STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2018

(5)

STOCKHOLDERS’ EQUITY

Treasury Stock

From December 6, 2017 through March 6, 2018, we had the ability through our stock purchase program to re-purchase our common stock at prevailing market prices either in the open market or through privately negotiated transactions up to $2.0 million. On March 6, 2018, we reached the limit of $2.0 million and share re-purchases were ceased.

From the inception of the plan through March 6, 2018, we purchased 495,091 shares of our common stock for $2.0 million or an average price of $4.04 per share.

On May 14, 2018, our Board of Directors approved a new program to buy back an additional $2.0 million of our common stock at prevailing market prices either in the open market or through privately negotiated transactions through May 13, 2019. As of June 30, 2018, we have purchased 66,513 shares of our common stock for $0.2 million or an average price $3.17 per share.

Warrants

In October 2017, 150,000 common stock warrants were issued in exchange for professional services.

A summary of stock warrant activity for the six months ended June 30, 2018 are presented below:

	Number of ‎ Warrants ‎ (in thousands)			Weighted ‎ Average ‎ Exercise ‎ Price		Weighted ‎ Average ‎ Remaining ‎ Contractual ‎ Life (Years)		Aggregate ‎ Intrinsic ‎ Value ‎ (in thousands)
Outstanding at December 31, 2017		200		$	1.86		5.80	$	264
Granted		-		$	-
Exercised		(50	)	$	0.35
Forfeited		-		$	-
Outstanding at June 30, 2018		150		$	2.42		6.27	$	103

There were no warrants granted during the three or six months ended June 30, 2018 or 2017.