Stock-Based Compensation

3 Months Ended

Mar. 31, 2020

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 three months ended March 31, 2020:

	Number of shares			Weighted average grant date fair value
Non–vested at January 1, 2020		650,000		$	1.24
Granted		-		$	-
Vested		(383,333	)	$	1.46
Non–vested at March 31, 2020		266,667		$	0.94

For the three months ended March 31, 2020 and 2019, the Company has recorded $220 and $894, 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 March 31, 2020, unamortized stock-based compensation costs related to restricted share arrangements was $3 and will be recognized over a weighted average period of 0.22 years.

Stock options

As of December 31, 2019, the Company had 6,000,000 stock options with a weighted average exercise price of $0.71 and a weighted average grant date fair value of $1.29. All the stock options were fully vested and there were no unrecognized costs. Under the terms of the stock option agreement, all options expired on January 31, 2020. As of March 31, 2020, there are no outstanding or exercisable stock options.