Stock Options |
9 Months Ended |
|---|---|
Sep. 30, 2016 | |
| Stock Options. | |
| Stock Options |
8. Stock Options
The Company granted stock options to purchase 542,250 shares of its common stock pursuant to the 2010 Plan for the nine months ended September 30, 2016. Stock-based compensation expense was $293,575 and $334,593 for the three months ended September 30, 2016 and 2015, respectively and $1,046,364 and $1,031,218 for the nine months ended September 30, 2016 and 2015, respectively. From August 2015 through March 2016, we issued 739,000 stock options to certain officers, directors and employees under the 2010 Plan. The options were subject to shareholder approval to increase the number of shares authorized under the plan. On May 26, 2016, the shareholder approval was obtained and as a result we recognized stock-based compensation of $272,240 related to these options for the three months ended June 30, 2016. Total future stock compensation expense related to nonvested awards is expected to be approximately $2,761,000 at September 30, 2016. |