13. Stock Options
|6 Months Ended|
Jun. 30, 2015
|Disclosure of Compensation Related Costs, Share-based Payments [Abstract]|
The Company has adopted the provisions of ASC 718 - Compensation which requires companies to measure the cost of employee services received in exchange for equity instruments based on the grant date fair value of those awards and to recognize the compensation expense over the requisite service period during which the awards are expected to vest.
On December 29, 2008, the Company adopted the Pacific Entertainment Corporation 2008 Stock Option Plan (the Plan), which provides for the issuance of qualified and non-qualified stock options to officers, directors, employees and other qualified persons. The Plan is administered by the Board of Directors of the Company or a committee appointed by the Board of Directors. The number of shares of the Companys common stock initially reserved for issuance under the Plan was 110,000. On September 2, 2011, the shareholders holding a majority of the Companys outstanding common stock adopted an amendment to the Companys 2008 Stock Option Plan to increase the number of shares of common stock issuable under the plan to 500,000.
The following schedule summarizes the changes in the Companys stock option plan during the six months ended June 30, 2015:
The Company did not recognize any stock based compensation expense during the six months ended June 30, 2015 or 2014.
Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.
Reference 1: http://www.xbrl.org/2003/role/presentationRef