Stock Incentive Plan, Options and Warrants (Tables)

12 Months Ended

Dec. 31, 2018

Stock Incentive Plan, Options and Warrants [Abstract]

The following table summarizes the Company’s stock option activity for the years ended December 31, 2018, 2017 and 2016:


				Weighted-Average
				Remaining
	Number of	Weighted-Average		Contractual Life	Aggregate
	Options	Exercise Price		(in Years)	Intrinsic Value
	(in thousands, except share and per share data)
Outstanding - January 1, 2016	129,501	$	9.65	3.3	$	148
Granted	—		—
Exercised	—		—
Forfeited or Canceled	—		—
Outstanding - January 1, 2017	129,501	$	9.65	2.3	$	—
Granted	—		—
Exercised	—		—
Forfeited or Canceled	(45,500)		(11.49)
Outstanding - January 1, 2018	84,001	$	8.65	2.1	$	—
Granted	—		—
Exercised	—		—
Forfeited or canceled	(34,500)		(6.41)
Outstanding at December 31, 2018	49,501	$	10.22	2.3	$	—
Exercisable - December 31, 2018	49,501	$	10.22	2.3	$	—

Schedule of Nonvested Stock Options

A summary of the changes in the Company’s unvested stock options is as follows:


		Weighted-Average Grant Date
	Number of Options	Fair Value
Unvested - January 1, 2016	21,000	$	2.71
Granted	—		—
Vested	(16,000)		(2.94)
Forfeited or Canceled	—		—
Unvested - January 1, 2017	5,000	$	1.96
Granted	—		—
Vested	(5,000)		(1.96)
Forfeited or Canceled	—		—
Unvested - January 1, 2018	—	$	—
Granted	—		—
Vested	—		—
Forfeited or Canceled	—		—
Unvested - December 31, 2018	—	$	—

Schedule of Warrants Activity and Nonvested Warrants

The following table summarizes the Company’s outstanding warrants:


				Weighted-Average
				Remaining
	Number of	Weighted-Average		Contractual Life	Aggregate
	Warrants	Exercise Price		(in Years)	Intrinsic Value
	(in thousands, except share and per share data)
Outstanding - January 1, 2016	801,760	$	7.87	4.1	$	1,377
Granted	—		—
Exercised	—		—
Forfeited or Canceled	—		—
Outstanding - January 1, 2017	801,760	$	7.87	3.1	$	51
Granted	—		—
Exercised	—		—
Forfeited or Canceled	(31,600)		—
Outstanding - January 1, 2018	770,160	$	7.95	2.2	$	—
Granted	—		—
Exercised	—		—
Forfeited or canceled	(570,160)		6.07
Outstanding at December 31, 2018	200,000	$	13.32	6.4	$	—
Exercisable - December 31, 2018	200,000	$	13.32	6.4	$	—

A summary of the changes in the Company’s unvested warrants is as follows:


		Weighted-Average Grant Date
	Number of Warrants	Fair Value
Unvested - January 1, 2016	150,000	$	6.32
Granted	—		—
Vested	(100,000)		6.32
Forfeited or Canceled	—		—
Unvested - January 1, 2017	50,000	$	6.32
Granted	—		—
Vested	(50,000)		6.32
Forfeited or Canceled	—		—
Unvested - January 1, 2018	—	$	—
Granted	—		—
Vested	—		—
Forfeited or Canceled	—		—
Unvested - December 31, 2018	—	$	—

Schedule of Restricted Stock Activity

A summary of the time-based restricted stock activity for the years ended December 31, 2018, 2017 and 2016 is as follows:


				Weighted-Average
		Weighted-Average		Remaining
		Grant Date Fair		Contractual Life
	Number of Shares	Value		(in Years)

Unvested - January 1, 2016	410,653	$	8.81	1.8
Granted	80,903		5.57
Vested	(232,769)		8.08
Unvested - January 1, 2017	258,787	$	8.45	2.1
Granted	111,112		3.60
Vested	(174,363)		(6.73)
Unvested - January 1, 2018	195,536	$	7.23	1.8
Granted	235,296		1.70
Vested	(137,843)		5.25
Unvested - December 31, 2018	292,989	$	3.72	0.9

Schedule of Restricted Stock Units Activity

A summary of the time-based restricted stock unit activity for the years ended December 31, 2018, 2017 and 2016 is as follows:


				Weighted-Average
		Weighted-Average		Remaining
		Grant Date Fair		Contractual Life
	Number of Shares	Value		(in Years)

Unvested - January 1, 2016	100,000	$	14.33	3.0
Granted	260,000		7.03
Vested	(33,333)		(14.33)
Unvested - January 1, 2017	326,667	$	8.52	2.5
Granted	688,836		3.18
Vested	(219,103)		(8.29)
Forfeited or canceled	(60,000)		(4.89)
Unvested - January 1, 2018	736,400	$	3.89	2.2
Granted	2,678,743		1.77
Vested	(1,732,523)		(2.18)
Forfeited or canceled	(66,667)		(3.20)
Unvested - December 31, 2018	1,615,953	$	2.24	2.2

Schedule of Performance Stock Units Activity

A summary of the PSUs activity for the years ended December 31, 2018, 2017 and 2016 is as follows:


				Weighted-Average
		Weighted-Average		Remaining
		Grant Date Fair		Contractual Life
	Number of Shares	Value		(in Years)

Unvested - January 1, 2016	1,308,500	$	10.98	1.4
Granted	2,134,100		7.23
Vested	(317,833)		(9.58)
Forfeited or Cancelled	(321,400)		(11.89)
Unvested - January 1, 2017	2,803,367	$	8.18	2.4
Granted	716,600		3.17
Vested	(701,233)		(10.97)
Forfeited or Cancelled	(773,100)		(7.22)
Unvested - January 1, 2018	2,045,634	$	5.83	2.0
Granted	785,000		1.98
Vested	(350,408)		(4.71)
Forfeited or canceled	(260,408)		(7.32)
Unvested - December 31, 2018	2,219,818	$	4.47	0.8

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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