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Stock Options and Award Programs (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Nonvested restricted stock shares activity
    2020     2019  
NON-VESTED AWARDS            
             
Non-vested awards outstanding, January 1,     50,750       30,000  
Granted (+)     231,873       66,274  
Cancelled (-)     -       5,000  
Vested (-)     108,875 (1)      40,524  
Non-vested awards outstanding, December 31,     173,748       50,750  
                 
Weighted-average remaining contractual life (in years)     1.2       8.0  
                 
Unamortized RSA compensation expense   $ 362,426     $ 90,759  
                 
Aggregate intrinsic value of RSAs non-vested, December 31   $ 1,683,618     $ 197,925  
                 
Aggregate intrinsic value of RSAs vested, December 31   $ 708,920     $ 171,867  

 

(1) During the year ended December 31, 2020, the Company is reporting the issuance of RSAs upon vesting instead of at the time of grant. In the prior year, the Company reported RSAs as issued upon grant date. The amount of shares reported as vested upon grant in prior years were 50,750 shares.

 

Schedule of valuation assumptions
  YEAR ENDED DECEMBER 31, 2019
  Non-Qualified Stock Option Awards
  Employees Directors Non-Employees Total
         
Stock options granted -- -- 2,500 2,500
Expected dividend yield -- -- 0% 0%
Expected volatility -- -- 64.5% 64.5%
Risk-free interest rate -- -- 2.4% 2.4%
Forfeiture rate -- -- 1.2% 1.2%
Expected life -- -- 3 years 3 years
Schedule of nonvested share activity
    2020     2019  
          Weighted           Weighted  
          Average           Average  
          Grant Date           Grant Date  
NON-VESTED AWARDS   Shares     Fair Value     Shares     Fair Value  
                         
Non-vested balances, January 1,     84,166     $ 3.81       206,751     $ 3.56  
Granted (+)     -       -       2,500     $ 1.51  
Cancelled (-)     1,666     $ 2.60       8,000     $ 3.36  
Vested/Excercised (-)     30,000     $ 3.68       117,085     $ 3.35  
Non-vested balances, December 31,     52,500     $ 3.93       84,166     $ 3.81  

 

 

 

Schedule of stock option activity
    2020     2019  
          Weighted           Weighted  
          Average           Average  
OUTSTANDING AND EXERCISABLE AWARDS   Shares     Exercise Price     Shares     Exercise Price  
                         
Awards outstanding, January 1,     350,833     $ 5.89       401,333     $ 5.85  
Granted (+)     -       -       2,500     $ 4.10  
Cancelled (-)     11,666     $ 4.47       53,000     $ 5.48  
Expired (-)     49,333     $ 6.03       -       -  
Exercised (-)     102,500     $ 6.40       -       -  
Awards outstanding, December 31,     187,334     $ 5.66       350,833     $ 5.89  
                                 
Awards vested and expected to vest,                                
December 31,     186,197     $ 5.67       331,018     $ 5.89  
                                 
Awards outstanding and exercisable,                                
December 31,     134,834     $ 5.37       266,667     $ 5.76  
Weighted-average remaining life, share-based compensation
          Vested and     Outstanding  
          Expected to     and  
    Outstanding     Vest     Exercisable  
                   
Weighted-average remaining contractual life (in years)     1.52       1.52       1.42  
Aggregate intrinsic value   $ 853,420     $ 847,465     $ 659,895  
Schedule of employee service share-based compensation
    YEAR ENDED DECEMBER 31, 2020     YEAR ENDED DECEMBER 31, 2019  
    Shared-Based Compensation Expense     Shared-Based Compensation Expense  
    Employees     Directors     Non-Employees     Total     Employees     Directors     Non-Employees     Total  
                                                 
Restricted stock compensation expense   $ 375,122     $ 329,851     $ -     $ 704,973     $ 281,051     $ 100,200     $ -     $ 381,251  
Non-qualified option stock compensation expense     98,789       -       6,519       105,308       326,249       -       10,487       336,736  
                                                                 
Total share-based compensation before taxes   $ 473,911     $ 329,851     $ 6,519     $ 810,281     $ 607,300     $ 100,200     $ 10,487     $ 717,987