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NOTE 8 - STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE 8 - STOCKHOLDERS’ EQUITY

STOCK SPLIT

On March 27, 2012, the Board of Directors declared a 3-for-2 stock split, payable April 30, 2012 to the holders of record of our common stock as of the close of business on April 23, 2012.  We made cash payments based upon the closing price of our shares on the record date in lieu of the issuance of fractional shares.  All prior periods have been adjusted to reflect the impact of the stock split.

SHARE REPURCHASE PROGRAM

Pursuant to Asure’s stock repurchase plan, we may repurchase up to 450,000 shares of our common stock.   We have repurchased a total of 256,000 shares for approximately $5.0 million over the life of the plan.  Management will periodically assess repurchasing additional shares, depending on our cash position, market conditions, financial covenants and other factors.  While the program remains in place, we did not repurchase any shares during 2012 or 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 our employees and consultants. We generally grant stock options with exercise prices greater than or equal to the fair market value at the time of grant.  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.   Our shareholders approved an amendment to the 2009 Plan in June 2012 to increase the number of shares reserved under the plan from 525,000 to 900,000. We have a total of 679,000 options granted and outstanding pursuant to the 2009 Plan as of December 31, 2012.

Total compensation expense recognized in the Consolidated Statements of Comprehensive Income (Loss) for stock based awards was $88 and $81 for 2012 and 2011, respectively.   

The following table summarizes the assumptions used to develop their fair value for 2012 and 2011:

   
Year Ended December 31,
 
   
2012
   
2011
 
Risk-free interest rate
   
0.350
%
   
0.875
%
Expected volatility
   
0.91
     
0.91
 
Expected life in years
   
3.75
     
3.89
 
Dividend yield
   
-
     
-
 

As of December 31, 2012, Asure had reserved shares of common stock for future issuance as follows:

Options outstanding
   
679,000
 
Options available for future grant
   
221,000
 
Shares reserved
   
900,000
 

The following table summarizes activity under all Plans during 2012 and 2011.

   
For the Twelve months ended December 31, 2012
   
For the Twelve months ended December 31, 2011
 
         
Weighted
         
Weighted
 
         
Average
         
Average
 
         
Exercise
         
Exercise
 
   
Shares
   
Price
   
Shares
   
Price
 
Outstanding at the beginning of the year
   
530,000
   
$
2.35
     
270,000
   
$
2.04
 
Granted
   
260,000
     
6.42
     
470,000
     
2.40
 
Exercised
   
(37,000
) 
   
2.01
     
(3,000
) 
   
2.09
 
Canceled
   
(74,000
)
   
2.43
     
(207,000
)
   
2.08
 
Outstanding at the end of the year
   
679,000
   
$
3.16
     
530,000
   
$
2.35
 
Options exercisable at the end of the year
   
242,000
   
$
  2.32
     
122,000
   
$
  2.20
 
Weighted average fair value of options granted during the year
   
  6.42
             
  1.27
         

The following table summarizes the outstanding and exercisable options and their exercise prices as of December 31, 2012:

     
OPTIONS OUTSTANDING
   
OPTIONS EXERCISABLE
 
RANGE OF
EXERCISE PRICES
   
NUMBER
OUTSTANDING AT
DECEMBER 31, 2012
   
WEIGHTED-AVERAGE
REMAINING CONTRACTUAL
LIFE (YEARS)
   
WEIGHTED-AVERAGE
EXERCISE PRICE
   
NUMBER EXERCISABLE
AND VESTED AT
DECEMBER 31, 2011
   
WEIGHTED-AVERAGE
EXERCISE PRICE
 
                                 
$
1.50--2.11
     
60
     
4.33
   
$
2.02
     
28
   
$
1.93
 
 
2.33—2.33
     
467
     
3.49
     
2.33
     
208
     
2.33
 
 
2.57—6.42
     
153
     
5.02
     
6.12
     
6
     
3.72
 
                                             
$
1.50—6.42
     
679
     
3.91
   
$
3.16
     
242
   
$
2.32
 

The aggregate intrinsic value of options outstanding and options exercisable is $1,917 and $859, respectively, at December 31, 2012.