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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Stock Options Outstanding

Activity in the various Plans during the three months ended March 31, 2021:

 

Options    

Number of

Shares

   

Weighted

Average

Exercise Price

 
Outstanding at December 31, 2020       838,313     $ 3.20  
Granted              
Exercised              
Forfeited       (43,875 )     (12.34 )
Outstanding at March 31, 2021       794,439     $ 2.69  
Exercisable at March 31, 2021       738,189     $ 2.74  
Schedule of Shares Authorized Under Stock Option Plans by Exercise Price Range

The following table summarizes the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable options under the Company’s option plans as of March 31, 2021:

 

      Outstanding options     Exercisable options  

Exercise price

range

   

Number of

options

   

Weighted average
remaining

contractual life

   

Number of

options

   

Weighted average

remaining

contractual life

 
                           
$ 0.01 to $2.49       415,000       8.6 years       358,750       8.5 years  
$ 2.50 to $3.49       310,314       7.1 years       310,314       7.1 years  
$ 3.50 to $4.49       45,750       3.9 years       45,750       3.9 years  
$ 4.50 to $6.99       15,000       0.8 years       15,000       0.8 years  
$ 7.00 to $9.52       8,375       0.4 years       8,375       0.4 years  
                                     
          794,439       7.5 years       738,189       7.3 years  
Summary of Restricted Stock Activity

A summary of all restricted stock activity under the equity compensation plans for the three months ended March 31, 2021 is as follows:

 

     

Number of Restricted

shares

   

Weighted

average

grant date fair

value

 
Nonvested balance, December 31, 2020       720,125     $ 1.69  
Granted       450,000       2.76  
Vested       (479,250 )     (1.99 )
Forfeited       (7,500 )     (1.08 )
Nonvested balance, March 31, 2021       683,375     $ 2.14  
Schedule of Non-vested Balance of Restricted Stock

The nonvested balance of restricted stock vests as follows:

 

Years ended    

Number of  

shares

 
         
2021 (April 1, 2021 through December 31, 2021)        
2022       458,375  
2023       225,000