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Stockholders' Equity
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Stockholders' Equity

9. Stockholders’ Equity

 

Sales of Equity - On August 30, 2017, the Company sold 1,200,000 shares of unregistered common stock and five-year warrants to purchase up to an aggregate of 240,000 additional shares of the Company’s common stock at an exercise price of $1.00 to a total of two related party accredited investors for an aggregate purchase price of $900,000, of which $300,000 was receivable as of December 31, 2017. On March 29, 2018, the Company received the payment of the $300,000 subscription receivable from the investor.

 

Stock-Based Payments and Compensation - The Company records stock-based payment expense related to options and warrants based on the grant date fair value in accordance with FASB ASC 718. Stock-based compensation includes expense charges for all stock-based awards to employees, directors and consultants. Such awards include option grants, warrant grants, and restricted stock awards. During the three months ended March 31, 2018, the Company had stock compensation expense of approximately $1,200 or less than $0.01 basic and diluted earnings per share ($132,000; less than $0.01 basic and diluted earnings per share for the corresponding three months ended March 31, 2017).