Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.7.0.1
Stock-Based Compensation
3 Months Ended
Mar. 31, 2017
Stock-Based Compensation [Abstract]  
STOCK-BASED COMPENSATION

12. STOCK-BASED COMPENSATION

 

Restricted Stock

 

The following table summarizes the Company’s restricted stock activity during the three months ended March 31, 2017:

 

          Weighted Average  
    Number of     Grant Date  
    Shares     Fair Value  
Outstanding at January 1, 2017     2,888,388     $ 1.64  
Granted     5,200,000     $ 0.02  
Vested     (918,167 )   $ 0.59  
Forfeited/Cancelled     (327,919 )   $ 0.92  
Exercised     -     $ -  
Oustanding at March 31, 2017     6,842,302     $ 0.58  

 

For the three months ended March 31, 2017 and 2016, the Company incurred $13 and $71, respectively, in stock compensation expense from the issuance of common stock to employees and consultants. 

 

The Company recorded an additional $487 and $677 in stock compensation expense on shares subject to vesting terms in previous periods during the quarters ended March 31, 2017 and 2016, respectively.

 

Options

 

There were no options granted during the three months ended March 31, 2017 or 2016.

 

The following table summarizes the Company’s stock option activity and related information for the three months ended March 31, 2017:

 

          Weighted Average        
    Shares Underlying Options     Exercise Price     Remaining Contractual Term
(in years)
    Aggregate Intrinsic Value 
(in thousands)
 
Outstanding at January 1, 2017     175,000     $ 3.72       5.29     $ 646  
Granted     -       -       -       -  
Forfeited and expired     -       -       -       -  
Exercised     -       -       -       -  
Outstanding at March 31, 2017     175,000     $ 3.72       5.05     $ -  
Exercisable at March 31, 2017     166,667     $ 3.72       5.05     $ -  

 

The aggregate intrinsic value for outstanding options is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock as of March 31, 2017 and December 31, 2016 of $0.03 and $0.03, respectively.