Stock-Based Compensation

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

Note 8. 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 six months ended June 30, 2019:

	Number of shares			Weighted average grant date fair value
Non–vested at January 1, 2019		3,355,000		$	1.46
Vested		(2,254,999	)	$	1.39
Non–vested at June 30, 2019		1,100,001		$	1.59

For the three months ended June 30, 2019 and 2018, the Company has recorded $730 and $1,247, in employee and director stock–based compensation expense, which is a component of general and administrative expenses in the consolidated statement of operations.

For the six months ended June 30, 2019 and 2018, the Company has recorded $1,624 and $2,334 in employee and director stock–based compensation expense, which is a component of general and administrative expenses in the consolidated statement of operations.

As of June 30, 2019, unamortized stock-based compensation costs related to restricted share arrangements was $843 and will be recognized over a weighted average period of 0.72 years.

Stock options

The following is a summary of the Company’s stock option activity for the six months ended June 30, 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 – June 30, 2019		6,000,000	$	0.71	$	1.29		0.59	$	–
Exercisable – June 30, 2019		6,000,000	$	0.71	$	1.29		0.59	$	–

As of June 30, 2019, there were no unrecognized compensation costs, as all outstanding stock options are fully vested.