Stock Options and Warrants

3 Months Ended

Mar. 31, 2018

Stockholders' Equity Note [Abstract]

Stock Options and Warrants

The Company currently has two non-statutory stock option plans, the Fiscal 2001 Non-statutory Stock Option Plan (the “2001 Plan”) and the 2013 Equity Compensation Plan (the “2013 Plan”). Both plans have been adopted by our Board of Directors and approved by our shareholders. Both the 2001 Plan and the 2013 Plan have options available for future issuance. Any common shares issued as a result of the exercise of stock options would be new common shares issued from our authorized issued shares.

During the First Quarter 2018 and the First Quarter 2017, the Company issued 0 options to purchase shares of common stock.

Stock option activity for the First Quarter 2018 and the First Quarter 2017 is summarized as follows (the figures contained within the tables below have been rounded to the nearest thousand):

		First Quarter 2018						First Quarter 2017
	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of March 31, 2018		Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of March 31, 2017
Options outstanding at beginning of year		2,147,000	$	0.13				2,107,000	$	0.13
Granted		0	NA					0	NA
Exercised		0	NA					0	NA
Cancelled/expired		0	NA					0	NA
Options outstanding at end of year		2,147,000	$	0.13	$	15,000		2,107,000	$	0.13	$	15,000
Options exercisable at end of year		2,022,000	$	0.13				1,485,000	$	0.13

The Company recognized $4,000 in share based payment expense in the First Quarter 2018 and $11,000 in share based payment expense in the First Quarter 2017. At March 31, 2018 there was approximately $2,000 of total unrecognized share based payment expense related to stock options. This cost is expected to be recognized over 2 months.

Warrants

Warrant activity for the First Quarter 2018 and the First Quarter 2017 is summarized as follows:

		First Quarter 2018					First Quarter 2017
	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of March 31, 2018	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value as of March 31, 2017
Warrants outstanding at beginning of year		2,060,000	$	0.18			2,060,000	$	0.18
Granted		0	NA				0	NA
Exercised		0	NA				0	NA
Cancelled/expired		60,000	$	0.18			0	NA
Warrants outstanding at end of year		2,000,000	$	0.18	None		2,060,000	$	0.18	None
Warrants exercisable at end of year		2,000,000	$	0.18			2,060,000	$	0.18

In the First Quarter 2018 and First Quarter 2017, the Company recognized $0 in debt issuance and deferred finance costs related to the issuance of the above warrants outstanding. As of March 31, 2018, there was $0 of total unrecognized expense.