Selling, general and administrative expenses were $1.9 million for the quarter, an increase of 31%, compared to $1.4 million in the second quarter of 2015. The increase was primarily due to a $0.4 million non-recurring expense based on the redemption of previously issued stock options that were approaching the end of their expiration term for employees still in good standing. Under the former CEO, the Board approved stock options committed to employees over the course of many years, the result being an unusually large number of stock options that would all expire on April 1, 2016. As of the June 30, 2016, all stock options approved under the former CEO have either been cancelled or redeemed.
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