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Stock Award Programs (Details 1) - $ / shares
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number of Shares, Granted 980,851 [1] 300,000 [2]
Number of Shares, Exercised 84,062,446  
Employee Stock Option [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Number of Shares, outstanding and exercisable, Options outstanding, Beginning Balance 4,173,334 2,090,668
Number of Shares, Granted 0 [3] 600,000 [4]
Number of Shares, Cancelled 0 [3] 70,000 [5]
Number of Shares, Exercised 50,000 [6] 30,000
Number of Shares, outstanding and exercisable, Options outstanding, Ending Balance 4,123,334 2,590,668
Number of Shares, Options vested and expected to vest, Ending Balance 3,527,089 2,392,908
Number of Shares, Options outstanding and exercisable, Ending Balance 1,438,330 1,130,668
Weighted Average Exercise Price per Share, outstanding and exercisable, Options outstanding, Beginning Balance $ 0.6 $ 0.86
Weighted Average Exercise Price per Share, Granted 0 0.82
Weighted Average Exercise Price per Share, Cancelled 0 0.79
Weighted Average Exercise Price per Share, Exercised 0.44 0.57
Weighted Average Exercise Price per Share, outstanding and exercisable, Options outstanding, Ending Balance 0 0.85
Number of Shares, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price, Ending Balance 0.6 0.85
Weighted Average Exercise Price per Share, Options outstanding and exercisable, Ending Balance $ 0.62 $ 0.82
[1] During the three month period ended March 31, 2018, the Company granted 980,851 RSAs, of which i) 300,000 of RSAs were awarded as part of additional compensation plan to align key employees with the Company’s long term financial goals, and ii) 680,851 were awarded to members of the Company’s board of directors.
[2] During the three month period ended March 31, 2017, the Company granted 300,000 RSAs to its former Chief Executive Officer that had a grant date fair value of approximately $246,000. The vesting of these RSAs were tied to attainment of certain financial goals as outlined by the Company’s Compensation Committee of the Board of Directors. On June 30, 2017, in connection with resignation of our former Chief Executive Officer the Board of Directors accelerated vesting of 150,000 RSAs and cancelled the remaining unvested RSAs.
[3] During the three month period ended March 31, 2018, there were no grants, cancellations, or vesting of non-qualified stock options.
[4] During the three month period ended March 31, 2017, the Company granted 600,000 NQSOs to its former Chief Executive Officer and valued the award using a Black-Scholes model with the following valuation inputs: 3-year vesting period, 7-year option term, a risk free rate of 2.1%, volatility of 68.2%, no assumed dividend yield, and a forfeiture rate estimate of 4.6%. On June 30, 2017, in connection with resignation of our former Chief Executive Officer the Board of Directors cancelled all unvested NQSOs.
[5] During the three month period ended March 31, 2017, there were 70,000 stock options, 60,000 of which were unvested and were cancelled due to termination of employment and the remainder expired unexercised at the end of the option term.
[6] The total intrinsic value of stock options exercised during the three month ended March 31, 2018 was approximately $5,500.