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Note 24 - Share-based Compensation Expenses
 3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
24.
 Share-based compensation expenses
 
The Company granted
75,000
and
20,000
shares of the Company’s restricted common stock to its investor relations services provider, in exchange for its services to the Company for the year ended
December
31,
2017
and
2016,
respectively. These shares were valued at
US$1.02
and
US$3.00
per share, the closing bid price of the Company’s common stock on the earlier of the performance commitment date or the date service was completed, respectively.
Total compensation expense recognized for the service was
US$19,125
and
US$15,000
for the
three
months ended
March
31,
2017
and
2016,
respectively.
 
In
February
2017,
the Company granted
20,000
shares of the Company’s restricted common stock to
one
of its independent directors in exchange for his services provided to the Company. These shares were valued at
US$1.12
per share, the closing bid price of the Company’s common stock on the date of grant. Total compensation expense recognized for the
three
months ended
March
31,
2017
was approximately
US$22,400.
 
On
April
1,
2016,
the Company granted
16,000
shares of the Company’s restricted common stock in aggregate to
two
marketing service providers in exchange for their services to the Company for a
12
-month period commencing on
April
1,
2016.
These shares were valued at
US$1.73
per share, the closing bid price of the Company’s common stock on the earlier of the performance commitment date or the date service was completed. Total compensation expense recognized for the
three
months ended
March
31,
2017
was approximately
US$6,900.
 
The Company granted
140,000
shares of the Company’s restricted common stock to a management consulting service provider in exchange for its services to the Company for a
24
-month period commencing on
May
1,
2015.
These shares were valued at
US$3.93
per share, the closing bid price of the Company’s common stock on the earlier of the performance commitment date or the date service was completed. Total compensation expense recognized for the
three
months ended
March
31,
2017
and
2016
was approximately
US$
68,700
,
respectively.
 
On
September
14,
2015,
under its
2015
Omnibus Securities and Incentive Plan, the Company granted its employees in the aggregate of
266,238
shares of the Company’s restricted common stock, which will be vested on the
third
anniversary of the date of the grant. These shares were valued at
US$2.10
per share, the closing bid price of the Company’s common stock on the date of grant. The Company adopted a
5%
forfeiture rate for recognition of the related compensation expenses of these unvested shares, total compensation expenses recognized for the
three
months ended
March
31,
2017
and
2016
was approximately
US$43,600
and
US$44,100
respectively.
 
On
September
14,
2015,
under its
2015
Omnibus Securities and Incentive Plan, the Company also granted
5
-year common stock purchase options to its employees, in the aggregate, to purchase up to
477,240
shares of the Company’s restricted common stock at an exercise price of
US$2.10
per share, of which
159,080
options vested upon the date of grant,
159,080
options vested on
September
14,
2016
and the remaining
159,080
options will be vested on
September
14,
2017.
These options were valuated at
US$1.03
-
US$1.39
per option. The Company adopted a
5%
forfeiture rate for recognition of the related compensation expenses of the unvested part of options, total compensation expenses recognized for these options for the
three
months ended
March
31,
2017
and
2016
was approximately
US$50,700
and
US$46,250,
respectively.
 
On
December
30,
2014,
the Company issued
1,680,000
shares of the Company’s restricted common stock to its executive officers, of which
613,334
restricted shares vested upon issuance,
533,333
restricted shares vested on
December
30,
2015
and the remaining
533,333
restricted shares vested on
December
30,
2016.
The restricted stock was valued at
$2.93
per share, the closing bid price of the Company’s common stock on the date of grant. Total compensation expenses recognized for the
three
months ended
March
31,
2016
was
US$390,000.
 
Options issued and outstanding at
March
31,
2017
and their movements during the
three
months then ended are as follows:
 
    Option Outstanding   Option Exercisable
    Number of
underlying
shares		   Weighted
Average
Remaining
Contractual
Life (Years)		   Weighted
Average
Exercise
Price		   Number of
underlying
shares		   Weighted
Average
Remaining
Contractual
Life (Years)		   Weighted
Average
Exercise
Price
                         
Balance, December 31, 2016    
835,216
      
4.04
     $
2.49
      
676,136
      
4.11
     $
2.59
  
Granted/Vested    
-
      
 
      
 
      
-
      
 
      
 
  
Forfeited    
-
      
 
      
 
      
-
      
 
      
 
  
Exercised    
-
      
 
      
 
      
-
      
 
      
 
  
Balance, March 31, 2017 (unaudited)    
835,216
      
3.79
     $
2.49
      
676,136
      
3.87
     $
2.59
  
 
The aggregate unrecognized share-based compensation expenses as of
March
31,
2017
and
2016
was approximately
US$431,000
and
US$2,237,000,
respectively.