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SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Jun. 30, 2019
SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION [Abstract]  
Stock Based Compensation
The following table summarizes the components of the Company’s stock-based compensation included in net income (loss) for the periods presented:

  
Year Ended
June 30,
2019
  
Six Months
Ended
June 30,
2018
  
Year Ended
December 31,
2017
 
Employee stock options
 
$
235,984
  
$
142,096
  
$
336,534
 
Restricted stock awards
  
266,821
   
93,537
   
106,948
 
Totals
 
$
502,805
  
$
235,633
  
$
443,482
 
Stock Option Activity
The following is a summary of the stock option activity for the fiscal year ended June 30, 2019, the transition period ended June 30, 2018 and the calendar year ended December 31, 2017:

  
Shares
  
Weighted
Average
Exercise
Price
 
Outstanding at December 31, 2016
  
2,134,898
  
$
1.99
 
Granted
  
836,369
  
$
0.94
 
Forfeited
  
(103,000
)
 
$
1.22
 
Expired
  
(491,002
)
 
$
2.95
 
Outstanding at December 31, 2017
  
2,377,265
  
$
1.46
 
Granted
  
216,157
  
$
1.27
 
Forfeited
  
(173,750
)
 
$
1.05
 
Expired
  
(31,503
)
 
$
2.17
 
Outstanding at June 30, 2018
  
2,388,169
  
$
1.46
 
Granted
  
285,025
  
$
1.00
 
Exercised
  
(52,500
)
  
1.21
 
Forfeited
  
(30,000
)
 
$
1.20
 
Expired
  
(67,056
)
 
$
1.71
 
Outstanding at June 30, 2019
  
2,523,638
  
$
1.41
 
Weighted Average Assumptions for Stock Options Granted
The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option pricing model with the following weighted average assumptions for stock options granted during the periods presented:

  
Year Ended
June 30,
2019
  
Six Months Ended
June 30,
2018
  
Year Ended
December 31,
2017
 
Dividend yield
  
0.0
%
  
0.0
%
  
0.0
%
Expected volatility
  
61.0
%
  
62.8
%
  
63.4
%
Risk-free interest rate
  
3.09
%
  
2.76
%
  
1.90
%
Expected lives (years)
  
5.5
   
5.4
   
5.5
 
Information About Stock Options Outstanding
The following tables summarize information in connection with stock options outstanding at June 30, 2019:

Options Outstanding
  
Options Exercisable
  
Options Vested or Expected to Vest
 
Balance
as of
6/30/2019
  
Weighted
Average
Remaining
Contractual
Life
(Years)
  
Weighted
Average
Exercise
Price
  
Balance
as of
6/30/2019
  
Weighted
Average
Remaining
Contractual
Life
(Years)
  
Weighted
Average
Exercise
Price
  
Balance
as of
6/30/2019
  
Weighted
Average
Remaining
Contractual
Life
(Years)
  
Weighted
Average
Exercise
Price
 
2,523,638
   
6.95
  
$
1.41
   
2,053,613
   
6.51
  
$
1.49
   
2,460,292
   
6.91
  
$
1.42
 
Restricted Stock Activity
The following is a summary of the restricted stock activity for the fiscal year ended June 30, 2019, the transition period ended June 30, 2018 and the calendar year ended December 31, 2017:

  
Shares
  
Weighted
Average
Grant Date
Fair Value
 
Unvested at December 31, 2016
  
359,400
  
$
0.91
 
Granted
  
420,000
  
$
1.11
 
Vested
  
(214,200
)
 
$
0.92
 
Canceled
  
(209,783
)
 
$
0.96
 
Unvested at December 31, 2017
  
355,417
  
$
1.11
 
Granted
  
264,000
  
$
1.25
 
Vested
  
(216,488
)
 
$
1.11
 
Canceled
  
(138,929
)
 
$
1.11
 
Unvested at June 30, 2018
  
264,000
  
$
1.25
 
Granted
  
129,500
  
$
1.07
 
Vested
  
(154,396
)
 
$
1.20
 
Canceled
  
(109,604
)
 
$
1.31
 
Unvested at June 30, 2019
  
129,500
  
$
1.08