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5) Stock Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2020
Table Text Block Supplement [Abstract]  
Schedule of stock inventive plan changes

A summary of the status of the Company’s stock compensation plans as of September 30, 2020, and the changes during the nine months endedSeptember 30, 2020, are presented below:

 

    Number of
Class A Shares		   Weighted Average Exercise Price   Number of
Class C Shares		   Weighted Average Exercise Price
                 
Outstanding at January 1, 2020         1,086,053    $      4.41            594,132    $      5.36
Adjustment for effect of stock dividends              27,968                  19,354    
Granted              77,000                180,000    
Exercised            (78,803)                           -    
Cancelled                       -                           -    
Outstanding at September 30, 2020         1,112,218    $      4.28            793,486    $      4.88
                 
As of September 30, 2020:                
Options exercisable         1,053,033    $      4.39            652,805    $      5.14
                 
As of September 30, 2020:                
Available options for future grant            325,372                266,500    
                 
Weighted average contractual term of options                
outstanding at September 30, 2020   5.72 years       5.94 years    
                 
Weighted average contractual term of options                
exercisable at September 30, 2020   5.51 years       5.49 years    
                 
Aggregated intrinsic value of options                
outstanding at September 30, 2020 (1)   $2,242,693       $1,115,985    
                 
Aggregated intrinsic value of options                
exercisable at September 30, 2020 (1)   $2,228,291       $894,505    
                 
                 
(1) The Company used a stock price of $6.40 as of September 30, 2020 to derive intrinsic value.

 

A summary of the status of the Company’s stock compensation plans as of September 30, 2019, and the changes during thenine months endedSeptember 30, 2019, are presented below:

 

    Number of
Class A Shares		   Weighted Average Exercise Price   Number of
Class C Shares		   Weighted Average Exercise Price
                 
Outstanding at January 1, 2019         1,011,274    $      4.49            577,280    $      5.15
Granted                2,000                           -    
Exercised            (19,796)                (63,814)    
Cancelled                       -                           -    
Outstanding at September 30, 2019            993,478    $      4.50            513,466    $      5.33
                 
As of September 30, 2019:                
Options exercisable            955,195    $      4.46            489,840    $      5.34
                 
As of September 30, 2019:                
Available options for future grant            299,351                146,425    
                 
Weighted average contractual term of options                
outstanding at September 30, 2019   5.40 years       3.63 years    
                 
Weighted average contractual term of options                
exercisable at September 30, 2019   5.34 years       3.37 years    
                 
Aggregated intrinsic value of options                
outstanding at September 30, 2019 (1)   $765,360       $106,646    
                 
Aggregated intrinsic value of options                
exercisable at September 30, 2019 (1)   $765,360       $106,646    
                 
                 
(1) The Company used a stock price of $4.90 as of September 30, 2019 to derive intrinsic value.