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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Weighted Average Fair Market Value of the Options Granted Estimated on the Date of Grant Assumptions

The weighted average fair market value of the options granted during the years ended December 31 were estimated on the date of grant, using a Black-Scholes option pricing model with the following assumptions:

 

 

2018

 

Expected life of options (using the “simplified” method)

4 years

 

Average risk-free interest rate

2.63%

 

Average expected volatility of stock

69%

 

Expected dividend rate

None

 

Fair value of options granted

$282

 
Schedule of Activity Under Stock Option Plans

Stock option activity under the expired 2005 and current 2015 Plans are as follows:

 

 

Number of Options

(in thousands)

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Life

 

 

Aggregate Intrinsic Value

 

2005 Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Maximum number of shares under the plan

 

3,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2017

 

492

 

 

$

0.73

 

 

3.8 years

 

 

$

1,067

 

Granted

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Exercised

 

(376

)

 

$

0.70

 

 

 

 

 

 

 

 

 

Cancelled/Expired

 

(62

)

 

$

0.86

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2018

 

54

 

 

$

0.79

 

 

0.4 years

 

 

$

95

 

Exercisable, December 31, 2018

 

54

 

 

$

0.79

 

 

0.4 years

 

 

$

95

 

Available for issuance, December 31, 2018

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Exercised

 

(54

)

 

$

-

 

 

 

 

 

 

 

 

 

Cancelled/Expired

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2019

 

-

 

 

$

-

 

 

 

-

 

 

$

-

 

Exercisable, December 31, 2019

 

-

 

 

$

-

 

 

 

-

 

 

$

-

 

Available for issuance, expired as of December 31, 2019

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 Plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Maximum number of shares under the plan

 

2,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2017

 

785

 

 

$

1.32

 

 

6.4 years

 

 

$

1,238

 

Granted

 

235

 

 

$

2.26

 

 

 

 

 

 

 

 

 

Exercised

 

(147

)

 

$

1.25

 

 

 

 

 

 

 

 

 

Cancelled/Expired

 

(167

)

 

$

1.25

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2018

 

706

 

 

$

1.66

 

 

4.7 years

 

 

$

660

 

Exercisable, December 31, 2018

 

422

 

 

$

1.44

 

 

4.4 years

 

 

$

473

 

Available for issuance, December 31, 2018

 

1,294

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Exercised

 

-

 

 

$

-

 

 

 

 

 

 

 

 

 

Cancelled/Expired

 

(31

)

 

$

1.90

 

 

 

 

 

 

 

 

 

Outstanding, December 31, 2019

 

675

 

 

$

1.66

 

 

3.6 years

 

 

$

231

 

Exercisable, December 31, 2019

 

526

 

 

$

1.51

 

 

3.4 years

 

 

$

226

 

Available for issuance, December 31, 2019

 

1,325

 

 

 

 

 

 

 

 

 

 

 

 

 
Summary of Additional Information Related to the Options Outstanding

A summary of additional information related to the options outstanding as of December 31, 2019 under the 2005 and 2015 Plans are as follows:

 

Range of Exercise Prices

 

Number of Options

(in thousands)

 

 

Weighted Average Remaining Contractual Life

 

Weighted Average Exercise Price

 

2015 Plan

 

 

 

 

 

 

 

 

 

 

$1.20-$1.25

 

 

214

 

 

4.3 years

 

$

1.25

 

$1.26-$1.38

 

 

200

 

 

2.3 years

 

$

1.32

 

$1.80-$2.25

 

 

236

 

 

3.5 years

 

$

2.15

 

$3.15-$3.35

 

 

25

 

 

8.2 years

 

$

3.23

 

Total

 

 

675

 

 

3.6 years

 

$

1.66