The Company maintains, as approved by the board of directors, the 2019 Stock Incentive Plan (the "Plan") providing for the issuance of stock-based based awards to employees, officers, directors or consultants of the Company. Non-qualified stock options may only be granted with an exercise price equal to the market value of the Company’s common stock on the grant date. Awards under the Plan may be either vested or unvested options, or unvested restricted stock. The Plan has authorized 8,000,000 shares for issuance of stock-based awards. As of March 31, 2020, there were shares available for issuance of future stock awards, which includes 8,042,278 shares available under the 2019 and 2017 incentive plans.


	Three Months Ended March 31,
	2020		2019
Stock options	$	80,430	$	691,070
Restricted stock	778,597		—
Total stock-based compensation	$	859,027	$	691,070


	Number of Options	Weighted Average Exercise Price per Option		Weighted Average Grant Date Fair Value per Option	Weighted Average Remaining Contractual Life (Years)
Balance, December 31, 2019	3,725,000	$	2.32
Granted	—
Exercised	—

Forfeited	—
Expired	(12,500)	2.74
Balance, March 31, 2020	3,712,500	$	2.31

Number of options exercisable at March 31, 2020	3,128,500	$	2.38		5.4

As of March 31, 2020, unrecognized compensation expense was $0.4 million for unvested options which is expected to be recognized over the next 2.0 years.


	Number of Unvested Shares	Weighted Average Grant Date Fair Value per Share
Balance, December 31, 2019	1,768,726	$	2.57
Granted	—	—
Vested	(282,112)	2.54
Forfeited	—	—
Balance, March 31, 2020	1,486,614	$	2.57