Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2017

Summary of restricted stock unit activity

	Number of Shares			Weighted-Average Grant Date Fair Value
Balance of restricted stock units outstanding at December 31, 2016		890,000		$	2.29
Grants of restricted stock units		40,500			3.80
Vested restricted stock units		(110,500	)		2.96
Balance of unvested restricted stock units at December 31, 2017		820,000		$	2.28

Schedule of stock option activity

	2017					2016
				Weighted					Weighted
				Average					Average
	Options			Exercise		Options			Exercise
	Outstanding			Price		Outstanding			Price

Options outstanding at beginning of year		2,310,000		$	1.29		2,855,000		$	1.33
Granted		―			―		―			―
Expired		—			—		(15,000	)	$	1.31
Exercised		(300,000	)	$	1.31		(530,000	)	$	1.53

Options outstanding at end of year		2,010,000		$	1.28		2,310,000		$	1.29

Options exercisable at end of year		2,010,000		$	1.28		2,310,000		$	1.29

Summary of information of stock options outstanding and exercisable

			Weighted
		Weighted	Average
Range of		Average	Remaining
Exercise	Options	Exercise	Life in	Options
Price	Outstanding	Price	Years	Exercisable

$0.83 - $2.34	2,010,000	$1.28	2.10	2,010,000

Outstanding warrants purchase shares


Number of Warrants	Exercise Price	Expiration Date

250,000	$2.10	May 21, 2018
125,000	$2.10	July 26, 2018
375,000

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details