Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
Total
Common stock
Additional paid-in capital
Accumulated deficit
Notes receivable from stockholders
Accumulated other comprehensive income
Beginning balance at Dec. 31, 2015 $ 64,047,371 $ 246,973 $ 246,591,415 $ (182,554,637) $ (908,054) $ 671,674
Beginning balance (in shares) at Dec. 31, 2015   24,697,335        
Stock based compensation 878,007   878,007      
Restricted stock issued 0 $ 3,107 (3,107)      
Restricted stock issued (in shares)   310,735        
Sales of stock, net of offering costs 2,952,999 $ 15,000 2,937,999      
Sales of stock, net of offering costs (in shares)   1,500,000        
Restricted stock units vested 0 $ 562 (562)      
Restricted stock units vested (in shares)   56,202        
Restricted stock forfeitures 0 $ (1,260) 1,260      
Restricted stock forfeitures (in shares)   (126,038)        
Foreign currency translation adjustment 54,925         54,925
Net income (loss) (2,848,256)     (2,848,256)    
Ending balance at Dec. 31, 2016 65,085,046 $ 264,382 250,405,012 (185,402,893) (908,054) 726,599
Ending balance (in shares) at Dec. 31, 2016   26,438,234        
Stock based compensation 421,430   421,430      
Restricted stock issued 0 $ 1,094 (1,094)      
Restricted stock issued (in shares)   109,320        
Restricted stock units vested 0 $ 462 (462)      
Restricted stock units vested (in shares)   46,165        
Restricted stock forfeitures 0 $ (1,987) 1,987      
Restricted stock forfeitures (in shares)   (198,671)        
Foreign currency translation adjustment 1,752,606         1,752,606
Net income (loss) 7,034,881     7,034,881    
Ending balance at Dec. 31, 2017 $ 74,293,963 $ 263,951 250,826,873 (178,368,012) (908,054) 2,479,205
Ending balance (in shares) at Dec. 31, 2017 26,395,048 26,395,048        
Stock based compensation $ 779,194   779,194      
Restricted stock issued 0 $ 869 (869)      
Restricted stock issued (in shares)   86,900        
Restricted stock units vested 0 $ 502 (502)      
Restricted stock units vested (in shares)   50,247        
Restricted stock forfeitures (54,155) $ (460) (53,695)      
Restricted stock forfeitures (in shares)   (46,043)        
Foreign currency translation adjustment (113,240)         (113,240)
Net income (loss) 1,869,955     1,869,955    
Ending balance at Dec. 31, 2018 $ 76,775,717 $ 264,862 $ 251,551,001 $ (176,498,057) $ (908,054) $ 2,365,965
Ending balance (in shares) at Dec. 31, 2018 26,486,152 26,486,152