Annual report pursuant to Section 13 and 15(d)

Subsequent Events (Tables)

v3.19.1
Subsequent Events (Tables)
 12 Months Ended
Dec. 31, 2018
Subsequent Event [Line Items]  
Schedule Of Performancebased Vesting Compensation Committee [Table Text Block]
In making all equity awards subject to vesting, including performance-based vesting, the Compensation Committee endeavored to structure management’s equity awards so as to align management’s interests with the stockholders’ interest in long term value creation.
  
Officer Compensation
  
Marc S. Schessel, CEO
  
John Price, CFO
  
Vesting
             
Annual Cash Compensation   $400,000   $250,000   N/A
             
Restricted Stock Units   75,000 RSU   250,000 RSU   Quarterly over 3 years
             
Restricted Stock Units   25,000 RSU   37,500 RSU   Vests if the Company realizes $10M in new revenue on or before August 15, 2020
             
Restricted Stock Units   25,000 RSU   37,500 RSU   Vests if Company’s common stock price remains at or above $20 per share on a volume weighted average basis (“VWAP”) for 15 consecutive trading days
             
Restricted Stock Units   25,000 RSU   75,000 RSU   Vest if the Company’s common stock price remains at or above $40 per share on a VWAP basis for 15 consecutive trading days
Schedule Of Employment Agreement [Table Text Block]
The board of directors also approved the form of employment agreement for each of Messrs. Schessel and Price.
 
Director Compensation
  
Robert Christie
  
Francis Knuettel II
  
Charles Miller
  
Ira Ritter
  
Marc Schessel
                     
Annual Cash Compensation   N/A   N/A   N/A   N/A   N/A
                     
Stock Options
(1)
   13,393   13,393   13,393   13,393   N/A
 
 
(1) These options vest in 4 quarterly installments have an exercise price of $
6.49
per share and a term of 10 years.
Joseph Gamberale [Member]  
Subsequent Event [Line Items]  
Schedule Of Employment Agreement [Table Text Block]
Mr. Gamberale compensation will be as follows:
 
Compensation
 
  
Amount
  
Vesting
         
Cash Compensation   $12,500 per month   N/A
 
 
 
 
 
Restricted Stock Units   100,000 RSU   Quarterly over 1 year
 
 
 
 
 
Restricted Stock Units   25,000 RSU   Vests if Company’s common stock price remains at or above $10 per share on a volume weighted average basis (“VWAP”) for 15 consecutive trading days
 
 
 
 
 
Restricted Stock Units   50,000 RSU   Vests if Company’s common stock price remains at or above $15 per share on a VWAP basis for 15 consecutive trading days
 
 
 
 
 
Restricted Stock Units   50,000 RSU   Vests if Company’s common stock price remains at or above $20 per share on a VWAP basis for 15 consecutive trading days 
 
 
 
 
 
Restricted Stock Units   25,000 RSU   Vests if Company’s common stock price remains at or above $25 per share on a VWAP basis for 15 consecutive trading days
 
 
 
 
 
Restricted Stock Units   50,000 RSU   Vest if the Company’s common stock price remains at or above $30 per share on a VWAP basis for 15 consecutive trading days
 
 
 
 
 
Restricted Stock Units   50,000 RSU   Vest if the Company’s common stock price remains at or above $40 per share on a VWAP basis for 15 consecutive trading days
 
 
 
 
 
Restricted Stock Units   50,000 RSU   Vest if the Company’s common stock price remains at or above $45 per share on a VWAP basis for 15 consecutive trading days