Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2016

Summary of restricted stock unit activity

	Number of Shares			Weighted-Average Grant Date Fair Value
Balance of restricted stock units outstanding at December 31, 2015		—			—
Grants of restricted stock units		935,000		$	2.30
Vested restricted stock units		(45,000	)	$	(2.47	)
Balance of unvested restricted stock units at December 31, 2016		890,000		$	2.29

Summary of stock option

		December 31, 2015

Exercise Prices		$2.34
Risk-free interest rates		1.39%
Expected option life in years		5 years
Expected stock price volatility		30.24%
Expected dividend yield		0.00%

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	2,310,000	$1.29	2.76	2,310,000

Outstanding warrants to puchase shares

	2016

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