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4. COMMON STOCK
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
COMMON STOCK

4.     COMMON STOCK

 

At June 30, 2019, the Company's authorized capital stock was 150,000,000 shares of common stock, par value $0.001 per share, and 25,000,000 shares of preferred stock, par value $0.001 per share. As of that date, the Company had 47,556,912 shares of common stock, and no shares of preferred stock.

 

2019 Transactions: During the three and six months ended June 30, 2019, the Company issued a total of 825,000 and 1,116,147, respectively, for restricted stock awards previously granted, earned and vested.

 

In February 2019, the Company issued a total of 291,147 shares of common stock to three individuals for restricted stock awards previously granted, earned and vested.

 

In April 2019, the Company issued a total of 500,000 shares of common stock to four individuals for stock awards previously granted, earned and vested.

 

In May 2019, the Company issued a total of 100,000 shares of common stock to three individuals for stock awards previously granted, earned and vested.

 

In June 2019, the Company issued a total of 225,000 shares of common stock to three individuals for stock awards previously granted, earned and vested.

 

2018 Transactions: During the six months ended June 30, 2018, the Company did not issue any shares of common stock. 

 

Stock and Warrant Grants:

 

In May 2019 and June 2019, the Company granted three employees a total of 145,000 shares of common stock. The shares were valued for a total of $1,426,450 based on the average closing stock price per share of $9.84 at the date of grants. The 145,000 shares have an annual vesting period of five years with the first vesting period occurring on June 30, 2020 with vesting start date for each grant of July 1, 2019.

 

In April 2019, the Company granted an employee a total of 50,000 shares of common stock. The shares were valued at $377,000 based on the closing stock price per share of $7.54 at the date of grant. The 50,000 shares have an annual vesting period of five years with the first vesting period occurring on April 30, 2020.

 

From 2016 to 2018, excluding employee terminations, the Company granted a total of 8,690,000 shares of common stock and 2,688,000 stock options. The shares were valued at $6,419,849 or an average price per share of $.74. The stock options were valued at $4,172,996 an average price per share of $1.55, collectively vesting over a three to five year period. The amount expensed related to these grants for the three and six months ended June 30, 2019 $646,710 and $1,214,620, respectively. The amount expensed for the three and six months ended June 30, 2018 totaled $137,401 and $349,582, respectively.