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5) Stock Compensation Plans (Tables)
 3 Months Ended
Mar. 31, 2021
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 March 31, 2021, and the changes during the three months ended March 31, 2021, 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, 2021   1,072,863    $ 4.33   662,666   $ 4.73
Adjustment for effect of stock dividends   -        -    
Granted   -        -    
Exercised   (32,925)       -    
Cancelled   -        -    
Outstanding at March 31, 2021   1,039,938    $ 4.34   662,666   $ 4.73
                 
As of March 31, 2021:                
Options exercisable   1,039,938    $ 4.34   662,666   $ 4.73
                 
As of March 31, 2021:                
Available options for future grant   330,371        266,500    
                 
Weighted average contractual term of options                
outstanding at March 31, 2021   6.28years       6.71years    
                 
Weighted average contractual term of options                
exercisable at March 31, 2021   6.28years       6.71years    
                 
Aggregated intrinsic value of options                
outstanding at March 31, 2021 (1)   $ 5,212,677        $ 3,059,620    
                 
Aggregated intrinsic value of options                
exercisable at March 31, 2021 (1)   $ 5,212,677        $ 3,059,620    

   

(1) The Company used a stock price of $9.35 as of March 31, 2021 to derive intrinsic value.

 

A summary of the status of the Company’s stock compensation plans as of March 31, 2020, and the changes during the three months ended March 31, 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   829        -    
Granted   37,500        90,000    
Exercised   (42,294)       -    
Cancelled   -        -    
Outstanding at March 31, 2020   1,082,088    $ 4.44   684,132   $ 5.15
                 
As of March 31, 2020:                
Options exercisable   985,366    $ 4.42   452,381   $ 5.39
                 
As of March 31, 2020:                
Available options for future grant   97,218        -    
                 
Weighted average contractual term of options                
outstanding at March 31, 2020   5.57years       5.96years    
                 
Weighted average contractual term of options                
exercisable at March 31, 2020   5.16years       4.70years    
                 
Aggregated intrinsic value of options                
outstanding at March 31, 2020 (1)   $ 489,237        $ 41,150    
                 
Aggregated intrinsic value of options                
exercisable at March 31, 2020 (1)   $ 471,642        $ -    

   

(1) The Company used a stock price of $4.27 as of March 31, 2020 to derive intrinsic value.