XML 41 R29.htm IDEA: XBRL DOCUMENT v3.19.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Awards and Restricted Stock Grants

A summary of stock option awards and restricted stock grants for the three-months ended March 31, 2019 is presented below:

 

    Stock Options     Restricted Stock Awards     Weighted
Average
 
    Options
Outstanding
   

Weighted

Average

Exercise

Price

    Non-vested
Restricted
Stock
Outstanding
   

Weighted

Average

Grant

Date

Fair Value

    Contractual
Terms of
Equity
Awards
(in years)
 
Equity awards outstanding at January 1, 2019     3,148,743     $ 2.67       22,500     $ 2.72          
                                         
Equity awards granted     454,504     $ 2.18       13,000     $ 2.18          
                                         
Vested and issued     -     $ -       (8,000 )   $ 2.60          
                                         
Equity awards forfeited, cancelled or expired     (11,355 )   $ 2.37       -     $ -          
                                         
Equity awards outstanding at March 31, 2019     3,591,892     $ 2.60       27,500     $ 2.50       9.1  
                                         
Aggregate intrinsic value of outstanding equity awards at March 31, 2019   $ -             $ 53,900                  
                                         
Equity awards exercisable at March 31, 2019     1,684,265     $ 2.97                       9.3  
                                         
Aggregate intrinsic value of equity awards exercisable at March 31, 2019   $ -                                  

Schedule of Assumptions Used to Determine Fair Value of Options Granted

The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model:

 

    Three Months Ended March 31,  
    2019     2018  
Risk-free interest rate     2.65 %     2.82 %
Expected volatility     101.3 -106.2 %     99.9 %
Expected life (in years)     7.5 - 9.3       10  
Expected dividend yield     - %     - %