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SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of stock option activity

The following table summarizes stock option activity for 2016 and 2015:

 

2016

  

2015
 

Shares

  

 WAEP*

 

Shares

  

 WAEP*

Options outstanding at beginning of year

        307,750

 

$

             5.96

 

        354,000

 

$

             6.30

Granted

                 -

 

$

               -

 

          50,000

 

$

             2.73

Exercised

                 -

 

$

               -

 

                 -

 

$

               -

Expired

        (23,000)

  

$

           11.65

 

          (3,000)

  

$

             9.22

Forfeited

      (152,250)

  

$

             4.93

 

        (93,250)

  

$

             5.43

                   

Options outstanding at end of year

        132,500

 

$

             6.15

 

        307,750

 

$

             5.96

Options eligible for exercise at year-end

        112,500

 

$

             6.41

 

        165,625

 

$

             7.20

                   
Schedule Of weighted average assumptions

The fair value of stock options granted under stock‑based compensation programs has been estimated as of the date of each grant using the multiple option form of the Black‑Scholes valuation model, based on the grant price and assumptions regarding the expected grant life, stock price volatility, dividends, and risk‑free interest rates. Each vesting period of an option award is valued separately, with this value being recognized evenly over the vesting period. The weighted average per share grant date fair value of options to purchase 50,000 shares granted for the year ended December 31, 2015 was $1.53.  No options were granted for the year ended December 31, 2016. The weighted average assumptions used to determine the fair value of stock options granted during 2015 is as follows:

 

2015

 

Expected life (in years)

                5.0

 

Risk-free interest rate

              1.60

%

Expected volatility

                 67

%

Dividend yield

0

%
Table summarizes restricted stock award activity

The following table summarizes restricted stock award activity for 2016 and 2015:

 

 

2016

  

2015

Number of Shares

Weighted Average grant date fair value

Aggregate Intrinsic Value (in 000's)

  

Number of Shares

Weighted Average grant date fair value

Aggregate Intrinsic Value (in 000's)

Awards outstanding at beginning of year

                    -  

 $                      -  

 $                      -  

 

               -  

 $                      -  

 $                      -  

Granted

           170,553

 $                  2.93

 $                   500

 

       32,037

 $                  3.32

 $                   107

Exercised

           (70,915)

 $                  3.17

 $                   239

 

      (32,037)

 $                  3.32

 $                   106

Forfeited

           (99,638)

 $                  2.76

 $                   235

 

               -  

 $                      -  

 $                      -  

               

Awards outstanding at end of year

                    -  

 $                      -  

 $                      -  

 

               -  

 $                      -  

 $                      -  

Awards exercisable at end of year

                    -  

 $                      -  

 $                      -  

 

               -  

 $                      -  

 $                      -  

               
Schedule of other information pertaining to options and awards

Other information pertaining to options and awards for the years ended December 31, 2016 and 2015 is as follows:

 

2016

    

2015

           

Stock-based compensation expense recognized

          

within general and administrative expense on

         

the consolidated statements of operations

$

      247,000

 

$

     279,000

Cash received from the exercise of options

  

                -  

   

               -  

Excess income tax benefits from exercise of stock options

  

                -  

   

               -