Commitments and Contingencies

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies [Abstract]

Commitments and Contingencies Disclosure [Text Block]

15. Commitments and Contingencies

Operating Lease Commitments

There were no other leases entered into or modifications of existing leases during the three month period ended March 31, 2015.

Employment Agreements

The Company has employment agreements with certain executives that set forth compensation levels and provide for severance payments in certain instances. Subsequent to March 31, 2015, the Company entered into amendments with certain executives as set forth below:

§ On April 9, 2015, the Company entered into an amendment to the Company’s employment agreement with Steve L. Komar, to change the term of his original employment agreement to expire on December 31, 2015 at an increased salary of $270,000, and no change to the benefit levels then in effect.

§ On April 9, 2015, the Company entered into an amendment to the Company’s employment agreement with James T. McCubbin, Executive Vice President and Chief Financial Officer, to change the term of his original employment agreement to expire on March 31, 2017 at an increased salary of $265,000, respectively, and no change to the benefit levels then in effect.

§ On April 9, 2015, the Company entered into an amendment to the Company’s employment agreement with Jin H. Kang, Chief Operating Officer, to change the term of his original employment agreement to expire on December 31, 2016 at an increased salary of $265,000, respectively, and no change to the benefit levels then in effect.