Annual report pursuant to Section 13 and 15(d)

Note 6 - Capital Stock, Stock Plans, Warrants, and Stock Based Compensation (Tables)

v2.4.1.9
Note 6 - Capital Stock, Stock Plans, Warrants, and Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Stock Options Roll Forward [Table Text Block]

 

 

2014

   

2013

 
   

Shares

   

Weighted Average Exercise Price

   

Intrinsic

Value (a)

   

Shares

   

Weighted Average Exercise Price

   

Intrinsic

Value (a)

 

2003 Outside Directors Stock Plan

                                               

Balance at beginning of year

    169,200     $ 9.18               163,200     $ 10.19          

Granted

    16,800       3.70               24,000       2.89          

Exercised

    (2,577 )     2.79     $ 3,705                      

Forfeited/Expired

    (14,400 )     8.50               (18,000 )     9.95          

Balance at end of year

    169,023       8.79     $ 41,957       169,200       9.18     $ 5,850  

Options exercisable at year end

    152,223       9.35     $       145,200       10.22     $  

2004 Stock Option Plan

                                               

Balance at beginning of year

    133,600     $ 10.73               182,100     $ 10.55          

Forfeited/Expired

    (118,600 )     11.19               (48,500 )     10.05          

Balance at end of year

    15,000       7.10     $       133,600       10.73     $  

Options exercisable at year end

    15,000       7.10     $       133,600       10.73     $  

2010 Stock Option Plan

                                               

Balance at beginning of year

    60,000     $ 7.85               60,000     $ 7.85          

Granted

    55,000       5.00                              

Forfeited/Expired

    (60,000 )     7.85                              

Balance at end of year

    55,000       5.00     $       60,000       7.85     $  

Options exercisable at year end

              $       40,000       7.85     $  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
   

Shares

   

Weighted Average Exercise Price

   

Weighted Average Remaining Contractual Term

(years)

   

Aggregate Intrinsic Value

 

Options outstanding January 1, 2014

    362,800     $ 9.53                  

Granted

    71,800       4.70                  

Exercised

    (2,577 )     2.79             $ 3,705  

Forfeited/Expired

    (193,000 )     9.95                  

Options outstanding End of Period (1)

    239,023     $ 7.81       4.9     $ 41,957  

Options Exercisable at December 31, 2014(1)

    167,223     $ 9.15       4.2     $ 31,037  

Options Vested and expected to be vested at December 31, 2014

    230,223     $ 7.92       4.9     $ 41,957  
Schedule of Nonvested Share Activity [Table Text Block]
   

Shares

   

Weighted Average Grant-Date Fair Value

 

Nonvested options January 1, 2014

    44,000     $ 3.14  

Granted

    71,800       2.85  

Vested

    (24,000 )     2.06  

Forfeited

    (20,000 )     4.43  

Nonvested at December 31, 2014

    71,800     $ 2.85  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
   

Employee Stock Option Granted For Year Ended 2014

 

Weighted-average fair value per share

  $ 2.88  

Risk -free interest rate (1)

    1.91 %

Expected volatility of stock (2)

    61.84 %

Dividend yield

 

None

 

Expected option life (years) (3)

 

6.0

 
   

Outside Director Stock Options Granted

 
   

For Year Ended

 
   

2014

   

2013

 

Weighted-average fair value per share

  $ 2.73     $ 2.06  

Risk -free interest rate (1)

    2.63 %     2.66% - 2.92 %

Expected volatility of stock (2)

    59.59 %     58.88% - 59.76 %

Dividend yield

 

None

   

None

 

Expected option life (in years) (3)

    10.0       10.0  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
   

Year Ended

 
   

2014

   

2013

 

Employee Stock Options

  $ (14,000 )   $ 80,000  

Director Stock Options

    48,000       45,000  

Total

  $ 34,000     $ 125,000