STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2020

STOCK-BASED COMPENSATION

Schedule of estimated fair value of its Common Stock options

Risk-free interest rate		2.73	%
Expected term (in years)		10 years
Volatility		62.08	%
Dividend yield		2.34	%
Weighted average fair value of options granted	$	4.60

Schedule of share-based compensation stock options

The following is a summary of the changes in outstanding options during the three-month period ended March 31, 2020:

		Weighted		Weighted Average
		Average		Remaining	Aggregate
		Exercise		Contractual Life	Intrinsic
	Option Shares	Price		(Years)	Value
Outstanding, January 1, 2020	226,075	$	6.30	4.7	$	219,983
Granted	—
Exercised	(1,000)		2.92
Forfeited	—		—
Expired	—		—
Outstanding, March 31, 2020	225,075	$	6.32	4.5	$	30,036
Vested, March 31, 2020	190,075	$	6.14	3.9	$	30,036

Schedule of share-based compensation arrangement by share-based payment award and options vested and expected to vest

		Weighted
		Average Grant-
	Option Shares	Date Fair Value
Non-vested options, January 1, 2020	37,666	$	4.45
Granted
Vested	(2,666)		4.60
Forfeited	—
Non-vested options, March 31, 2020	35,000	$	4.44