Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

26. Share-Based Payment (Tables)

v3.19.1
26. Share-Based Payment (Tables)
12 Months Ended
Dec. 31, 2018
Sharebased Payment Tables Abstract  
Schedule of stock option activity

The following table summarizes the stock option activity for the years ended December 31, 2018, 2017 and 2016:

 

    Number of
shares
    Weighted
average
exercise price
per share
    Weighted
average
remaining
contractual
term
(in years)
    Aggregate
intrinsic
value
 
Outstanding at January 1, 2016     202,500     $ 2.759       5.00     $ 413,693  
Granted     313,000                   329,871  
Exercised                        
Cancelled     (31,250 )                  
Outstanding at December 31, 2016     484,250     $ 1.132       4.69     $ 743,564  
Granted                        
Exercised     (2,900 )                  
Cancelled     (7,500 )                 (2,400 )
Outstanding and exercisable at December 31, 2017     473,850     $ 1.132       3.85     $ 741,164  
Granted                        
Exercised                        
Cancelled     (655 )                    
Outstanding and exercisable at December 31, 2018     473,195     $ 1.132       2.85     $ 741,164  

Schedule of unvested stock option activity

The following table summarizes the unvested stock option activity during the period from January 1, 2016 to December 31, 2018:

 

    Number of shares  
Unvested January 1, 2016     134,302  
Granted     313,000  
Vested     (266,837 )
Cancelled     (31,250 )
Unvested December 31, 2016     149,215  
Granted      
Vested     (99,249 )
Cancelled     (7,500 )
Unvested December 31, 2017     42,466  
Granted      
Vested     (28,375 )
Cancelled     (655 )
Unvested December 31, 2018     13,436  

 

Schedule ofstock options using the Black-Scholes option-pricing model

The fair value assigned to the vested increments of these awards was estimated at the grant date of the stock options using the Black-Scholes option-pricing model with the following assumptions:

 

    Year ended
December 31,
2016
 
       
Stock price     $1.80 - $3.55  
Risk-free interest rate     0.94% - 2.10%  
Expected term (in years)     5.0  
Weighted average expected stock price volatility     34.28%  
Expected dividend yield     0%  
Weighted average grant-date fair value of options granted   $ 1.0539