STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of stock option grants assumptions used in valuation model

The fair value of the stock options granted was measured using the Black-Scholes valuation model with the following assumptions:

	Year Ended December 31,
	2020			2019
Expected volatility		31.1	%		—
Expected life in years		5.5			—
Risk-free interest rate		0.5	%		—

Schedule of stock option activity under the 2011 Long-Term Incentive Plan

A summary of stock option activity for the years ended December 31, 2020 and 2019, and changes during the years then ended is presented below:

	Stock Options			Weighted average exercise price		Weighted average remaining contractual term		Aggregate intrinsic value
Outstanding as of January 1, 2019		424,800		$	8.30		6.50	$	22
Granted		—			—		—		—
Exercised		—			—
Forfeited		(45,000	)		14.75		—
Outstanding as of January 1, 2020		379,800		$	7.54		6.10	$	—
Granted		70,000			1.68
Exercised		—			—
Forfeited		(9,400	)		8.55
Outstanding as of December 31, 2020		440,400		$	6.58		5.80	$	155
Exercisable as of December 31, 2020		370,400		$	7.51		5.20	$	1

Schedule of weighted-average grant-date fair value of options, total intrinsic value of options exercised, and cash receipts from options exercised

A summary of the weighted-average grant-date fair value of options, total intrinsic value of options exercised, and cash receipts from options exercised is shown below:

	Year Ended December 31,
	2020		2019
Weighted-average fair value of options granted (per share)	$	0.49	$	—
Intrinsic value gain of options exercised		—		—
Cash receipts from exercise of options		—		—