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Subsequent Events
3 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

NOTE 10– SUBSEQUENT EVENTS

 

On April 2, 2018, the Company awarded a total of 45,000 shares of restricted stock to Samuel A. Landy and Anna T. Chew, pursuant to their employment agreements. The grant date fair value of these restricted stock grants was $589,050. These grants vest ratably over 5 years.

 

On April 2, 2018, the Company granted options to purchase 540,000 shares of common stock to forty participants in the Company’s 2013 Stock Option and Stock Award Plan. The grant date fair value of these options amounted to $1,264,937. These grants vest over one year. Compensation costs for grants issued to a participant who is of retirement age is recognized at the time of the grant.