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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2019
Equity [Abstract] |
Stockholders' Equity | Shareholders’ Equity Issuances of Common Stock For the nine months ended September 30, 2019, there were 499,671 shares of the Company’s common stock issued as a result of the exercise of stock options with a weighted average issue price of $1.62 per share. For the nine months ended September 30, 2018, no shares were issued.
|  | Nine Months Ended September 30, 2019 (Unaudited) |  |  |  |  |  |  |  |  |
|  |  | Common Stock |  |  |  | Treasury Stock |  |  |  | Additional Paid-In Capital |  |  |  | Accumulated Deficit |  |  |  | Total |
January 1, 2019 |  |  | $ | 38,967 |  |  | $ | (18,929,915) |  |  |  | $ | 94,385,230 |  |  |  | $ | (33,043,113) |  |  |  | $ | 42,451,169 |
Stock-based compensation |  |  | — |  |  | — |  |  |  | 309,563 |  |  |  | — |  |  |  | 309,563 |
Net loss |  |  | — |  |  | — |  |  |  | — |  |  |  | (2,175,258) |  |  |  | (2,175,258) |
March 31, 2019 |  |  | 38,967 |  |  | (18,929,915) |  |  |  | 94,694,793 |  |  |  | (35,218,371) |  |  |  | 40,585,474 |
Stock issued |  |  | 398 |  |  | — |  |  |  | 148,782 |  |  |  | — |  |  |  | 149,180 |
Stock-based compensation |  |  | — |  |  | — |  |  |  | 580,603 |  |  |  | — |  |  |  | 580,603 |
Net loss |  |  | — |  |  | — |  |  |  | — |  |  |  | (2,695,792) |  |  |  | (2,695,792) |
June 30, 2019 |  |  | 39,365 |  |  | (18,929,915) |  |  |  | 95,424,178 |  |  |  | (37,914,163) |  |  |  | 38,619,465 |
Stock issued |  |  | 102 |  |  | — |  |  |  | 179,308 |  |  |  | — |  |  |  | 179,410 |
Stock-based compensation |  |  | — |  |  | — |  |  |  | 144,180 |  |  |  | — |  |  |  | 144,180 |
Net loss |  |  | — |  |  | — |  |  |  | — |  |  |  | (1,698,384) |  |  |  | (1,698,384) |
September 30, 2019 |  |  | $ | 39,467 |  |  | $ | (18,929,915) |  |  |  | $ | 95,747,666 |  |  |  | $ | (39,612,547) |  |  |  | $ | 37,244,671 |
|  |  | Nine Months Ended September 30, 2018 (Unaudited) |  |  |  |  |  |  |  |  |
|  |  | Common Stock |  |  | Treasury Stock |  |  |  | Additional Paid-In Capital |  |  | Accumulated Deficit |  |  | Total
January 1, 2018 |  |  | $ | 38,937 |  |  | $ | (16,625,873) |  |  |  | $ | 93,913,557 |  |  | $ | (27,351,357) |  |  | $ | 49,975,264 |
Stock repurchased |  |  | — |  |  | (374,820) |  |  |  | — |  |  | — |  |  | (374,820) |
Stock-based compensation |  |  | — |  |  | — |  |  |  | 269,596 |  |  | — |  |  | 269,596 |
Net loss |  |  | — |  |  | — |  |  |  | — |  |  | (2,043,292) |  |  | (2,043,292) |
March 31, 2018 |  |  | 38,937 |  |  | (17,000,693) |  |  |  | 94,183,153 |  |  | (29,394,649) |  |  | 47,826,748 |
Stock-based compensation |  | — |  |  | — |  |  | 73,425 |  |  | — |  |  | 73,425 |
Net loss |  |  | — |  |  | — |  |  | — |  |  | (1,596,637) |  |  | (1,596,637) |
June 30, 2018 |  | 38,937 |  |  | (17,000,693) |  |  | 94,256,578 |  |  | (30,991,286) |  |  | 46,303,536 |
Stock repurchased |  |  |  |  | (1,929,222) |  |  |  |  |  | — |  |  | (1,929,222) |
Stock-based compensation |  | — |  |  |  |  |  | 70,619 |  |  | — |  |  | 70,619 |
Stock issued |  |  | 30 |  |  | — |  |  |  | 4,470 |  |  |  |  |  |  |  | 4,500 |
Net loss |  | — |  |  | — |  |  | — |  |  | (1,539,495) |  |  | (1,539,495) |
September 30, 2018 |  | $ | 38,967 |  |  | $ | (18,929,915) |  |  | $ | 94,331,667 |  |  | $ | (32,530,781) |  |  | $ | 42,909,938 |
Stock Repurchase Programs On February 16, 2016, the Board of Directors authorized a one-year stock repurchase program, under which the Company was authorized to repurchase up to $15,000,000 of its outstanding common stock (the “2016 Stock Repurchase Program”). The 2016 Stock Repurchase Program ended on February 15, 2017. On August 16, 2017, the Board of Directors authorized a new one-year stock repurchase program, under which the Company may repurchase up to $5,000,000 of its outstanding common stock (the “2017 Stock Repurchase Program”). On August 6, 2018, the Board of Directors authorized an extension of this stock repurchase program through August 15, 2019. The 2017 Stock Repurchase Program ended on August 15, 2019. The following table summarizes the Company’s stock repurchase activities:
Period |  | Total Number of Shares Purchased |  | Average Price Paid per Share |  | Amount |  | Total Number of Treasury Shares Purchased as Part of Publicly Announced Plan |  | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plan
Privately Negotiated Transactions: |  |  |  |  |  |  |  |  |  |
January 12, 2016 - Abengoa repurchased and retired shares |  | 2,136,752 |  |  | $ | 1.35 |  |  | $ | 2,884,615 |  |  | — |  |  | N/A
January 11, 2017 - Pinnacle Family Office Investments L.P. repurchased shares |  | 2,363,590 |  |  | 1.54 |  |  | 3,639,929 |  |  | 2,363,590 |  |  | N/A
|  |  |  |  |  |  |  |  |  | $ | 15,000,000 |
2016 Stock Repurchase Program: |  |  |  |  |  |  |  |  |  |
January through February 2017 |  | 7,863,980 |  |  | 1.58 |  |  | 12,448,283 |  |  | 7,863,980 |  |  | $ | 2,551,717 |
2017 Stock Repurchase Program: |  |  |  |  |  |  |  |  |  | $ | 5,000,000 |
September through December 2017 |  | 381,607 |  |  | 1.41 |  |  | 537,661 |  |  | 381,607 |  |  | $ | 4,462,339 |
January through August 2018 |  | 1,644,325 |  |  | 1.40 |  |  | 2,304,042 |  |  | 1,644,325 |  |  | $ | 2,158,297 |
Total open market and privately negotiated purchases |  | 14,390,254 |  |  | $ | 1.52 |  |  | $ | 21,814,530 |  |  | 12,253,502 |  |  |
Treasury Stock As of September 30, 2019 and December 31, 2018, there were 12,253,502 shares of common stock held in treasury, at a cost of approximately $18.9 million, representing the purchase price on the date the shares were surrendered to the Company.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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