Shareholders' Equity

6 Months Ended

Jun. 30, 2020

Shareholders’ Equity

Issuances of Common Stock

For the six months ended June 30, 2020, there were 123,000 shares of the Company’s common stock issued as a result of the exercise of stock options with a weighted average issue price of $1.88 per share. For the six months ended June 30, 2019, there were 397,671 shares of the Company’s common stock issued as a result of the exercise of stock options with a weighted average issue price of $1.59 per share.

Changes in Stockholders Equity


	Six Months Ended June 30, 2020 (Unaudited)
	Common Stock		Treasury Stock		Additional Paid-In Capital		Accumulated Deficit		Total
January 1, 2020	$	39,613	$	(18,929,915)	$	96,105,851	$	(41,351,078)	$	35,864,471
Stock-based compensation	—		—		426,939		—		426,939
Exercise of stock options	100		—		174,900		—		175,000
Net loss	—		—		—		(2,214,139)		(2,214,139)
March 31, 2020	$	39,713	$	(18,929,915)	$	96,707,690	$	(43,565,217)	$	34,252,271
Stock issued	—		—		436,613		—		436,613
Stock-based compensation	23		—		55,720		—		55,743
Net loss	—		—		—		(2,651,422)		(2,651,422)
June 30, 2020	$	39,736	$	(18,929,915)	$	97,200,023	$	(46,216,639)	$	32,093,205






	Six Months Ended June 30, 2019 (Unaudited)
	Common Stock		Treasury Stock		Additional Paid-In Capital		Accumulated Deficit		Total
January 1, 2019	$	38,967	$	(18,929,915)	$	94,385,230	$	(33,043,113)	$	42,451,169
Stock-based compensation	—		—		309,563		—		309,563
Net loss	—		—		—		(2,175,258)		(2,175,258)
March 31, 2019	$	38,967	$	(18,929,915)	$	94,694,793	$	(35,218,371)	$	40,585,474
Stock issued	398		—		148,782		—		149,180
Stock-based compensation	—		—		580,603		—		580,603
Net loss	—		—		—		(2,695,792)		(2,695,792)
June 30, 2019	$	39,365	$	(18,929,915)	$	95,424,178	$	(37,914,163)	$	38,619,465

Treasury Stock

As of June 30, 2020 and December 31, 2019, there were 12,253,502 shares of common stock held in treasury, at a cost of approximately $18.9 million, representing the purchase price on the date the shares were surrendered to the Company.