Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Share-based Compensation, Stock Options, Activity

Stock option activity for the Pre-2017 Non-Qualified Stock Options for the nine months ended September 30, 2019 is presented in the table below:

	Number of Shares		Weighted- average Exercise Price		Weighted- average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2018	2,885,500		$	7.30	6.04	$	20,633,100
Exercised	(290,139	)	8.87
Forfeited	(10,143	)	10.00
Outstanding at September 30, 2019	2,585,218		$	7.12	5.37	$	20,509,476
Exercisable at September 30, 2019	2,522,440		$	7.06	5.40	$	20,164,667

Warrant activity for the nine months ended September 30, 2019 is presented in the table below:

	Number of Shares	Weighted- average Exercise Price		Weighted- average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2018	353,610	$	9.78	3.85	$	1,863,331
Exercised	—	$	—
Outstanding at September 30, 2019	353,610	$	9.78	3.85	$	1,863,331
Exercisable at September 30, 2019	353,610	$	9.78	3.85	$	1,863,331

Stock option activity for options granted under the 2017 Plan during the nine months ended September 30, 2019 is presented in the table below:

	Number of Options Outstanding		Weighted-average Exercise Price		Weighted-average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Balance at December 31, 2018	343,550		$	28.97	8.95	$	840
Annual additional options authorized	—		—
Granted	184,700		$	13.88
Exercised	—		—
Forfeited	(19,812	)	$	18.72
Balance at September 30, 2019	508,438		$	23.89	8.68	$	208,166

Schedule of Nonvested Share Activity

A summary of the status of the Company’s non-vested Pre-2017 Non-Qualified Stock Options as of September 30, 2019 is presented below:

	Number of Options	Weighted Average Grant Date Fair Value
Non-vested at September 30, 2019	62,778	$	7.79

A summary of the status of the Company’s non-vested options granted under the 2017 Plan as of September 30, 2019 is presented in the following table:

	Number of Shares		Weighted Average Grant Date Fair Value Per Share
Balance at September 30, 2019	508,438		$	24.29
Vested	(170,858	)	27.90
Non-vested at September 30, 2019	337,580		$	20.56

Schedule of Assumptions Used in the Valuation

The assumptions used in the valuation of options granted under the 2017 Plan during the nine months ended September 30, 2019 are as follows:

	For the Nine Months Ended September 30, 2019
Market value of stock on measurement date	$11.26 to $14.62
Risk-free interest rate	1.73% to 2.57%
Dividend yield	—
Volatility factor	105% to 121%
Term	5.50 to 6.25 Years

Schedule of Nonvested Restricted Stock Units Activity

During the three months ended September 30, 2019, the Company issued 27,000 shares of restricted stock units, and the related activity is presented in the following table.

	Number of Shares	Grant Date Fair Value Per Share
Restricted stock units outstanding and non-vested at September 30, 2019	27,000	$	14.51