Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.19.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Options Activity

The following table summarizes the activity relating to the Company’s stock options for the three-month period ended March 31, 2019:

 

                Weighted-      
          Weighted-     Average      
          Average     Remaining   Aggregate  
          Exercise     Contractual   Intrinsic  
    Options     Price     Term   Value  
                       
Outstanding at beginning of year     1,220,000     $ 5.37              
Granted     869,000       6.20              
Exercised     -       -              
Forfeited or expired     -       -              
                             
Outstanding at end of period     2,089,000     $ 5.71     7 years   $ 764,000  
                             
Exercisable at end of period     794,000     $ 5.16     5 years   $ 624,000

Schedule of Fair Value Stock Option Assumptions

The fair value of each option grant on the date of grant is estimated using the Black-Scholes option-pricing model reflecting the following weighted-average assumptions:

 

    March 31,  
    2018     2019  
             
Expected volatility     -       42.1 %
Expected life of options (in years)     -       6  
Risk free interest rate     -       2.5 %
Dividend yield     -       0 %
Weighted average fair value of options granted during the period     -     $ 2.67

Schedule of Non-vested Restricted Stock Activity

A summary of all non-vested restricted stock for the three-month period ended March 31, 2019 is as follows:

 

          Weighted-  
    Number of     Average  
    Non-vested     Grant Date  
    Shares     Fair Value  
             
Restricted stock, non-vested, beginning of year     568,000     $          6.65  
Granted     81,000       6.05  
Vested     (90,000 )     6.79  
Forfeited     -       -  
                 
Restricted stock, non-vested, end of period     559,000     $ 6.54