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Share Based Compensation
12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
SHARE BASED COMPENSATION

10. SHARE BASED COMPENSATION

  

The Company's 2015 Omnibus Equity Plan permits the grant of incentive stock options ("ISOs"), nonqualified stock options ("NQSOs"), stock appreciation rights ("SARs"), restricted stock, unrestricted stock and restricted stock units ("RSUs") to its employees of up to 250,000 shares of Common Stock. As of December 31, 2019, there were no shares of stock available for award under the 2015 Stock Incentive Plan.

 

On March 13, 2018, the Company's shareholders approved the 2017 Omnibus Equity Plan at the annual shareholders meeting, which permits the grant of incentive stock options ("ISOs"), nonqualified stock options ("NQSOs"), stock appreciation rights ("SARs"), restricted stock, unrestricted stock and restricted stock units ("RSUs") to its employees of up to 1,300,000 shares of Common Stock. On December 21, 2018, the Company approved the issuance of 1,300,000 shares of the Company's unrestricted common stock to seven of the Company's employees pursuant to our 2017 Omnibus Equity Plan. The Company recorded an expense of $13,000 in the fourth quarter of fiscal year 2018 under the 2017 Omnibus Equity Plan, reflecting a par value of $0.001 per share of the Company's common stock. The shares were issued accordingly to these employees in May and June of 2019.

 

The Company did not grant any stock options during the fiscal year 2019.