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STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 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 September 30, 2018 and December 31, 2017.

Warrants

As of 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. All of the warrants expired on September 18, 2018. No warrants were exercised through the expiration date of September 18, 2018. The Company has no warrants outstanding as of September 30, 2018.

Stock-Based Compensation

A summary of stock option activity under the 2011 Long-Term Incentive Plan as of September 30, 2018, and changes during the nine months ended September 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				(16,500	)			7.98
Outstanding as of September 30, 2018				426,300			$	8.32				6.70			$	16
Exercisable as of September 30, 2018				412,633			$	8.38				6.60			$	16

As of September 30, 2018, there were 247,367 shares available for future grants under the Company’s 2011 Long-Term Incentive Plan.

Stock-based compensation expense recorded for the three and nine months ended September 30, 2018 was approximately $14 and $160, respectively, as compared to $148 and $319, during the three and nine months ended September 30, 2017, respectively. At September 30, 2018, the Company had total stock-based compensation expense remaining to be recognized in the consolidated statements of operations of approximately $19.

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 income of $21 for the three months ended September 30, 2018 and nominal unrealized loss for the three months ended September 30, 2017. For the nine months ended September 30, 2018 and 2017, the Company had foreign currency translation adjustments resulting in unrealized loss of $146 and unrealized income of $68, respectively.