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SUBSEQUENT EVENTS
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3 Months Ended | ||
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Mar. 31, 2015
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| Subsequent Events [Abstract] | |||
| SUBSEQUENT EVENTS |
Indiana Department of Revenue (IDOR). In April 2015, we agreed to withdrawal our formal protest with the IDOR and accept the IDOR’s revised audit findings and proposed assessment relating to unpaid sales and use taxes for periods prior to 2013. The assessment payment totaled $237,000, including interest and penalties, and was remitted in April 2015.
Revolving Loan. On April 1, 2015 we borrowed $2.0 million under our $5.0 million Revolving Loan under the First Lien Credit Facility.
Equity Incentive Plan. On March 31, 2015, our Board adopted the Full House Resorts, Inc. 2015 Equity Incentive Plan (the “2015 Plan”), subject to and effective upon stockholder approval. On May 5, 2015, the 2015 Plan became effective and the 2006 Plan was terminated. The 2015 Plan includes shares reserved for issuance of up to 1,400,000 new shares to directors, employees and consultants, and 1,243,834 shares issuable in respect to non-qualified stock options granted to Mr. Lee and to Mr. Fanger in connection with their employment. The 2015 Plan includes a variety of forms of awards, including stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents and performance-based compensation.
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