XML 32 R39.htm IDEA: XBRL DOCUMENT
v3.20.1

Stock Options and Award Programs (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Nonvested restricted stock shares activity |
|  | 2019 |  |  | 2018 |
NON-VESTED AWARDS |  |  |  |  |  |
Non-vested awards outstanding, January 1, |  |  | 300,000 |  |  |  | - |
Granted (+) |  |  | 662,740 | (1) |  |  | 980,851 | (1)
Cancelled (-) |  |  | 50,000 | (2) |  |  | - |
Vested (-) |  |  | 405,240 | (3) |  |  | 680,851 | (1)
Non-vested awards outstanding, December 31, |  |  | 507,500 |  |  |  | 300,000 |
Weighted-average remaining contractual life (in years) |  |  | 7.99 |  |  |  | 2.0 |
Unamortized RSA compensation expense |  | $ | 90,759 |  |  | $ | 136,310 |
Aggregate intrinsic value of RSAs non-vested, December 31 |  | $ | 197,925 |  |  | $ | 126,000 |
Aggregate intrinsic value of RSAs vested, December 31 |  | $ | 171,867 |  |  | $ | 320,000 |
(1) During the year ended December 31, 2019, the Company granted 662,740 RSAs, of which i) 238,572 of RSAs were awarded to members of the Company’s board of directors as part of their annual board retainer fee that had a grant date fair value of $100,200 and vested during the period, and ii) 424,168 of RSAs were awarded to key employees tied to the attainment of certain financial goals as outlined by the Company’s Compensation Committee of the Board of Directors that had a grant date fair value of $254,501. During the year ended December 31, 2018, the Company granted 980,851 RSAs, of which i) 300,000 of RSAs were awarded as part of additional compensation plan to align key employees with the Company’s long term financial goals, and ii) 680,851 were awarded to members of the Company’s board of directors as part of their annual board retainer fee and vested during the period. (2) There were 50,000 RSAs that were cancelled during the year ended December 31, 2019. There were no RSAs cancelled or expired during the year ended December 31, 2018. (3) During the year ended December 31, 2019, 405,240 RSA vested.
Schedule of valuation assumptions |
|  | YEAR ENDED DECEMBER 31, 2019 |  |  | YEAR ENDED DECEMBER 31, 2018 |
|  | Non-Qualified Stock Option Awards |  |  | Non-Qualified Stock Option Awards |
|  | Employees |  |  | Directors |  |  | Non-Employees |  |  | Total |  |  | Employees |  |  | Directors |  |  | Non-Employees |  |  | Total |
Stock options granted |  |  | -- |  |  |  | -- |  |  |  | 25,000 |  |  |  | 25,000 |  |  |  | 100,000 |  |  |  | -- |  |  |  | 50,000 |  |  |  | 150,000 |
Expected dividend yield |  |  | -- |  |  |  | -- |  |  |  | 0% |  |  |  | 0% |  |  |  | 0% |  |  |  | -- |  |  |  | 0% |  |  |  | 0% |
Expected volatility |  |  | -- |  |  |  | -- |  |  |  | 64.5% |  |  |  | 64.5% |  |  |  | 65.2% - 66.7% |  |  |  | -- |  |  |  | 69.5% |  |  |  | 65.2%-6.95% |
Risk-free interest rate |  |  | -- |  |  |  | -- |  |  |  | 2.4% |  |  |  | 2.4% |  |  |  | 2.72% - 2.73% |  |  |  | -- |  |  |  | 1.0% |  |  |  | 1.0%-2.73% |
Forfeiture rate |  |  | -- |  |  |  | -- |  |  |  | 1.2% |  |  |  | 1.2% |  |  |  | 4.43% - 4.81% |  |  |  | -- |  |  |  | 10.3% |  |  |  | 4.43%-10.3% |
Expected life |  |  | -- |  |  |  | -- |  |  |  | 3 years |  |  |  | 3 years |  |  |  | 5 years |  |  |  | -- |  |  |  | 3 years |  |  |  | 3-5 years |
Schedule of nonvested share activity |
|  | 2019 |  |  | 2018 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  | Grant Date |  |  |  |  |  | Grant Date |
NON-VESTED AWARDS |  | Shares |  |  | Fair Value |  |  | Shares |  |  | Fair Value |
Non-vested balances, January 1, |  |  | 2,067,503 |  |  | $ | 0.36 |  |  |  | 2,685,004 |  |  | $ | 0.35 |
Granted (+) |  |  | 25,000 | (1) |  | $ | 0.15 |  |  |  | 150,000 | (1) |  | $ | 0.25 |
Cancelled (-) |  |  | 80,001 | (2) |  | $ | 0.34 |  |  |  | 50,000 | (2) |  | $ | 0.32 |
Vested/Excercised (-) |  |  | 1,170,832 |  |  | $ | 0.34 |  |  |  | 717,501 | (3) |  | $ | 0.30 |
Non-vested balances, December 31, |  |  | 841,670 |  |  | $ | 0.38 |  |  |  | 2,067,503 |  |  | $ | 0.36 |
Schedule of stock option activity |
|  | 2019 |  |  | 2018 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  |  | Average |
OUTSTANDING AND EXERCISABLE AWARDS |  | Shares |  |  | Exercise Price |  |  | Shares |  |  | Exercise Price |
Awards outstanding, January 1, |  |  | 4,013,334 |  |  | $ | 0.58 |  |  |  | 4,173,334 |  |  | $ | 0.60 |
Granted (+) |  |  | 25,000 | (1) |  | $ | 0.41 |  |  |  | 150,000 | (1) |  | $ | 0.50 |
Cancelled (-) |  |  | 530,000 | (2) |  | $ | 0.55 |  |  |  | 210,000 | (2) |  | $ | 0.83 |
Exercised (-) |  |  | - |  |  |  | - |  |  |  | 100,000 | (3) |  | $ | 0.44 |
Awards outstanding, December 31, |  |  | 3,508,334 |  |  | $ | 0.59 |  |  |  | 4,013,334 |  |  | $ | 0.58 |
Awards vested and expected to vest, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, |  |  | 3,310,178 |  |  | $ | 0.59 |  |  |  | 3,422,491 |  |  | $ | 0.58 |
Awards outstanding and exercisable, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, |  |  | 2,666,664 |  |  | $ | 0.58 |  |  |  | 1,945,831 |  |  | $ | 0.56 |
Schedule of employee service share-based compensation |
|  | YEAR ENDED DECEMBER 31, 2019 |  |  | YEAR ENDED DECEMBER 31, 2018 |
|  | Shared-Based Compensation Expense |  |  | Shared-Based Compensation Expense |
|  | Employees |  |  | Directors |  |  | Non-Employees |  |  | Total |  |  | Employees |  |  | Directors |  |  | Non-Employees |  |  | Total |
Restricted stock compensation expense |  | $ | 281,051 |  |  | $ | 100,200 |  |  | $ | - |  |  | $ | 381,251 |  |  | $ | 67,690 |  |  | $ | 320,000 |  |  | $ | - |  |  | $ | 387,690 |
Non-qualified option stock compensation expense |  |  | 326,249 |  |  |  | - |  |  |  | 10,487 |  |  |  | 336,736 |  |  |  | 291,625 |  |  |  | - |  |  |  | 4,089 |  |  |  | 295,714 |
Total share-based compensation before taxes |  | $ | 607,300 |  |  | $ | 100,200 |  |  | $ | 10,487 |  |  | $ | 717,987 |  |  | $ | 359,315 |  |  | $ | 320,000 |  |  | $ | 4,089 |  |  | $ | 683,404 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration