XML 51 R38.htm IDEA: XBRL DOCUMENT v3.19.1
Mezzanine and Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2018
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The stock options under the Exclusivity Amendment Agreement were accounted for at fair value, as determined using the Black-Scholes option pricing model and the following assumptions:
  
Year ended December 31,
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Expected term
 
0.75 years
 
 
0.93
-
1.75
years
 
Expected volatility
 
38.10% - 41.60
%
 
38.10
% -
41.60
%
Risk-free interest rate
 
1.64% - 1.86
%
 
1.64
% -
1.86
%
Market value of common stock
 
$0.52 - $0.76
 
 
$
0.52
- $
0.76
 
Annual dividend yield
 
2.23% - 3.53
%
 
2.23
% -
3.53
%
Forfeiture rate
 
0% - 6.8
%
 
0
% -
6.8
%
Summary of Share-Based Compensation Expense of Stock Option Awards Granted
Share-based compensation expense related to option awards granted to primary care physicians with Exclusivity Agreements to purchase shares of APC’s common stock, are recognized over their respective vesting periods, and consisted of the following:
 
Year ended December 31,
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Share-based compensation expense:
 
 
 
 
 
 
 
 
General and administrative
 
 
809,528
 
 
 
2,113,116
 
 
 
 
 
 
 
 
 
 
 
 
$
809,528
 
 
$
2,113,116
 
Warrants Outstanding
The Company’s outstanding warrants consisted of the following:
 
 
 
Shares
 
 
Weighted

Average

Exercise

Price
 
 
Weighted

Average

Remaining

Contractual

Term

(Years)
 
 
Aggregate

Intrinsic

Value
 
 
 
 
 
 
 
 
 
 
 
 
 (In Millions)
 
Warrants outstanding at January 1, 2017
 
 
-
 
 
$
-
 
 
 
-
 
 
$
-
 
Warrants assumed in the Merger
 
 
1,898,541
 
 
$
9.06
 
 
 
2.69
 
 
$
1.8
 
Warrants granted (see Note 3)
 
 
1,750,000
 
 
 
10.49
 
 
 
5.00
 
 
 
-
 
Warrants outstanding at December 31, 2017
 
 
3,648,541
 
 
$
9.75
 
 
 
3.74
 
 
$
52.0
 
Warrants granted
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Warrants exercised
 
 
(286,357
)
 
 
7.84
 
 
 
-
 
 
 
3.0
 
Warrants forfeited
 
 
(30,189
)
 
 
4.50
 
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Warrants outstanding at December 31, 2018
 
 
3,331,995
 
 
$
9.93
 
 
 
2.97
 
 
$
33.1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
 
 
 
 
Average
 
 
 
 
 
Exercise Price
 
Exercise Price Per
 
 
Warrants
 
 
Remaining
 
 
Warrants
 
 
Per
 
Share
 
 
Outstanding
 
 
Contractual Life
 
 
Exercisable
 
 
Share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
9.00
 
 
 
1,079,622
 
 
 
1.79
 
 
 
1,079,622
 
 
$
9.00
 
 
10.00
 
 
 
1,421,508
 
 
 
3.29
 
 
 
1,421,508
 
 
 
10.00
 
 
11.00
 
 
 
830,865
 
 
 
3.94
 
 
 
830,865
 
 
 
11.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
9.00 –10.00
 
 
 
3,331,995
 
 
 
2.97
 
 
 
3,331,995
 
 
$
9.92
 
Exclusivity Amendment Agreement, APC [Member]  
Stock Option Transactions Under Stock Option Plans
Outstanding stock options granted to primary care physicians to purchase shares of APC’s common stock consisted of the following:
  
 
 
Shares
 
 
Weighted

Average

Exercise

Price
 
 
Weighted

Average

Remaining

Contractual

Term

(Years)
 
 
Aggregate

Intrinsic

Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding at January 1, 2017
 
 
1,910,400
 
 
$
0.167
 
 
 
2.75
 
 
$
1,138,598
 
Options granted
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Options exercised
 
 
(1,056,600
)
 
 
0.167
 
 
 
-
 
 
 
(629,734
)
Options forfeited
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Options outstanding at December 31, 2017
 
 
853,800
 
 
$
0.167
 
 
 
1.75
 
 
$
508,864
 
Options granted
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Options exercised
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Options forfeited
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding at December 31, 2018
 
 
853,800
 
 
$
0.167
 
 
 
0.75
 
 
$
508,864
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options exercisable at December 31, 2018
 
 
853,800
 
 
$
0.167
 
 
 
0.75
 
 
$
508,864
 
Employee Stock Option [Member]  
Stock Option Transactions Under Stock Option Plans
The Company’s outstanding stock options consisted of the following:
 
 
 
Shares
 
 
Weighted

Average

Exercise Price
 
 
Weighted

Average

Remaining

Contractual

Term

(Years)
 
 
Aggregate

Intrinsic

Value
(in millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding at January 1, 2017
 
 
-
 
 
$
-
 
 
 
-
 
 
$
-
 
Options assumed in the Merger (see Note 3)
 
 
1,141,040
 
 
 
3.95
 
 
 
5.85
 
 
 
22.6
 
Options granted
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Options exercised
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Options forfeited
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Options outstanding at December 31, 2017
 
 
1,141,040
 
 
$
3.95
 
 
 
5.79
 
 
$
22.6
 
Options granted
 
 
155,000
 
 
 
9.85
 
 
 
-
 
 
 
-
 
Options exercised
 
 
(639,800
)
 
 
4.11
 
 
 
-
 
 
 
9.8
 
Options forfeited
 
 
(9,000
)
 
 
3.41
 
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding at December 31, 2018
 
 
647,240
 
 
$
5.62
 
 
 
4.13
 
 
$
9.2
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Options exercisable at December 31, 2018
 
 
647,240
 
 
$
5.62
 
 
 
4.13
 
 
$
9.2