The Company’s Amended 2013 Plan provides for the granting of stock options, restricted stock awards, RSU’s, stock bonus awards and performance-based awards. As of March 31, 2018, the Company had 2,513,000 of authorized unissued shares reserved and available for issuance upon exercise and conversion of outstanding awards under the Amended 2013 Plan.

The stock options are exercisable at no less than the fair market value of the underlying shares on the date of grant, and restricted stock and restricted stock units are issued at a value not less than the fair market value of the common stock on the date of the grant. Generally, stock options awarded are vested in equal increments ranging from two to four years on the annual anniversary date on which such equity grants were awarded. The stock options generally have a maximum term of 10 years.

The Company recognized Selling, General and Administration expenses of $1,035,153 and $1,186,291, relating to stock options and RSU’s issued to employees, officers, directors and consultants for the three months ended March 31, 2018 and 2017, respectively. As of March 31, 2018, total unrecognized compensation cost related to non-vested stock-based compensation arrangements granted to employees, officers, and directors was $2,150,643, which is expected to be recognized over a weighted-average period of 2.26 years.

The following table summarizes stock option activity for the Amended 2013 Plan during the three months ended March 31, 2018:

The following table summarizes unvested stock options as of March 31, 2018:

The following table summarizes stock option activity outside of the Amended 2013 Plan during the three months ended March 31, 2018:

As of March 31, 2018, there were 10,750,000 remaining unvested stock options granted outside of the Amended 2013 Plan which vest upon the completion of future performance conditions.