6. SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

NOTE 6: SHARE-BASED COMPENSATION

On July 27, 2018, we granted 300 shares of restricted stock to our Chief Financial Officer (“CFO”). These shares have a fair value grant price of $0.79 per share, based on the closing price of our common stock on that day. These shares vest over three years in equal tranches on the anniversary date of his appointment to the role, subject to continued service as our CFO. We are amortizing the related share-based compensation of $237 over the three-year requisite service period.

On June 24, 2019, our three independent members of the Board of Directors were each granted an option to purchase 50 share of our common stock at a price of $0.75 per share. The options will vest 25% on each of the following dates: August 31, 2019, November 30, 2019, February 29, 2020 and May 31, 2020. Once vested, the options are exercisable until June 24, 2024.

Summary of Shares of Restricted Stock

For the three months ended June 30, 2019 and 2018, we recognized a total of $24 and $5 respectively, of share based compensation related to restricted stock awards. For the six months ended June 30, 2019 and 2018, we recognized a total of $128 and $10 respectively, of share-based compensation expense related to restricted stock awards, which is included in selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations. The unamortized estimated fair value of unvested shares of restricted stock was $94 at June 30, 2019 and $222 at December 31, 2018. These costs are expected to be recognized as expense over a weighted-average period of 1.80 years.

Summary of Stock Options

For the three and six months ended June 30, 2019 and 2018, no share-based compensation expense related to outstanding stock option awards was recognized. The share-based compensation expense will be recognized over the vesting period and will be included in selling, general and administrative expenses in the condensed consolidated statements of operations. The estimated fair value of non-vested stock options was $66 at June 30, 2019. This cost is expected to be recognized as an expense over the period ending May 31, 2020.