Note 8 - Stock Incentive Plan

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Stock Incentive Plan

A summary of the status of the Company’s non-vested shares as of

January 1, 2017,

and changes during the

three

month period ended

March 31, 2017,

are presented below:

Unvested Shares	Shares		Weighted-Average Grant-Date Fair Value per share
Non-vested on January 1, 2017		116,280		2.08
Granted		-		-
Vested		-		-
Non-vested on March 31, 2017		116,280		2.08

As of

March 31, 2017,

there was

$116,752

of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted. That cost is expected to be recognized over a weighted-average period of

0.765

years. The share-based compensation recognized relating to the unvested shares was

$40,461

for the

three

month periods ended

March 31, 2017 (

March 31, 2016:

$68,417

) and is included in general and administrative expenses.