Quarterly report pursuant to Section 13 or 15(d)

SHARE BASED AWARDS, RESTRICTED STOCK AND RESTRICTED STOCK UNITS (RSUs) (Tables)

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SHARE BASED AWARDS, RESTRICTED STOCK AND RESTRICTED STOCK UNITS (RSUs) (Tables)
6 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of activity related to RSUs

A summary of the activity related to RSUs for the three months ended June 30, 2016 and 2015 is presented below:

 

Restricted stock units (RSU’s)   Total shares     Grant date fair
value
 
RSU’s non-vested at January 1, 2016     152,823       $0.51 - $1.88  
RSU’s granted     14,285,714       $0.007  
RSU’s vested     (125,431 )     $0.51- $1.88  
RSU’s forfeited           $—  
                 
RSU’s non-vested June 30, 2016     14,313,106       $0.51 - $1.88  

 

Restricted stock units (RSU’s)   Total shares     Grant date fair
value
 
RSU’s non-vested at January 1, 2015     199,584       $10.70  
RSU’s granted     177,633       $1.88 - $6.70  
RSU’s vested     (135,135 )     $1.88 - $6.70  
RSU’s forfeited           $—  
                 
RSU’s non-vested June 30, 2015     242,082       $1.88 - $11.00  
Schedule of expense related to restricted stock

A summary of the expense related to restricted stock, RSUs and stock option awards for the three and six months ended June 30, 2016 is presented below:

 

    Three months ended
June 30, 2016
    Six months ended
June 30, 2016
 
Restricted Stock   $     $ 390,000  
RSU’s     38,144       192,192  
Stock options            
Common stock     30,281       62,331  
                 
Total   $ 68,425     $ 644,523