NOTE 8 - EQUITY (Tables)

3 Months Ended

Mar. 31, 2017

Stockholders' Equity Note [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the status of the Company’s stock option plans for the fiscal years ended December 31, 2016 and the three months ending March 31, 2017 and changes during the years are presented below (in number of options):

	Number of Options			Average Exercise Price		Average Remaining Contractual Term		Aggregate Intrinsic Value

Outstanding options at January 1, 2016		183,576		$	4.49	2.7 years		$	-0-
Options granted		-			-		-
Options canceled/forfeited		(40,000	)	$	4.50

Outstanding options at December 31, 2016		143,576		$	4.33	1.6 years		$	-0-
Options granted		-
Options exercised		-
Options canceled/forfeited		-

Outstanding options at March 31, 2017		143,576			4.33	1.3 years		$	-0-

Vested Options:
March 31, 2017;		105,575		$	4.46	0.7 years		$	-0-
December 31, 2016:		103,575		$	4.47	1.0 years		$	-0-

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following table summarizes the warrants transactions:

	Warrants Outstanding		Weighted Average Exercise Price

Balance, January 1, 2016		203,253	$	5.29
Granted		-	$	-
Exercised		-	$	-
Canceled		-	$	-
Outstanding and Exercisable December 31, 2016		203,253	$	5.29

Granted		4,988	$	4.01
Exercised		-	$	-
Canceled		-	$	-
Outstanding and Exercisable March 31, 2017		208,240	$	5.26

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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