Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity for the year ended December 31, 2017:

 

    Number of
Options 		    Weighted
Average
Exercise
Price 		    Weighted
Average
Remaining
Contractual
Life
(in Years) 		    Aggregate
Intrinsic
Value 		 
Outstanding – January 1, 2017     69,950     $ 12.07       9.0     $ -  
Granted     240,000       10.72                  
Exercised     -       -                  
Forfeited or Canceled     (63,386 )     (10.46 )                
Outstanding – December 31, 2017     246,564     $ 11.17       9.1     $ -  
                                 
Exercisable – December 31, 2017     86,564       12.00       9.0     $ -  

Schedule of Fair Value Measurement Assumptions

These options had an aggregate fair value of $1,060,800, using the Black-Scholes option-pricing model with the following assumptions:

 

Risk-free interest rate     2.13 %
Expected dividend yield     0.00 %
Expected volatility     41.78 %
Expected term     5.5 years  

Schedule of Restricted Stock Activity

A summary of restricted stock activity for the year ended December 31, 2017 is as follows:

 

    Number of
Shares 		 
Unvested - December 31, 2016     2,778  
Granted     15,544  
Vested     (2,778 )
Forfeited or Canceled     -  
Unvested – December 31, 2016     15,544