SHARE BASED COMPENSATION

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement [Text Block]

6 – 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 (1) year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan and 2018 Omnibus Incentive Plan (collectively referred to as “the Plans”). The Options activity during the nine months ended September 30, 2021 is as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Years Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2020		295,500		$	1.92		5.4	$	359,000
Grants		51,000			4.59		8.2		-
Exercised		(41,500	)		1.34				-
Outstanding at September 30, 2021		305,000		$	2.44		5.0	$	453,000
Exercisable at September 30, 2021		130,000		$	1.98		4.0	$	239,000

At September 30, 2021, the range of individual outstanding weighted average exercise prices was $1.02 to $4.44 and the unamortized compensation expense was approximately $42,000. Stock based compensation recorded in the three and nine months ended September 30, 2021 was $9,000 and $23,000, respectively and is included in selling, general and administrative expenses on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.