7 - SHARE BASED COMPENSATION

6 Months Ended

Jun. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

7 – SHARE BASED COMPENSATION

Accounting for stock options issued to employees measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award.  That cost is recognized over the period during which an employee is required to provide service in exchange for the award.  Outstanding options to purchase Class A common stock (“the Options”) vest in three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan.  The option activity during the three months ended June 30, 2014 is as follows:

	Number of Shares			Weighted Average xercise Price		Weighted Average Years Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2013		396,000		$	1.34		4.4	$	19,300
Grants		78,000
Forfeited		(20,000	)
Outstanding at June 30, 2014		454,000			1.31		4.6	$	20,300
Exercisable at June 30, 2014		274,999		$	1.47		3.5	$	10,000

At June 30, 2014 the range of individual outstanding weighted average exercise prices was $0.98 to $1.49.