Quarterly report pursuant to Section 13 or 15(d)

Stock based compensation, options and warrants (Tables)

v3.8.0.1
Stock based compensation, options and warrants (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock-Based Compensation
The Company recognized total expenses for stock-based compensation during the three months ended March 31, 2018 and 2017, which are included in the accompanying condensed consolidated statements of operations, as follows:

   
Three Months Ended March 31,
 
   
2018
   
2017
 
Selling, general and administrative expenses
 
$
883,943
   
$
133,043
 
    Total stock-based compensation
 
$
883,943
   
$
133,043
Schedule of Recognized Stock-based Compensation
The Company recognized total stock-based compensation expense during the three months ended March 31, 2018 and 2017, from the following categories:
 
   
Three Months Ended March 31,
 
   
2018
   
2017
 
Restricted stock awards under the Plan
 
$
766,949
   
$
30,431
 
Stock option awards under the Plan
   
116,994
     
63,806
 
Non-qualified stock option awards
   
-
     
38,806
 
    Total stock-based compensation
 
$
883,943
   
$
133,043
Summary of Stock Restricted Plan Activity
A summary of the Company’s restricted stock activity in the three months ended March 31, 2018 is presented here:
   
Number of Shares
   
Weighted Average Grant-Date
Fair Value
 
Unvested at January 1, 2018
   
496,152
   
$
5.97
 
Granted
   
292,500
     
13.08
 
Vested
   
(30,913
)
   
12.35
 
Forfeited
   
(26,563
)
   
10.58
 
Delivered
   
(50,000
)
   
4.50
 
Unvested at March 31, 2018
   
681,176
   
$
8.66
Summary of Stock Incentive Plan Activity
A summary of activity under the Plan for the three months ended March 31, 2018 is presented below:
 
   
Shares Underlying Options
   
Weighted Average Exercise Price
   
Weighted Average Remaining Contractual
Term (Years)
   
Aggregate Intrinsic Value
 
Outstanding at January 1, 2018
   
119,533
   
$
9.02
             
     Granted
   
50,000
   
$
18.50
             
     Exercised
   
(19,533
)
 
$
4.02
             
     Forfeited
   
-
   
$
-
             
Outstanding at March 31, 2018
   
150,000
   
$
12.83
     
9.7
   
$
-
 
                                 
Exercisable at March 31, 2018
   
108,333
   
$
10.65
     
9.6
   
$
-
Schedule of Nonqualified Award Activity
Following is a summary of outstanding options and warrants that were issued outside of the Plan for the three months ended March 31, 2018:
 
   
Shares Underlying Options/Warrants
   
Weighted Average Exercise Price
   
Weighted Average Remaining Contractual
Term (Years)
   
Aggregate Intrinsic Value
 
Outstanding at December 31, 2017
   
1,944,895
   
$
35.06
     
2.7
   
$
6,135,000
 
     Granted
   
-
     
-
                 
     Exercised
   
(113,009
)
 
$
3.50
                 
     Forfeited
   
-
     
-
                 
Outstanding at March 31, 2018
   
1,831,886
   
$
36.96
     
2.5
   
$
62,400
 
                                 
Exercisable at March 31, 2018
   
1,831,886
   
$
36.96
     
2.5
   
$
62,400