7. STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2016

Schedule stock option activity

					Weighted-
			Weighted-		average
			average		remaining		Aggregate
			exercise		contractual		intrinsic
	Options		price		life (years)		value
Outstanding at December 31, 2015		105,000		5.17		2.65		-
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited		-		-		-		-
Outstanding at March 31, 2016		105,000	$	5.17		2.41	$	-
Vested at March 31, 2016		105,000	$	5.17		2.41	$	-
Exercisable at March 31, 2016		105,000	$	5.17		2.41	$	-

Summary of stock options outstanding

		Options Outstanding						Options Exercisable
				Weighted-		Weighted				Weighted
				average		average				average
Exercise		Number of		remaining		exercise		Number of		exercise
price		shares		life (years)		price		shares		price
$	5.40		5,000		.17	$	5.40		5,000	$	5.40
$	5.16		100,000		2.52	$	5.16		100,000	$	5.16
			105,000						105,000

Schedule unvested restricted stock units

			Weighted
	Number of		average
	unvested		grant-date
	RSUs		fair value
Unvested shares as of January 1, 2016		80,278	$2.72 per share
Granted, forfeited, or other changes		-
Unvested shares as of March 31, 2016		80,278	$2.72 per share

Stock Appreciation Rights (SARs) [Member]

Company's stock-based activity

			Weighted
	Number of		average
	unvested		grant-date
	SARs		fair value
Unvested shares as of January 1, 2016		1,912,419	$0.30 per share
Vested, forfeited, or other changes		-
Unvested shares as of March 31, 2016		1,912,419	$0.30 per share

Restricted Stock Agreements (RSAs) [Member]

Company's stock-based activity

	Number of			Weighted average
	unvested			grant-date
	RSA shares			fair value
Unvested shares as of January 1, 2016		2,514,434		$0.87 per share
Vested on January 1, 2016		(76,744	)	$3.02 per share
Unvested shares as of March 31, 2016		2,437,690		$0.80 per share