Stock-Based Compensation

3 Months Ended

Mar. 31, 2019

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Note 7. Stock–Based Compensation

Issuance of restricted common stock – directors, officers and employees

The Company’s activity in restricted common stock was as follows for the three months ended March 31, 2019:

	Number of shares			Weighted average grant date fair value
Non–vested at January 1, 2019		3,355,000		$	1.46
Vested		(704,999	)	$	1.63
Non–vested at March 31, 2019		2,650,001		$	1.41

For the three months ended March 31, 2019 and 2018, the Company has recorded $894 and $1,087, in employee and director stock–based compensation expense, which is a component of general and administrative expenses in the consolidated statement of operations and comprehensive loss.

As of March 31, 2019, unamortized stock-based compensation costs related to restricted share arrangements was $1,573, and will be recognized over a weighted average period of 0.54 years.

Stock options

The following is a summary of the Company’s stock option activity for the three months ended March 31, 2019:

	Options		Weighted average exercise price		Weighted average Grant date fair value		Weighted average remaining life		Intrinsic value
Outstanding – January 1, 2019		6,000,000	$	0.71	$	1.29
Granted		–
Exercised		–
Forfeited/Cancelled		–
Outstanding – March 31, 2019		6,000,000	$	0.71	$	1.29		0.84	$	–
Exercisable – March 31, 2019		6,000,000	$	0.71	$	1.29		0.84	$	–

As of March 31, 2019, there were no unrecognized compensation costs, as all outstanding stock options are fully vested.