the six months ended June 30, 2018, are presented below:

			Stock Options				Weighted average exercise price				Weighted average remaining contractual term				Aggregate intrinsic value
Outstanding as of January 1, 2018				435,800			$	8.35				7.5			$	216
Granted				7,000				5.60
Exercised				—				—
Forfeited				(10,000	)			7.30
Outstanding as of June 30, 2018				432,800			$	8.33				7.00			$	20
Exercisable as of June 30, 2018				419,133			$	8.39				6.90			$	20

As of June 30, 2018, there were 240,867 shares available for future grants under the Company’s 2011 Long-Term Incentive Plan.

Stock-based compensation expense recorded for the three and six months ended June 30, 2018 was approximately ($2) and $146, respectively, as compared to the expense of $141 and $171, during the three and six months ended June 30, 2017, respectively. For the three and six months ended June 30, 2018, the expense reversal is primarily the result of forfeitures of previously expensed awards to a former employee. At June 30, 2018, the Company had total stock-based compensation expense remaining to be recognized in the consolidated statements of operations of approximately $25.

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 unrealized loss of $1 for the three months ended June 30, 2018 and unrealized income of $6 for the three months ended June 30, 2017. For the six months ended June 30, 2018 and 2017, the Company had foreign currency translation adjustments resulting in unrealized loss of $167 and unrealized income of $69, respectively.