Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.3.1.900
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The aggregate compensation cost of RSUs recorded under the 2014 Plan was $628,792 and $258,878 for the years ended December 31, 2015 and 2014 and recorded as follows:
 
 
 
Year ended December 31,
 
Stock-based compensation included in the Consolidated Statement of Operations:
 
2015
 
2014
 
Direct operating costs
 
$
21,267
 
$
5,090
 
General and administrative
 
 
581,040
 
 
253,788
 
Research and development
 
 
22,226
 
 
-
 
Selling and marketing
 
 
4,259
 
 
-
 
      Total stock-based compensation expense
 
$
628,792
 
$
258,878
 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
The following table summarizes the RSU transactions under the 2014 Plan for the years ended December 31, 2014 and December 31, 2015:
 
 
 
Shares
 
Outstanding and unvested at January 1, 2014
 
 
-
 
Granted
 
 
513,500
 
Vested
 
 
-
 
Forfeited
 
 
(31,250)
 
Outstanding and unvested at December 31, 2014
 
 
482,250
 
Granted
 
 
221,600
 
Vested
 
 
(193,367)
 
Forfeited
 
 
(123,750)
 
Outstanding and unvested at December 31, 2015
 
 
386,733
 
Schedule of Unrecognized Compensation Cost, Available for Grant [Table Text Block]
The following table summarizes the RSU activity during the years ended December 31, 2015 and 2014 and the amount available for grant at December 31, 2015:
 
 
 
Shares
 
Shares authorized under the 2014 Plan
 
 
1,351,000
 
RSUs issued
 
 
(513,500)
 
RSUs forfeited
 
 
31,250
 
Shares available for grant at December 31, 2014
 
 
868,750
 
RSUs issued
 
 
(221,600)
 
RSUs forfeited
 
 
123,750
 
Shares available for grant at December 31, 2015
 
 
770,900