Annual report pursuant to Section 13 and 15(d)

Note 14 - Stock Based Compensation (Tables)

v3.5.0.2
Note 14 - Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Note 14 - Stock Based Compensation (Tables) [Line Items]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] The following table summarizes the Company’s stock option activity and related information for the period indicated:

 
 
Number of Shares
   
Weighted Average
Grant Date
Fair Value
   
Weighted Average Remaining
Contractual Term
   
Weighted Average Exercise Price
 
Outstanding at January 1, 2015
   
-
   
$
-
     
-
     
-
 
Granted
   
1,281,000
   
$
2.50
     
4.15
     
8.24
 
Exercised
   
-
   
$
-
     
-
     
-
 
Forfeited
   
(165,000
)
 
$
2.40
     
4.39
     
8.35
 
Outstanding at December 31, 2015
   
1,116,000
   
$
2.51
     
4.10
     
8.23
 
 
                               
Exercisable at December 31, 2015
   
80,000
     
3.66
     
4.10
     
8.60
 
Director [Member]  
Note 14 - Stock Based Compensation (Tables) [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] The following assumptions were used in the Black-Scholes options pricing model to estimate the fair value of stock options on the grant date:

Fair value of Company’s Stock Options Granted
 
$
292,400
 
Volatility
   
45.00
%
Exercise price
 
$
8.60
 
Estimated life
   
5.50
  years
Risk free interest rate (based on 5-year treasury rate)
   
1.38
%
Dividend
   
0.00
%
Officer [Member]  
Note 14 - Stock Based Compensation (Tables) [Line Items]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] The following assumptions were used in the Black-Scholes options pricing model to estimate the fair value of stock options on the grant date:

Fair value of Company’s Stock Options Granted
 
$
2,904,000
 
Volatility
   
45.00– 50.00
%
Exercise price
 
$2.63 to 11.25
 
Estimated life
   
6.50
  years
Risk free interest rate (based on 5-year treasury rate)
 
1.57 to 2.03
%
Dividend
   
0.00
%