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12 RESTRICTED STOCK UNITS:
6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
RESTRICTED STOCK UNITS:

 

NOTE 12.         RESTRICTED STOCK UNITS:

 

On August 4, 2015, the Company issued restricted stock units for the right to receive, at settlement, 83,189 shares of common stock. Prior to this issuance there had been no restricted stock unit grants. This tranche of restricted stock units is valued at $3.51 or market value on the date of the grant and vest over 1 year. The value on the grant date of the restricted stock units was $291,994 and the restricted stock units expense for June 30, 2016 and June 30, 2015 was determined to be $309,149 and $0, respectively. As of June 30, 2016, no restricted stock units were vested.

 

On May 10, 2016, the Company issued restricted stock units for the right to receive, at settlement, 500,000 shares of common stock. This tranche of restricted stock units is valued at $7.00 or market value on the date of the grant and vest over 3 years. The value on the grant date of the restricted stock units was $3.5 million and the restricted stock units expense for June 30, 2016 and June 30, 2015 was determined to be $163,014 and $0, respectively. As of June 30, 2016, no restricted stock units were vested.

 

On June 28, 2016, the Company issued restricted stock units for the right to receive, at settlement, 7,680 shares of common stock. Prior to this issuance there had been no restricted stock unit grants. This tranche of restricted stock units is valued at $6.51 or market value on the date of the grant and vest over 1 year. The value on the grant date of the restricted stock units was $49,997 and the restricted stock units expense for June 30, 2016 and June 30, 2015 was determined to be $137 and $0, respectively. As of June 30, 2016, no restricted stock units were vested.