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Note 12 - Stockholders' Equity
 6 Months Ended
Jun. 30, 2021
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 12. STOCKHOLDERS’ EQUITY 

 

On October 5, 2017, we effected a one-for-ten reverse stock split of our common stock. Our condensed consolidated financial statements and disclosures reflect these changes in capital structure for all periods presented.

 

On June 12, 2015 and June 13, 2016, our shareholders approved 100,000,000 increases in our authorized common stock to 300,000,000 and 400,000,000, respectively. On October 2, 2017, our shareholders approved a 300,000,000 decrease in our authorized common stock to 100,000,000.

 

The following table represents the change in our stockholders' equity for the three and six months ended June 30, 2021 and 2020:

 

  

Three and Six Months Ended June 30, 2020

 
  

Common Stock

  

Paid in

  

Accumulated Other

  

Non-controlling

  

Accumulated

  

Total

 
  

Shares

  

Amount

  

Capital

  

Comprehensive Loss

  

interest

  

Deficit

  

Stockholder's Equity

 

Balance December 31, 2019

  4,111,082  $410.66  $185,297,069  $(2,274,187) $(231,999) $(178,750,634) $4,040,660 

Share based compensation

  14,672   1.47   45,896   -   -   -   45,897 

Expenses paid in connection with ESOUSA transaction

  -   -   (5,000)  -   -   -   (5,000)

Net income (loss)

  -   -   -   -   (11,228)  (1,366,798)  (1,378,026)

Comprehensive income - foreign currency translation

  -   -   -   130,813   -   -   130,813 

Balance March 31, 2020

  4,125,754  $412.13  $185,337,965  $(2,143,374) $(243,227) $(180,117,432) $2,834,345 

Share based compensation

  4,054   0.41   7,500   -   -   -   7,500 

ESOUSA transaction

  65,862   6.59   151,475   -   -   -   151,482 

Net loss

  -   -   -   -   (13,724)  (324,690)  (338,414)

Comprehensive income - foreign currency translation

  -   -   -   (65,990)        (65,990)

Balance June 30, 2020

  4,195,670  $419.13  $185,496,940  $(2,209,364) $(256,951) $(180,442,122) $2,588,923 

 

  

Three and Six Months Ended June 30, 2021

 
  

Common Stock

  

Paid in

  

Accumulated Other

  

Non-controlling

  

Accumulated

  

Total

 
  

Shares

  

Amount

  

Capital

  

Comprehensive Loss

  

interest

  

Deficit

  

Stockholder's Equity

 

Balance December 31, 2020

  4,997,349  $499.28  $189,700,103  $(2,259,410) $(267,053) $(184,692,067) $2,482,072 

Share based compensation

  807   0.08   11,258   -   -   -   11,258 

ESOUSA transaction

  200,000   20.00   1,999,980   -   -   -   2,000,000 

Net income (loss)

  -   -   -   -   (14,140)  304,562   290,422 

Comprehensive loss - foreign currency translation

  -   -   -   18,583   -   -   18,583 

Balance March 31, 2021

  5,198,156  $519.37  $191,711,341  $(2,240,827) $(281,193) $(184,387,504) $4,802,335 

Share based compensation

  1,029   0.10   11,237            11,237 

Net loss

               (12,764)  1,263,876   1,251,111 

Comprehensive loss - foreign currency translation

            93,601         93,601 

Balance June 30, 2021

  5,199,185  $519.47  $191,722,577  $(2,147,227) $(293,957) $(183,123,628) $6,158,284 

 

Equity Incentive Plan Activity

 

On December 5, 2013, our shareholders approved the Net Element International, Inc. 2013 Equity Incentive Plan (as amended to date, the “2013 Plan”). Awards under the 2013 Plan may be granted in any one or all of the following forms: (i) incentive stock options meeting the requirements of Section 422 of the Internal Revenue Code of 1986, as amended; (ii) non-qualified stock options (unless otherwise indicated, references to “Options” include both Incentive Stock Options and Non-Qualified Stock Options); (iii) stock appreciation rights, which may be awarded either in tandem with Options or on a stand-alone basis; (iv) shares of common stock that are restricted; (v) units representing shares of common stock; (vi) units that do not represent shares of common stock but which may be paid in the form of common stock; and (vii) shares of common stock that are not subject to any conditions to vesting.

 

On December 1, 2020, our shareholders approved an amendment to the 2013 Plan to increase the number of shares of the Company’s common stock available for issuance by 219,500 shares resulting in the aggregate of 1,160,500 shares authorized for issuance under the 2013 Plan.

 

The maximum aggregate number of shares of common stock available for award under the 2013 Plan at June 30, 2021 and December 31, 2020 was 208,664 and 210,500, respectively. The 2013 Plan is administered by the compensation committee.

 

 

 

 

 

2013 Equity Incentive Plan - Shares and Stock Options

 

During the three months ended June 30, 2021 and 2020, we issued common stock pursuant to the 2013 Plan to the members of our Board of Directors and recorded a compensation charge of $11,237 and $7,500, respectively.

 

During the six months ended June 30, 2021 and 2020, we issued common stock pursuant to the 2013 Plan to the members of our Board of Directors and recorded a compensation charge of approximately $22,494 and $15,000, respectively. 

 

At June 30, 2021 and December 31, 2020 we had 200,648 incentive stock options outstanding, with a weighted average exercise price of  $10.73 at June 30, 2021 and  December 31, 2020 and a weighted average remaining contract term of 6.58 years at June 30, 2021 and 7.07 years at December 31, 2020. All of the stock options were anti-dilutive at December 31, 2020.