EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| EMPLOYEE STOCK OPTIONS, RESTRICTED STOCK AWARD PLAN AND 401(k) |
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| Schedule of Stock Options Activity |
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2020 |
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2019 |
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2018 |
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Weighted- |
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|
Weighted- |
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Weighted- |
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Average |
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|
Average |
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Average |
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|
Options |
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Exercise Price |
|
Options |
|
Exercise Price |
|
Options |
|
Exercise Price |
Outstanding at beginning of the year |
|
2,748,500 |
|
$ |
6.28 |
|
2,751,000 |
|
$ |
6.28 |
|
3,193,000 |
|
$ |
6.07 |
Issued |
|
— |
|
|
— |
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— |
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|
— |
|
— |
|
|
— |
Forfeited or rescinded |
|
(2,283,000) |
|
|
6.89 |
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(2,500) |
|
|
11.70 |
|
(249,000) |
|
|
6.09 |
Exercised |
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— |
|
|
— |
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— |
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|
— |
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(193,000) |
|
|
2.96 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding at end of year |
|
465,500 |
|
$ |
3.26 |
|
2,748,500 |
|
$ |
6.28 |
|
2,751,000 |
|
$ |
6.28 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Exercisable at end of year |
|
455,300 |
|
$ |
3.11 |
|
2,506,700 |
|
$ |
5.78 |
|
2,323,900 |
|
$ |
5.42 |
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| Schedule of Stock Options Outstanding |
The following table summarizes information related to the Company’s stock options outstanding as of December 31, 2020:
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Options Outstanding |
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Weighted- |
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Average |
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Remaining |
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Number |
|
Contractual Life |
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Number |
Exercise price |
|
Outstanding |
|
(in years) |
|
Exercisable |
2.00 |
|
395,000 |
|
2.92 |
|
395,000 |
5.50 |
|
5,000 |
|
2.20 |
|
5,000 |
14.54 |
|
10,000 |
|
3.73 |
|
10,000 |
8.00 |
|
4,500 |
|
3.92 |
|
4,500 |
6.42 |
|
15,000 |
|
5.34 |
|
12,000 |
11.75 |
|
36,000 |
|
5.95 |
|
28,800 |
|
|
465,500 |
|
3.25 |
|
455,300 |
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| Schedule of Restricted Stock Shares Activity |
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|
|
|
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# of shares of |
Grant date |
|
restricted stock |
April 4, 2018 |
|
2,000 |
September 27, 2018 |
|
2,500 |
December 26, 2018 |
|
615,380 |
April 9, 2019 |
|
10,400 |
May 30, 2019 |
|
5,000 |
July 9, 2019 |
|
5,000 |
September 13, 2019 |
|
10,000 |
December 21, 2019 |
|
627,205 |
October 1, 2020 |
|
900,000 |
October 26, 2020 |
|
150,000 |
December 15, 2020 |
|
930,000 |
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| Schedule of Restricted Stock Grants |
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2020 |
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2019 |
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2018 |
|
|
|
|
Weighted- |
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|
|
|
|
|
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|
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|
|
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Average |
|
|
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|
|
Grant |
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|
|
Weighted- |
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|
Weighted- |
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Date Fair |
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Average Grant |
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|
Average Grant |
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Restricted stock |
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Value |
|
Restricted stock |
|
Date Fair Value |
|
Restricted stock |
|
Date Fair Value |
Outstanding at beginning of the year |
|
1,341,889 |
|
$ |
4.99 |
|
878,360 |
|
$ |
7.33 |
|
330,900 |
|
$ |
13.44 |
Granted |
|
1,980,000 |
|
|
0.71 |
|
657,605 |
|
|
2.63 |
|
619,880 |
|
|
4.78 |
Forfeited or rescinded |
|
(9,200) |
|
|
3.97 |
|
(6,940) |
|
|
4.23 |
|
(7,800) |
|
|
13.44 |
Vested |
|
(1,180,392) |
|
|
4.97 |
|
(187,136) |
|
|
7.79 |
|
(64,620) |
|
|
13.44 |
Outstanding at end of year |
|
2,132,297 |
|
$ |
2.94 |
|
1,341,889 |
|
$ |
4.99 |
|
878,360 |
|
$ |
7.33 |
|
| Schedule of contributions expense |
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|
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2020 |
|
2019 |
Employer safe harbor match |
|
138,977 |
|
59,716 |
|