XML 20 R28.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Stockholder's Equity (Tables)
 12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Assumptions Used in the Valuation
The assumptions used in the valuation of options granted under the 2017 Plan during the years ended December 31, 2019 and 2018 were as follows:
 
Year Ended December 31, 2019
Year Ended December 31, 2018
Market value of stock on measurement date
$11.26 to $15.65

$14.31 to $24.84

Risk-free interest rate
1.67 % to 2.57%

2.47 % to 3.05%

Dividend yield
—
%
—
%
Volatility factor
104% to 139%

121% to 324%

Term (years)
5.5 to 6.25

5.5 to 10.0
Schedule of Share-based Compensation, Stock Options, Activity
Stock option activity for options granted under the 2017 Plan during the years ended December 31, 2019 and 2018 is presented in the table below:

 
Number of
Shares Outstanding
 
Weighted-
average
Exercise
Price
 
Weighted-
average
Remaining
Contractual
Term
(years)
 
Aggregate
Intrinsic
Value
Outstanding at December 31, 2017
174,000

 
$
34.78

 
9.71
 
$
14,430

Granted
196,550

 
$
23.26

 
 
 
 
Expired
—

 
 
 
 
 
 
Forfeited
(27,000
)
 
$
24.84

 
 
 
 
Balance at December 31, 2018
343,550

 
$
28.97

 
8.95
 
840

Granted
193,700

 
$
13.82

 
 
 
 
Expired
—

 
 
 
 
 
 
Forfeited
(45,300
)
 
$
17.90

 
 
 
 
Balance at December 31, 2019
491,950

 
$
24.08

 
8.43
 
$
81,888

Stock option activity for the Pre-2017 Non-Qualified Stock Options for the years ended December 31, 2019 and 2018, 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, 2017
2,980,500

 
$
7.33

 
7.06
 
$
46,606,210

Exercised
(95,000
)
 
$
8.24

 
 
 
 
Forfeited
—

 
$
—

 
 
 
 
Outstanding at December 31, 2018
2,885,500

 
$
7.30

 
6.04
 
$
20,633,100

Exercised
(379,167
)
 
$
9.03

 
 
 
 
Forfeited
(5,833
)
 
$
10.00

 
 
 
 
Outstanding at December 31, 2019
2,500,500

 
$
7.03

 
5.05
 
$
18,426,235

Exercisable at December 31, 2019
2,454,390

 
$
6.98

 
5.10
 
$
18,212,329

 
Schedule of Nonvested Share Activity
A summary of the status of the Company's vested and non-vested Pre-2017 Non-Qualified Stock Options as of December 31, 2019 and 2018, are presented below:
 
Number of
Options

 
Weighted Average
Grant Date
Fair Value
 
Vested at December 31, 2018
150,552

 
$
7.92

 
Non-vested at December 31, 2018
138,350

 
$
7.84

 
 
 
 
 
 
Vested at December 31, 2019
86,407

 
$
7.84

 
Non-vested at December 31, 2019
46,110

 
$
7.71

 
 
A summary of the status of the Company’s vested and non-vested options granted under the 2017 Plan as of December 31, 2019 and 2018 are presented in the following table:

 
Number of
Shares
 
Weighted Average
Grant Date
Fair Value Per Share
Non-vested at December 31, 2018
288,047

 
$
27.62

Vested at December 31, 2018
55,503

 
$
34.66

 
 
 
 
Non-vested at December 31, 2019
299,590

 
$
20.35

Vested at December 31, 2019
192,360

 
$
27.67
Schedule of Nonvested Restricted Stock Units Activity
Restricted stock activity during the year ended December 31, 2019 is presented in the following table.

 
Number of Shares

 
Grant Date Fair Value Per Share
Restricted stock units outstanding and non-vested
27,000

 
$
14.51
Schedule of Share-based Compensation, Warrant Activity
Warrant activity for the years ended December 31, 2019 and 2018 is presented in the table below:

 
Number of
Warrants
 
Weighted-
average
Exercise
Price
 
Weighted-
average
Remaining
Contractual
Term
(years)
 
Aggregate
Intrinsic
Value
Outstanding at December 31, 2017
357,010

 
$
9.78

 
5.57
 
$
4,708,020

Exercised
(3,400
)
 
$
10.00

 
 
 
 
Outstanding at December 31, 2018
353,610

 
$
9.78

 
4.60
 
$
1,651,165

Exercised
(11,000
)
 
$
10.00

 
 
 
 
Outstanding at December 31, 2019
342,610

 
$
9.77

 
3.71
 
$
1,585,084