Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

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

Share-based Compensation, Stock Options, Activity [Table Text Block]

Stock options activity as of March 31, 2017 is as follows:

 

	Number of Stock Options		Weighted Average Exercise Price		Weighted Average Remaining Contract Term (Yrs.)		Aggregate Intrinsic Value
Total outstanding at December 31, 2016		-	$	-		-	$	-
Options granted		455,000		6.83		4.80		-
Options exercised		-		-		-		-
Actual options forfeited		-		-		-		-
Options expired		-		-		-		-
Total outstanding at March 31, 2017		455,000	$	6.83		4.80	$	-
Total exercisable at March 31, 2017		44,167	$	6.64		4.76	$	-
Total unvested at March 31, 2017		410,833	$	6.85		4.80	$	-
Total vested or expected to vest - March 31, 2017		455,000	$	6.83		4.80	$	-

Schedule of Nonvested Share Activity [Table Text Block]

The following table summarizes unvested stock options as of March 31, 2017:

	Number of Stock Options		Weighted Average Exercise Price
Total unvested - December 31, 2016		-	$	-
Granted		455,000		6.83
Vested		(44,167)		6.64
Cancellations		-		-
Total unvested - March 31, 2017		410,833	$	6.85

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

Assumptions used in calculating the fair value of the stock options granted during 2017 are summarized below:

	Weighted Average as of March 31, 2017
Weighted Average Assumptions:
Expected dividend yield		0	%
Expected equity volatility		57	%
Expected term (years)		2.34
Risk-free interest rate		1.94	%
Exercise price per stock option	$	6.83
Market price per share	$	5.78
Weighted average fair value per stock option	$	2.64