Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS, WARRANTS AND RESTRICTED STOCK UNITS

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STOCK OPTIONS, WARRANTS AND RESTRICTED STOCK UNITS
6 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK OPTIONS, WARRANTS AND RESTRICTED STOCK UNITS

NOTE 8 — STOCK OPTIONS, WARRANTS AND RESTRICTED STOCK UNITS

 

Restricted Stock Units (“RSU”)

 

The following table summarizes the restricted stock activity for the six months ended June 30, 2017:

 

Restricted shares units issued as of December 31, 2016     660,000  
Granted      
Forfeited      
Total Restricted Shares Issued at June 30, 2017     660,000  
Vested at June 30, 2017      
Unvested restricted shares as of June 30, 2017     660,000  

 

At June 30, 2017, the Company determined that there is a 100% probability the performance based restricted stock units will be earned. The fair value of all restricted stock units vesting during the three and six months ended June 30, 2017 of $63,324 and $126,647, respectively, was charged to current period operations. Stock-based compensation expense related to restricted stock units was $-0- for the three and six months ended June 30, 2016. 

 

As of June 30, 2017, stock-based compensation related to restricted stock awards of $425,506 remains unamortized and is expected to be amortized over the weighted average remaining period of 1.88 years.