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Stock Based Compensation
9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Based Compensation

7. Stock Based Compensation

 

The Company recognizes share-based compensation at the fair value of the equity instrument on the grant date. Compensation expense is recognized over the required service period. Share-based compensation expenses were $334,238 and $315,000 for the three months ended September 30, 2018 and 2017, respectively. Share-based compensation expenses were $641,418 and $551,717 for the nine months ended September 30, 2018 and 2017, respectively.

 

As of September 30, 2018, there was a total of $2,337,200 of unrecognized compensation cost, adjusted for estimated forfeitures, related to non-vested share-based payments granted to the Company’s employees. As of that date, the remaining unamortized expense is expected to be recognized over a weighted average period of approximately three years.