NOTE 12. STOCK BASED AWARDS

Effective on November 8, 2017, the Company’s Board of Directors adopted the 2017 Omnibus Incentive Plan (“2017 Plan”) which provides for up to an additional 3,000,000 common stock shares available for issuance to provide for long-term incentive for officers, employees directors and/or consultants to directly link incentives to stockholder value. The Company’s 2017 Plan provides for awards of common stock in the form of incentive stock options, non-qualified stock options, SARs, restricted stock, performance shares or other stock-based awards. The 2017 Plan was approved by written consent by stockholders holding a majority of voting power. Awards are discretionary and are determined by a majority of the independent directors of the Board of Directors. The exercise price of stock options are equal to the fair market value of the underlying Common Stock on the date of grant. The options vest on the anniversary of the grant over a four-year term.

The following table summarizes stock option award activity during the three months ended March 31, 2018:

Stock compensation expense related to the options totaled approximately $15 and $-0- for the three months ended March 31,2018 and 2017.

As of March 31, 2018, the Company had unrecognized compensation expense related to stock options, of $197. This expense will be recognized over a weighted-average number of years of 3.5, based on the average remaining service periods for the awards.

The aggregate intrinsic values presented above represent the total pre-tax intrinsic values (the difference between the Company’s closing stock price of $19.78 on the last trading day, March 29, 2018 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on the last trading day of the first quarter of 2018. The amount of aggregate intrinsic value will change based on the price of the Company’s Common Stock.

There were no additional stock options granted, exercised or forfeited for the three months ended March 31, 2018.

Warrants

A summary of the warrant activity for the three months ended March 31, 2018 is as follows: