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4) Stock-based Compensation: Schedule of stock inventive plan changes (Tables) | 3 Months Ended
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Mar. 31, 2017
Tables/Schedules |
Schedule of stock inventive plan changes |
|  | Number of Class A Shares |  | Weighted Average Exercise Price |  | Number of Class C Shares |  | Weighted Average Exercise Price
Outstanding at December 31, 2016 |  | 741,973 |  | $4.33 |  | 556,298 |  | $4.61
Granted |  | - |  |  |  | - |  |
Exercised |  | - |  |  |  | - |  |
Cancelled |  | - |  |  |  | - |  |
Outstanding at March 31, 2017 |  | 741,973 |  | $4.33 |  | 556,298 |  | $4.61
As of March 31, 2017: |  |  |  |  |  |  |  |
Options exercisable |  | 636,764 |  | $3.94 |  | 493,298 |  | $4.26
As of March 31, 2017: |  |  |  |  |  |  |  |
Available options for future grant |  | 253,432 |  |  |  | - |  |
Weighted average contractual term of options |  |  |  |  |  |  |  |
outstanding at March 31, 2017 |  | 7.12 years |  |  |  | 2.42 years |  |
Weighted average contractual term of options |  |  |  |  |  |  |  |
exercisable at March 31, 2017 |  | 6.70 years |  |  |  | 2.13 years |  |
Aggregated intrinsic value of options |  |  |  |  |  |  |  |
outstanding at March 31, 2017 (1) |  | $1,837,828 |  |  |  | $1,264,540 |  |
Aggregated intrinsic value of options |  |  |  |  |  |  |  |
exercisable at March 31, 2017 (1) |  | $1,824,086 |  |  |  | $1,264,540 |  |
(1) The Company used a stock price of $6.80 as of March 31, 2017 to derive intrinsic value.
A summary of the status of the Company’s stock incentive plans as of March 31, 2016, and the changes during the three months ended March 31, 2016, are presented below:
|  | Number of Class A Shares |  | Weighted Average Exercise Price |  | Number of Class C Shares |  | Weighted Average Exercise Price
Outstanding at December 31, 2015 |  | 618,261 |  | $3.89 |  | 577,436 |  | $3.54
Granted |  | - |  |  |  | - |  |
Exercised |  | (28,460) |  | 2.15 |  | - |  |
Cancelled |  | - |  |  |  | - |  |
Outstanding at March 31, 2016 |  | 589,801 |  | $3.97 |  | 577,436 |  | $3.54
As of March 31, 2016: |  |  |  |  |  |  |  |
Options exercisable |  | 484,659 |  | $3.45 |  | 498,686 |  | $2.99
As of March 31, 2016: |  |  |  |  |  |  |  |
Available options for future grant |  | 454,842 |  |  |  | 57,750 |  |
Weighted average contractual term of options |  |  |  |  |  |  |  |
outstanding at March 31, 2016 |  | 7.50 years |  |  |  | 2.50 years |  |
Weighted average contractual term of options |  |  |  |  |  |  |  |
exercisable at March 31, 2016 |  | 7.03 years |  |  |  | 2.16 years |  |
Aggregated intrinsic value of options |  |  |  |  |  |  |  |
outstanding at March 31, 2016 (1) |  | $844,342 |  |  |  | $1,096,391 |  |
Aggregated intrinsic value of options |  |  |  |  |  |  |  |
exercisable at March 31, 2016 (1) |  | $844,342 |  |  |  | $1,096,391 |  |
(1) The Company used a stock price of $5.09 as of March 31, 2016 to derive intrinsic value.

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