Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

Stockholders' Equity
6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Stockholders' Equity



Treasury Stock


The Company entered into a 10b-18 Stock Repurchase Agreement on November 6, 2019 authorizing ThinkEquity, a division of Fordham Financial Management, Inc. to repurchase up to $500 of the Company’s common stock par value $0.0001. As of December 31, 2019, the Company purchased of 17,477 shares and held them as treasury stock at cost of $40. There were no purchases during 2020 and on January 20, 2020, the Company terminated the Stock Repurchase Agreement. As of June 30, 2020 and December 31, 2019, funds of $155 were due back from ThinkEquity and are included in the prepaid expenses as of those dates.


The following table summarizes stock option activity:


    Number of     Weighted Average
    Options     Price  
Outstanding, December 31, 2019     140,000     $ 5.22  
Outstanding, June 30, 2020 (unaudited)     140,000     $ 5.22  
Exercisable, June 30, 2020 (unaudited)     140,000     $ 5.22  


Effective July 8, 2016 the Company’s board of directors approved the Polar Power 2016 Omnibus Incentive Plan (the “2016 Plan”), authorizing the issuance of up to 1,754,385 shares of common stock as incentives to employees and consultants to the Company with awards limited to a maximum of 350,877 shares in any calendar year.


During the six months ended June 30, 2020 and 2019, the Company expensed total stock-based compensation related to the vested options of nil and $158, respectively, related to the vesting of these options. As of June 30, 2020, there was no unamortized cost compensation costs remaining.


The intrinsic value of the outstanding options at June 30, 2020 was approximately $4.