XML 63 R36.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock Options and Award Programs (Tables)
12 Months Ended
Dec. 31, 2014
Stock Options and Award Programs [Abstract]  
Schedule of Nonvested Share Activity [Table Text Block]
A summary of stock option and RSA activity as of December 31, 2014, and changes during the year is set forth below:
 
 
 
Restricted Stock Awards
 
Stock Options
 
 
 
 
 
Weighted
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Average
 
NON-VESTED OPTIONS
 
Shares
 
Exercise Price
 
Shares
 
Exercise Price
 
 
 
 
 
 
 
 
 
 
 
Non-vested balances, January 1, 2014
 
277,381
 
$
1.22
 
1,900,000
 
$
0.36
 
Granted
 
-
 
 
 
360,000
 
$
1.03
 
Cancelled
 
-
 
 
 
(122,500)
 
$
0.35
 
Vested
 
(71,429)
 
$
1.22
 
(796,662)
 
$
0.31
 
Non-vested balances, December 31, 2014
 
205,952
 
$
1.22
 
1,340,838
 
$
0.57
 
Schedule Of Share-Based Compensation, Stock Options, Activity [Table Text Block]
 
 
Restricted Stock Awards
 
Stock Options
 
 
 
 
 
Weighted
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Average
 
OUTSTANDING AND EXERCISABLE
 
Shares
 
Exercise Price
 
Shares
 
Exercise Price
 
 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding, January 1, 2014
 
222,619
 
$
1.22
 
3,336,500
 
$
0.72
 
Granted
 
-
 
 
 
360,000
 
$
1.45
 
Canceled
 
-
 
 
 
(144,500)
 
$
0.94
 
Exercised
 
-
 
 
 
(760,399)
 
$
0.61
 
Vested
 
71,429
 
$
1.22
 
-
 
$
0.00
 
Options outstanding, December 31, 2014
 
294,048
 
$
1.22
 
2,791,601
 
$
0.83
 
 
 
 
 
 
 
 
 
 
 
 
 
Options vested and expected to vest,  December 31, 2014
 
294,048
 
$
1.22
 
2,791,601
 
$
0.83
 
 
 
 
 
 
 
 
 
 
 
 
 
Options outstanding and exercisable,  December 31, 2014
 
-
 
 
 
1,450,763
 
$
0.77
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block]
The weighted-average remaining contractual life and the aggregate intrinsic value (the amount by which the fair value of the Company’s stock exceeds the exercise price of the option) of the stock options outstanding, exercisable, and vested and expected to vest as of December 31, 2014 are as follows:
 
 
 
 
 
Vested and
 
Outstanding
 
 
 
 
 
Expected to
 
and
 
 
 
Outstanding
 
Vest
 
Exercisable
 
 
 
 
 
 
 
 
 
Weighted-average remaining contractual life (in years)
 
3.7
 
3.7
 
2.6
 
Aggregate intrinsic value
 
1,573,423
 
896,119
 
896,119
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
 Significant option model assumptions were as follows for options granted during the years ended:
 
 
 
DECEMBER 31
 
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Expected dividend yield
 
0%
 
0%
 
0%
 
Expected volatility
 
73%-86%
 
67% - 70%
 
74%
 
Risk-free interest rate
 
0.4%-2.2%
 
0.38-0.42%
 
0.38-0.40%
 
Expected life - Employees options
 
7 years
 
7 years
 
7 years
 
Expected life - Non-employees options
 
2-3 years
 
2-3 years
 
n/a
 
Expected life - Board of directors options
 
n/a
 
n/a
 
n/a
 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The amount of compensation expense recognized under ASC 718-10 under the Company’s plans was comprised of the following during the years ended:
 
 
 
DECEMBER 31,
 
 
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
 
General and administrative expense
 
$
324,281
 
$
227,035
 
$
217,611
 
Share-based compensation before taxes
 
$
324,281
 
$
227,035
 
$
217,611
 
Tot net share-based compensation expense
 
$
324,281
 
$
227,035
 
$
217,611
 
Net share-based compensation expenses per basic and diluted common share
 
 
nil
 
 
nil
 
 
nil