Number of Class A Shares

Weighted Average Exercise Price

Number of Class C Shares

Weighted Average Exercise Price

Outstanding at December 31, 2013

405,133

$ 2.41

508,657

$ 2.00

Granted

52,000

4.29

50,000

4.72

Exercised

(40,468)

1.66

-

Cancelled

(8,201)

2.29

-

Outstanding at September 30, 2014

408,464

$ 2.75

558,657

$ 2.00

As of September 30, 2014:

Options exercisable

334,869

$ 2.40

495,532

$ 1.92

As of September 30, 2014:

Available options for future grant

412,480

55,000

Weighted average contractual term of options

outstanding at September 30, 2014

7.01 years

2.57 years

Weighted average contractual term of options

exercisable at September 30, 2014

6.45 years

1.80 years

Aggregated intrinsic value of options

outstanding at September 30, 2014 (1)

$913,166

$1,524,902

Aggregated intrinsic value of options

exercisable at September 30, 2014 (1)

$869,804

$1,512,402

(1) The Company used a stock price of $4.97 as of September 30, 2014 to derive intrinsic value.