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Equity Credits	9 Months Ended
Sep. 30, 2016
Equity Credits
Equity Credits	NOTE 8 – EQUITY CREDITS During 1997, Nanofilm established The Equity Credit Incentive Program. This program enabled select employees the opportunity to purchase equity credits that increase in value based upon an increase in Nanofilm’s revenue over a base year of 1996. Eligible credits can be redeemed after two years at the higher of the purchase price or the equity credit value for that year. Under certain circumstances, the equity credits are convertible into Nano equity on a one-for-one basis. The maximum number of credits available for issuance is 385,000. During the nine months ended September 30, 2016, 5,000 credits were redeemed and no equity credits were forfeited. As of September 30, 2016, 41,750 equity credits were issued and outstanding with an aggregate formula redemption value of $12,551, and, as of December 31, 2015, 46,750 equity credits were issued and outstanding with an aggregate formula redemption value of $14,154. Under the terms of the Plan, when the Company completes a registered offering of its common stock, the equity credit participants will have the option to convert the equity credits into Class A common shares of the Company, or in the case of our President, into shares of Class B common stock.

Equity Credits

9 Months Ended

Sep. 30, 2016

NOTE 8 – EQUITY CREDITS

During 1997, Nanofilm established The Equity Credit Incentive Program. This program enabled select employees the opportunity to purchase equity credits that increase in value based upon an increase in Nanofilm’s revenue over a base year of 1996. Eligible credits can be redeemed after two years at the higher of the purchase price or the equity credit value for that year. Under certain circumstances, the equity credits are convertible into Nano equity on a one-for-one basis. The maximum number of credits available for issuance is 385,000. During the nine months ended September 30, 2016, 5,000 credits were redeemed and no equity credits were forfeited. As of September 30, 2016, 41,750 equity credits were issued and outstanding with an aggregate formula redemption value of $12,551, and, as of December 31, 2015, 46,750 equity credits were issued and outstanding with an aggregate formula redemption value of $14,154.

Under the terms of the Plan, when the Company completes a registered offering of its common stock, the equity credit participants will have the option to convert the equity credits into Class A common shares of the Company, or in the case of our President, into shares of Class B common stock.