Annual report pursuant to Section 13 and 15(d)

Stock-Based Awards (Tables)

v3.8.0.1
Stock-Based Awards (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Fair Value Assumptions of Options

The fair value of the option grants was estimated on the date of grant using the Black-Scholes option pricing model that uses the assumptions noted in the following table.

 

    2017  
Weighted average fair value of stock options granted   $ 6.073  
Stock option assumptions:        
Risk-free interest rate     1.98 %
Expected term (in years)     5  
Expected volatility     379 %
Expected dividends     0 %

Schedule of Stock Option Award Activity

The following table summarizes stock option award activity during 2017:

 

    Stock Options  
    Shares     Weighted
Average
Exercise Price
    Weighted Average
Remaining Contractual
Life(In years)
   

Intrinsic Value

(In thousands)

 
Outstanding as of December 31, 2016                              
Granted     47,870     $ 8.72       8.4        
Options exercised                        
Canceled                        
Outstanding as of December 31, 2017     47,870       8.72       8.4       65  
                                 
Exercisable options as of December 31, 2017     12,750       8.0       4.9       24

Schedule of Warrants Outstanding

The Company accounts for common stock warrants as equity instruments As of December 31, 2017, warrants outstanding are as follows:

 

Issued to   Amount     Issue Date   Expiration Date   Exercise Price  
Investment Bank     79     12/9/2012   12/9/2019   $ 5.00  
Investment Bank     97     10/31/2014   10/31/2021   $ 5.00  
Equity Investors     99     9/8/2016   9/8/2021   $ 20.00  
Equity Investors     97     9/29/2016   9/29/2021   $ 20.00  
Term Note Lender     94     9/30/2016   9/30/2021   $ 20.00  
Equity Investors     104     10/12/2016   10/12/2021   $ 20.00  
Term Note Lender     100     11/11/2016   11/11/2021   $ 10.00  
Term Note Lender     150     1/3/2017   1/3/2022   $ 10.00  
Term Note Lender     140     11/8/2017   11/8/2022   $ 10.00  
Term Note Lender     20     11/8/2017   11/8/2022   $ 10.00  
      980                

Schedule of Warrants Activity

A summary of the warrant activity the years ended December 31, 2017 and 2016 is as follows:

 

          Weighted     Weighted        
          Average     Average     Aggregate  
    Number of     Exercise     Remaining     Intrinsic  
    Warrants     Price     Life in Years     Value  
Outstanding, December 31, 2016     670     $ 13.75       3.52     $  
Issued     310       10.00       4.58        
Exercised                        
Expired                        
Outstanding, December 31, 2017     980     $ 13.75             $  
Exercisable, December 31, 2017     980     $ 13.75       4.05     $