On July 30, 2019, the Company’s compensation committee approved the grant of shares of restricted stock in an amount equal to $260,000, the number of shares to be determined based on the closing price of the Company’s common stock on the date of grant. One half of the shares shall vest on July 31, 2019 and the remaining shares shall vest in two equal quarterly installments over the following six-month period. The grant is for services rendered for the period from February 1, 2019 through January 31, 2020. As of and for the three and six months ended June 30, 2019, the Company recorded $106,137 as general and administrative expense and accrued expense related to the grant.