4) Stock-based Compensation: Schedule of stock inventive plan changes (Tables)

3 Months Ended

Mar. 31, 2016

Tables/Schedules

Schedule of stock inventive plan changes

	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at December 31, 2015	618,261	$      3.89	577,436	$      3.54
Granted	-		-
Exercised	(28,460)	2.15	-
Cancelled	-		-
Outstanding at March 31, 2016	589,801	$      3.97	577,436	$      3.54
As of March 31, 2016:
Options exercisable	484,659	$      3.45	498,686	$      2.99
As of March 31, 2016:
Available options for future grant	454,842		57,750
Weighted average contractual term of options
outstanding at March 31, 2016	7.50 years		2.50 years
Weighted average contractual term of options
exercisable at March 31, 2016	7.03 years		2.16 years
Aggregated intrinsic value of options
outstanding at March 31, 2016 (1)	$844,342		$1,096,391
Aggregated intrinsic value of options
exercisable at March 31, 2016 (1)	$844,342		$1,096,391
(1) The Company used a stock price of $5.09 as of March 31, 2016 to derive intrinsic value.

A summary of the status of the Company’s stock incentive plans as of March 31, 2015, and the changes during the three months ended March 31, 2015, are presented below:

	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at December 31, 2014	512,795	$      3.20	691,591	$      2.00
Granted	-		-
Exercised	-		(114,023)	2.14
Cancelled	(8,846)	2.31	-
Outstanding at March 31, 2015	503,949	$      3.21	577,568	$      2.62
As of March 31, 2015:
Options exercisable	379,946	$      2.75	471,943	$      2.15
As of March 31, 2015:
Available options for future grant	266,649		-
Weighted average contractual term of options
outstanding at March 31, 2015	7.57 years		2.93 years
Weighted average contractual term of options
exercisable at March 31, 2015	6.91 years		2.30 years
Aggregated intrinsic value of options
outstanding at March 31, 2015 (1)	$1,076,880		$1,572,653
Aggregated intrinsic value of options
exercisable at March 31, 2015 (1)	$988,022		$1,506,415
(1) The Company used a stock price of $5.34 as of March 31, 2015 to derive intrinsic value.