Common Stock

12 Months Ended

Dec. 31, 2018

Text Block [Abstract]

Common Stock

8. Common Stock

As of December 31, 2018 and 2017, the Company authorized 120,000,000 shares of common stock with a par value of $0.0001 per share.

Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are entitled to receive dividends, as may be declared by the Board of Directors, if any. As of December 31, 2018 and 2017, no dividends have been declared.

During the year ended December 31, 2018, the Company received 2,073 shares of the Company’s common stock from an employee as proceeds for an exercise of stock options.  The total cost of shares held in treasury at December 31, 2018 was $211,000.  

During the year ended December 31, 2017, the Company received 614 shares of the Company’s common stock from an employee as proceeds for an exercise of stock options.  The total cost of shares held in treasury at December 31, 2017 was $113,000.

During the year ended December 31, 2016, the Company received 346 shares of the Company’s common stock from an employee as proceeds for an exercise of stock options.  The total cost of shares held in treasury at December 31, 2016 was $17,000.