XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.20.2

13. STOCK-BASED COMPENSATION | 6 Months Ended
--- | ---
Jun. 30, 2020
Share-based Payment Arrangement [Abstract] |
13. STOCK-BASED COMPENSATION | Pursuant to the Company’s 2019 Omnibus Equity Incentive Plan adopted and approved in 2019 (“ 2019 Plan”), awards under the 2019 Plan is limited in the aggregate to 2,068,398 shares of our common stock, inclusive of the awards that were previously issued and outstanding under the Company’s 2007 Equity Incentive Plan, as amended (the “2007 Plan”). Upon adoption and approval of the 2019 Plan, the 2007 Plan was frozen, no new awards will be granted under the 2007 Plan, and outstanding awards under the 2007 Plan will continue to be governed by the terms and condition of the 2007 Plan and applicable award agreement. As of June 30, 2020, the number of shares of the Company’s common stock available for grant of stock options and issuance under the 2019 Plan is 989,698 shares. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model. The risk free rate is based on the yield-to-maturity in continuous compounding of the US Government Bonds with the time-to-maturity similar to the expected tenor of the option granted, volatility is based on the annualized historical stock price volatility of the Company, and the expected life is based on the historical option exercise pattern. For the three and six months ended June 30, 2020 and 2019, total compensation costs for options granted recorded in the consolidated statement of loss were $0 and $45,900. During the three and six months ended June 30, 2020, there were no options granted to employees or non-employees. The following table summarizes all Company stock option transactions between January 1, 2020 and June 30, 2020.
|  | Number of Option and Warrants Outstanding and exercisable |  | Weighted- Average Exercise price of Option and Warrants |  | Range of Exercise Price per Common Share
Balance, January 1, 2020 |  |  | 135,100 |  |  | $ | 7.21 |  |  |  | $3.57 - $9.90 |
Exercised during the period |  |  | — |  |  |  | — |  |  |  | — |
Expired during the period |  |  | (7,500 | ) |  | $ | 9.17 |  |  |  | — |
Balance, June 30, 2020 |  |  | 127,600 |  |  | $ | 7.09 |  |  |  | $3.57 - $7.27 |
Stock Options and Warrants Outstanding and Exercisable
|  |  |  |  |  | Weighted Average
|  |  |  |  |  | Remaining
|  | Outstanding at June 30, 2020 |  | Range of Exercise Prices |  | Contractual Life (Years)
Outstanding and exercisable |  | 127,600 |  | $3.57 - $7.27 |  | 1.13
The aggregate intrinsic value of options outstanding and exercisable as of June 30, 2020 was $10,710. During the three months ended June 30, 2020 and 2019, there were 0 and 132,462shares of common stock issued upon cashless exercise of 0 and 330,400 options. During the six months ended June 30, 2020 and 2019, there were 0 and 151,856 shares of common stock issued upon cashless exercise of 0 and 379,400 options. The aggregate intrinsic value of options exercised during the three months ended June 30, 2020 was $0.The aggregate intrinsic value of options exercised during the three months ended June 30, 2019 was $808,014. The aggregate intrinsic value of options exercised during the six months ended June 30, 2020 was $0.The aggregate intrinsic value of options exercised during the six months ended June 30, 2019 was $922,429.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration