SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION (Tables)
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12 Months Ended |
Jun. 30, 2019 |
SHAREHOLDERS' EQUITY AND STOCK-BASED COMPENSATION [Abstract] |
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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 | |
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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 | |
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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 | |
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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 | |
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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 | |
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