XML 39 R27.htm IDEA: XBRL DOCUMENT v3.7.0.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Schedule of Significant Assumptions Used in Option-pricing Model to Fair Value Options Granted

Significant assumptions used in the option-pricing model to fair value options granted were as follows:

 

 

 

 

2016

 

 

 

Employees

 

 

Consultants

 

 

Board of

Directors

 

 

Employee

 

Risk-free rate

 

 

1.90

%

 

 

1.73

%

 

 

1.90

%

 

 

1.36

%

Expected life

 

6 years

 

 

5 years

 

 

6 years

 

 

6 years

 

Expected volatility

 

 

25.13

%

 

 

20.61

%

 

 

25.13

%

 

 

25.82

%

Expected dividend

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

Risk-free rate

 

 

1.93

%

Expected life

 

6 years

 

Expected volatility

 

 

25.00

%

Expected dividend

 

 

 

 

Summary of Stock Option Plan Activity

The following is a summary of the stock option plan activity during 2016 and 2015:

 

 

 

2016

 

 

2015

 

 

 

Number of

 

 

Weighted Average

 

 

Number of

 

 

Weighted Average

 

 

 

Options

 

 

Exercise Price

 

 

Options

 

 

Exercise Price

 

Options Outstanding at Beginning of the year

 

 

94,500

 

 

$

10.00

 

 

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

172,504

 

 

 

12.14

 

 

 

94,500

 

 

 

10.00

 

Exercised

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Forfeited

 

 

(51,636

)

 

 

12.50

 

 

 

-

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding at End of Year

 

 

215,368

 

 

$

11.38

 

 

 

94,500

 

 

$

10.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Exercisable at End of Year

 

 

94,500

 

 

$

10.00

 

 

 

6,038

 

 

$

10.00