STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2020

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

(5)   STOCKHOLDERS’ EQUITY

Treasury Stock

On May 14, 2018, our Board of Directors approved a new program to buy back an additional $2.0 million of our common stock at prevailing market prices either in the open market or through privately negotiated transactions through May 13, 2019. For the three months ending March 31, 2019, the Company purchased 52,000 shares of our common stock for $0.2 million for an average price of $3.29 per share, related to the new program. From May 14, 2018 through March 31, 2019, the Company purchased 576,129 shares of our common stock for $1.8 million or an average price $3.20 per share.

Warrants

In October 2017, 150,000 common stock warrants were issued in exchange for professional services. In connection with the agreement entered into on March 28, 2016, with Triumph Bank, we issued a common stock warrant to purchase 50,000 shares of the Company's common stock.

A summary of stock warrant activity for the three months ended March 31, 2020 is presented below:

				Weighted
				Average
		Weighted		Remaining	Aggregate
	Number of	Average		Contractual	Intrinsic
	Warrants	Exercise		Life	Value
	(in thousands)	Price		(Years)	(in thousands)
Outstanding at December 31, 2019	100	$	2.63	4.77	$	525
Granted	—	$	—
Exercised	—	$	—
Forfeited	—	$	—
Outstanding and Exercisable at March 31, 2020	100	$	2.63	4.52	$	845