Note 10. Stock Options	6 Months Ended
Jun. 30, 2015
Notes
Note 10. Stock Options	Note 10. Stock Options The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes valuation model. The Company uses historical data among other factors to estimate the expected price volatility, the expected option term and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the date of grant for the expected term of the option. The Company has a stock option plan approved in May 2004, amended in June 2008 and again in August 2009 (the “2004 Plan”), for directors and key employees under which 2,500,000 shares of common stock could have been issued. No other shares can be issued from the 2004 Plan, and approximately 1,625,000 options are outstanding as of June 30, 2015. The Company also has a stock option plan approved in July 2010 (the “2010 Plan”), for directors and key employees under which 5,000,000 shares of common stock may be issued. Approximately 993,000 options are outstanding as of June 30, 2015. Unless otherwise stated in the stock option agreement, options are 20% vested on the date of grant, with the balance vesting 20% per year over the next four years, except for directors whose options vest six months from the date of grant. Options were granted in 2015 only from the 2010 Plan at the market value of the stock at date of grant, as defined in the plan. In December 2013, the Company granted stock options totaling 25,000 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.52 and vested in June 2014. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $36,700 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2014, the Company recorded an expense of approximately $31,800 and $13,400, respectively. In April 2014, the Company granted stock options totaling 25,000 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $0.81 and vested in October 2014. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $16,200 ratably over the subsequent six-month period. For the three months ended June 30, 2015 and 2014 the charge to earnings was $-0- and $8,100, respectively. In June 2014, the Company granted stock options totaling 35,000 options to seven directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $0.67 and vested in December 2014. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $32,200 ratably over the subsequent six-month period. For the six months ended June 30, 2015 and 2014 the charge to earnings was $-0- and $8,100, respectively. For the three months ended June 30, 2015 and 2014 the charge to earnings was $-0- and $5,400, respectively. In August 2014, the Company granted stock options totaling 35,000 options to seven directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.47 and vested in February 2015. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $47,900 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2015, the Company recorded an expense of approximately $16,000 and $-0-, respectively. In October 2014, the Company granted stock options totaling 12,500 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.21 and do not vest until April 2015. To reflect the value of the stock options granted, the Company is taking a charge to earnings totaling approximately $16,600 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2015, the Company recorded an expense of approximately $11,100 and $2,800, respectively. In November 2014, the Company granted stock options totaling 25,000 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.59 and vested May 2015. To reflect the value of the stock options granted, the Company is taking a charge to earnings totaling approximately $43,200 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2015, the Company recorded an expense of approximately $28,800 and $7,200, respectively. In April 2015, the Company granted stock options totaling 15,000 options to six directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $2.28 and do not vest until October 2015. To reflect the value of the stock options granted, the Company is taking a charge to earnings totaling approximately $34,500 ratably over the subsequent six-month period. For the three months ended June 30, 2015, the Company recorded an expense of $11,500.

Note 10. Stock Options

6 Months Ended

Jun. 30, 2015

Note 10. Stock Options

The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes valuation model. The Company uses historical data among other factors to estimate the expected price volatility, the expected option term and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the date of grant for the expected term of the option.

The Company has a stock option plan approved in May 2004, amended in June 2008 and again in August 2009 (the “2004 Plan”), for directors and key employees under which 2,500,000 shares of common stock could have been issued. No other shares can be issued from the 2004 Plan, and approximately 1,625,000 options are outstanding as of June 30, 2015. The Company also has a stock option plan approved in July 2010 (the “2010 Plan”), for directors and key employees under which 5,000,000 shares of common stock may be issued. Approximately 993,000 options are outstanding as of June 30, 2015. Unless otherwise stated in the stock option agreement, options are 20% vested on the date of grant, with the balance vesting 20% per year over the next four years, except for directors whose options vest six months from the date of grant. Options were granted in 2015 only from the 2010 Plan at the market value of the stock at date of grant, as defined in the plan.

In December 2013, the Company granted stock options totaling 25,000 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.52 and vested in June 2014. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $36,700 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2014, the Company recorded an expense of approximately $31,800 and $13,400, respectively.

In April 2014, the Company granted stock options totaling 25,000 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $0.81 and vested in October 2014. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $16,200 ratably over the subsequent six-month period. For the three months ended June 30, 2015 and 2014 the charge to earnings was $-0- and $8,100, respectively.

In June 2014, the Company granted stock options totaling 35,000 options to seven directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $0.67 and vested in December 2014. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $32,200 ratably over the subsequent six-month period. For the six months ended June 30, 2015 and 2014 the charge to earnings was $-0- and $8,100, respectively. For the three months ended June 30, 2015 and 2014 the charge to earnings was $-0- and $5,400, respectively.

In August 2014, the Company granted stock options totaling 35,000 options to seven directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.47 and vested in February 2015. To reflect the value of the stock options granted, the Company recorded a charge to earnings totaling approximately $47,900 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2015, the Company recorded an expense of approximately $16,000 and $-0-, respectively.

In October 2014, the Company granted stock options totaling 12,500 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.21 and do not vest until April 2015. To reflect the value of the stock options granted, the Company is taking a charge to earnings totaling approximately $16,600 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2015, the Company recorded an expense of approximately $11,100 and $2,800, respectively.

In November 2014, the Company granted stock options totaling 25,000 options to five directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $1.59 and vested May 2015. To reflect the value of the stock options granted, the Company is taking a charge to earnings totaling approximately $43,200 ratably over the subsequent six-month period. For the six months and three months ended June 30, 2015, the Company recorded an expense of approximately $28,800 and $7,200, respectively.

In April 2015, the Company granted stock options totaling 15,000 options to six directors. All of the options granted are for a period of ten years, are pursuant to the 2010 Plan, are exercisable at $2.28 and do not vest until October 2015. To reflect the value of the stock options granted, the Company is taking a charge to earnings totaling approximately $34,500 ratably over the subsequent six-month period. For the three months ended June 30, 2015, the Company recorded an expense of $11,500.