Note 12 - Stock Compensation Plans

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

1

2

.

Stock Compensation Plan

s

Under the Company’s

2002

Equity Incentive Plan (the

“2002

Plan”), which provided for the grant of stock options to officers, employees, consultants and directors of the Company and its subsidiaries, the Company granted options to purchase the Company’s common stock. A total of

10,000,000

shares of the Company’s common stock were available for issuance under the

2002

Plan. The

2002

Plan expired by its terms in

April 2012,

but remains in effect only with respect to the equity awards that had been granted prior to its expiration. Under the

2002

Plan, the Company had outstanding grants of options to purchase

189,000

and

189,000

shares of the Company’s common stock as of

June 30, 2018

and

December 31, 2017,

respectively.

On

June 28, 2012,

the Company adopted its

2012

Equity Incentive Plan, with the approval of the Company’s shareholders, which provided for the grant of stock options to officers, employees, consultants and directors of the Company and its subsidiaries. All options granted under this plan had exercise prices that were equal to the fair market value on the dates of grant. During the

six

months ended

June 30, 2018,

the Company granted options to purchase

817,175

shares of common stock. Under this plan, the Company had outstanding grants of options to purchase

21,919,618

and

21,570,994

shares of the Company’s common stock as of

June 30, 2018

and

December 31, 2017,

respectively.

On

January 27, 2015,

the Company adopted its

2015

Equity Incentive Plan, which provided for the grant of stock options to officers, employees, consultants and directors of the Company and its subsidiaries. A total of

40,000,000

shares of the Company’s common stock are authorized for issuance under this plan. All options granted under this plan had exercise prices that were equal to the fair market value on the dates of grant. During the

six

months ended

June 30, 2018,

the Company granted options to purchase

1,400,000

shares of common stock. Under this plan, the Company had outstanding grants of options to purchase

12,830,000

and

12,675,000

shares of the Company’s common stock as of

June 30, 2018

and

December 31, 2017,

respectively.

Stock based compensation expense attributable to these plans was

$266

and

$547

for the

three

and

six

months ended

June 30, 2018,

respectively. This compares to

$262

and

$696

for the

three

and

six

months ended

June 30, 2017,

respectively.

In connection with the separation of former executives and directors, the Company has modified previously granted equity awards to allow for the acceleration of vesting of equity awards, and the extension of the timing to exercise vested awards, following the respective separation dates. The Company incurred incremental stock-based compensation expense of

$48

and

$104

for the

three

and

six

months ended

June 30, 2018,

respectively. This compares to

$0

and

$172

for the

three

and

six

months ended

June 30, 2017,

respectively.