Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2015 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Note 17 - Subsequent Events
Common Stock
Subsequent to June 30, 2015 the Company issued 20,000 shares of common stock issued pursuant to the Company’s equity incentive plan under the terms of director services agreements which were fully vested upon the date of grant. The Company recorded an expense of $36,000 for the value of those shares.
Subsequent to June 30, 2015 the Company issued 1,361 shares of common stock to an employee who exercised employee stock options as a cashless exercise.
Options
Subsequent to June 30, 2015 the Company granted options for the purchase of 960,938 shares of common stock to employees and consultants of the Company. These options vest pro-rata over 48 months and have a life of 10 years and an exercise price of $1.75 per share. The Company valued the stock options using the Black-Scholes option valuation model and the fair value of the award was $741,000. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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