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Stock Based Compensation
6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
STOCK BASED COMPENSATION

NOTE 4 – STOCK BASED COMPENSATION

 

We use the fair value method to account for stock-based compensation. We recorded $907,109 and $712,998 in compensation expense in the six months ended June 30, 2019 and 2018, respectively, related to options issued under our stock-based incentive compensation plan. This includes expense related to options issued in prior years for which the requisite service period for those options includes the current period as well as options issued in the current period. The fair value of these instruments was calculated using the Black-Scholes option pricing model. There is $1,598,019 of remaining expense related to unvested options to be recognized in the future over a weighted average remaining period of less than one year.. The total intrinsic value of outstanding options at June 30, 2019 is $16,328,517.

 

The company also recorded expense related to restricted stock awards of $31,290 and $182,004 for the six months ended June 30, 2019 and 2018, respectively. As of June 30, 2019, there is $1,513,475 of remaining expense related to unvested restricted stock awards to be recognized in the future related to 140,000 shares of restricted stock awards that are unvested at June 30, 2019.