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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Share-based Compensation, Stock Options, Activity [Table Text Block]

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2019

 

Weighted

 

 

 

 

 

 

 

Weighted

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

Number of

 

Exercise

 

Contract

 

Intrinsic

 

    

Stock Options

    

Price

    

Term (Yrs.)

    

Value

Total outstanding at December 31, 2018

 

662,500

 

$

7.52

 

3.34

 

$

332,100

Granted

 

490,000

 

 

8.30

 

4.40

 

 

 —

Forfeited

 

(103,334)

 

 

9.66

 

3.72

 

 

 —

Exercised

 

(16,666)

 

 

9.61

 

3.24

 

 

 —

Expired

 

 —

 

 

 —

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2019

 

1,032,500

 

$

7.73

 

3.60

 

$

1,987,425

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable at September 30, 2019

 

629,170

 

$

7.29

 

2.77

 

$

1,484,753

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

 

Weighted Average Assumptions:

    

2019

    

2018

 

Expected dividend yield

 

 

0.0

%  

 

0.0

%

Expected equity volatility

 

 

56.1

%  

 

57.1

%

Expected term (years)

 

 

 5

 

 

 5

 

Risk-free interest rate

 

 

2.22

%  

 

2.10

%

Exercise price per stock option

 

$

7.73

 

$

7.52

 

Market price per share

 

$

7.27

 

$

6.46

 

Weighted average fair value per stock option

 

$

3.51

 

$

3.10