STOCK OPTIONS (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Activity [Table Text Block]

In 2016, the following stock option grants were made:

					Estimated
					Fair
					Value of
	Options		Exercise		Underlying		Intrinsic
Option Date	Granted		Price		Stock		Value
August 2016		6,004	$	5.00	$	3.00	None
August 2016		7,230	$	7.00	$	3.00	None
August 2016		9,986	$	9.00	$	3.00	None
August 2016		14,923	$	11.00	$	3.00	None

A summary of option activity for the Plan as of March 31, 2017 and changes for the three months then ended are represented as follows:

					Weighted
			Weighted		Average
			Average		Remaining		Aggregate
	Number of		Exercise		Contract		Intrinsic
	Options		Price		Term (Years)		Value
Options outstanding January 1, 2017		101,077	$	8.63		9.50	$	—
Granted		—		—		—		—
Forfeited		(36,000)		—		—		—
Outstanding at March 31, 2017		65,077	$	10.92		9.25	$	—

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

A summary of significant assumptions used to estimate the fair value of the stock options granted in 2016 are as follows:

Weighted average fair value of options granted	$1.70
Expected term (years)	6.0 to 10.0
Risk-free interest rate	1.21% to 1.51%
Volatility	45.4%
Dividend yield	None

Nonvested Restricted Stock Shares Activity [Table Text Block]

The following table summarizes restricted share activity for the three months ended March 31, 2017:

			Weighted
	Number of		Average
	Shares		Grant Date Fair Value
Outstanding January 1, 2017		128,467	$	3.87
Granted		630,000		1.52
Vested		(243,467)		2.09
Forfeited		(50,000)		3.68
Outstanding at March 31, 2017		465,000	$	1.64