XML 53 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
NOTE 8 - STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2011
Stockholders' Equity Note Disclosure [Text Block]
NOTE 8 - STOCKHOLDERS' EQUITY

SHARE REPURCHASE PROGRAM

Pursuant to Asure’s stock repurchase plan, the Company is allowed to repurchase up to 300 shares of the Company’s common stock.  During the year ended December 31, 2010 Asure repurchased 43 shares of common stock for $110.  In total, Asure has repurchased 256 shares for approximately $5.0 million over the life of the plan.  Management will periodically assess repurchasing additional shares, depending on the Company’s cash position, market conditions and other factors.  While the program remains in place, the Company did not repurchase any shares during 2011.

STOCK AND STOCK OPTION PLANS

Asure has one active equity plan, the 2009 Equity Plan (the "2009 Plan"). The 2009 Plan provides for the issuance of non-qualified and incentive stock options to employees and consultants of the Company. Stock options are generally granted with exercise price greater than or equal to the fair market value at the time of grant and the options generally vest over three to four years and are exercisable for a period of five to ten years beginning with date of grant.  The Company’s 1996 Plan expired in April 2006, whereby the Company can no longer grant options under these plans.  However, options previously granted remain outstanding. Total compensation expense recognized in the Consolidated Statements of Operations for stock based awards was $81 and 53 for the years ending December 31, 2011 and 2010, respectively.   

The following table summarizes the assumptions used to develop their fair value for 2011, 2010:

   
Year Ended December 31,
 
   
2011
   
2010
 
Risk-free interest rate
    0.875 %     2.34 %
Expected volatility
    0.91       0.987  
Expected life in years
    3.89       4.53  
Dividend yield
    -       -  

As of December 31, 2011, Asure had reserved shares of common stock for future issuance under the 2009 and 1996 Plans as follows:

Options outstanding
   
353
 
Options available for future grant
   
0
 
Shares reserved
   
353
 

The following table summarizes activity under all Plans for the years ended December 31, 2011 and 2010, respectively.

   
For the Twelve months ended December 31, 2011
   
For the Twelve months ended December 31, 2010
 
         
Weighted
         
Weighted
 
         
Average
         
Average
 
         
Exercise
         
Exercise
 
   
Shares
   
Price
   
Shares
   
Price
 
Outstanding at the
 beginning of the year
   
180
   
$
3.06
     
211
   
$
4.36
 
Granted
   
313
     
3.49
     
15
     
2.52
 
Exercised
   
(2
) 
   
3.14
     
-
     
N/A
 
Canceled
   
(138
 )
   
3.12
     
(46
)
   
8.81
 
Outstanding at the end of
 the year
   
353
   
$
3.42
     
180
   
$
3.06
 
Options exercisable at the
 end of the year
   
81
   
$
  3.29
     
55
   
$
3.13
 
Weighted average fair
 value of options
 granted during the year
      1.91                      
1.83
 

The following table summarizes the outstanding and exercisable options and their exercise prices as of December 31, 2011.

     
OPTIONS OUTSTANDING
   
OPTIONS EXERCISABLE
 
RANGE OF
EXERCISE PRICES
   
NUMBER
OUTSTANDING AT
DECEMBER 31, 2011
   
WEIGHTED-AVERAGE
REMAINING CONTRACTUAL
LIFE (YEARS)
   
WEIGHTED-AVERAGE
EXERCISE PRICE
   
NUMBER EXERCISABLE
AND VESTED AT
DECEMBER 31, 2011
   
WEIGHTED-AVERAGE
EXERCISE PRICE
 
                                 
$
2.25--2.90
     
30
     
7.35
   
$
2.50
     
18
   
$
2.51
 
 
3.50--3.50
     
319
     
5.01
     
3.50
     
59
     
3.50
 
 
3.85--3.85
     
4
     
0.99
     
3.85
     
4
     
3.85
 
                                             
$
2.25--3.85
     
353
     
5.16
   
$
3.42
     
81
   
$
3.29
 

The aggregate intrinsic value of options outstanding and options exercisable is $1,041 and 1,087, respectively, at December 31, 2011.