5) Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Table Text Block Supplement [Abstract]

Schedule of stock inventive plan changes

A summary of the status of the Company’s stock compensation plans as of June 30, 2020, and the changes during the six months ended June 30, 2020, are presented below:

	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at January 1, 2020	1,086,053	$      4.41	594,132	$      5.36
Adjustment for effect of stock dividends	29,099		22,544
Granted	77,000		180,000
Exercised	(78,803)		-
Cancelled	-		-
Outstanding at June 30, 2020	1,113,349	$      4.27	796,676	$      4.87
As of June 30, 2020:
Options exercisable	1,013,955	$      4.27	561,440	$      5.11
As of June 30, 2020:
Available options for future grant	325,372		266,500
Weighted average contractual term of options
outstanding at June 30, 2020	5.97 years		6.18 years
Weighted average contractual term of options
exercisable at June 30, 2020	5.61 years		5.32 years
Aggregated intrinsic value of options
outstanding at June 30, 2020 (1)	$2,568,502		$1,360,855
Aggregated intrinsic value of options
exercisable at June 30, 2020 (1)	$2,338,090		$823,712
(1) The Company used a stock price of $6.58 as of June 30, 2020 to derive intrinsic value.

A summary of the status of the Company’s stock compensation plans as of June 30, 2019, and the changes during the three months ended June 30, 2019, are presented below:

	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at January 1, 2019	1,011,274	$      4.49	577,280	$      5.15
Granted	2,000		-
Exercised	(15,328)		-
Cancelled	-		-
Outstanding at June 30, 2019	997,946	$      4.50	577,280	$      5.15
As of June 30, 2019:
Options exercisable	921,895	$      4.42	530,030	$      5.14
As of June 30, 2019:
Available options for future grant	299,351		146,425
Weighted average contractual term of options
outstanding at June 30, 2019	5.65 years		3.46 years
Weighted average contractual term of options
exercisable at June 30, 2019	5.53 years		2.93 years
Aggregated intrinsic value of options
outstanding at June 30, 2019 (1)	$822,875		$218,010
Aggregated intrinsic value of options
exercisable at June 30, 2019 (1)	$822,875		$218,010
(1) The Company used a stock price of $5.02 as of June 30, 2019 to derive intrinsic value.