Stock-Based Compensation

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2020:

	Number of shares			Weighted average grant date fair value
Non–vested at January 1, 2020		650,000		$	1.24
Granted		-		$	-
Vested		(583,333	)	$	1.48
Non–vested at September 30, 2020		66,667		$	0.04

For the three months ended September 30, 2020 and 2019, the Company has recorded $1 and $312, 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 nine months ended September 30, 2020 and 2019, the Company has recorded $222 and $1,936, 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 September 30, 2020, unamortized stock-based compensation costs related to restricted share arrangements was under $1.

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 September 30, 2020, there are no outstanding or exercisable stock options.