Total Equity

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Total Equity

NOTE 10. TOTAL EQUITY

A summary of changes in total equity for the nine months ended September 30, 2020 and 2019 is presented below:

	Common Stock				Additional Paid-in		Accumulated			Total Shareholders
	Shares		Par Value		Capital		Deficit			Equity
Balance - December 31, 2019		25,418,126	$	25,418	$	40,069,391	$	(32,991,833	)	$	7,102,976
Stock-based compensation expense		199,360		199		369,644		-			369,843
Net loss		-		-		-		(2,774,732	)		(2,774,732	)
Balance - September 30, 2020		25,617,486	$	25,617	$	40,439,035	$	(35,766,565	)	$	4,698,087

	Common Stock				Additional Paid-in		Accumulated			Total Shareholders
	Shares		Par Value		Capital		Deficit			Equity
Balance - December 31, 2018		25,018,098	$	25,018	$	39,440,611	$	(32,055,410	)	$	7,410,219
Stock-based compensation expense		79,652		80		473,637		-			473,717
Net loss		-		-		-		(1,061,058	)		(1,061,058	)
Balance - September 30, 2019		25,097,750	$	25,098	$	39,914,248	$	(33,116,468	)	$	6,822,878

On August 7, 2020, the Board of Directors recommended and the Company’s shareholders approved an additional 2,543,448 shares of the Company’s common stock to be added to the 2015 Incentive Plan. Subject to adjustment as provided in the 2015 Incentive Plan, the maximum aggregate number of shares of the Company’ s common stock that may be issued with respect to awards under the 2015 Incentive Plan is 5,536,353.

Also on  August 7, 2020, the Board of Directors granted 259,765 restricted stock units to Troy Meier, Chairman and Chief Executive Officer, 199,219 restricted stock units to Annette Meier, President and Chief Operating Officer, 140,625 restricted stock units to Chris Cashion, Chief Financial Officer, and 87,891 restricted stock units to each of the three independent members of the Board of Directors. In addition, the Board of Directors authorized 675,000 restricted stock units to be granted to employees of the company other than Mr. and Mrs. Meier and Mr. Cashion.  These restricted stock units will vest over three years from the date of grant.