XML 70 R14.htm IDEA: XBRL DOCUMENT
v2.4.0.8

NOTE 8 - STOCKHOLDERS' EQUITY | 12 Months Ended
--- | ---
Dec. 31, 2013
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 - STOCKHOLDERS’ EQUITY In May 2013, we sold approximately 662,000 shares of common stock to various investors, including certain directors of the Company and other entities affiliated with the directors at a purchase price of $5.31 per share, for proceeds, net of fees and expenses, of approximately $3,433. We sold the shares pursuant to a registration statement on Form S-3 and a related prospectus supplement. We used $2,000 of the funds to make a required principal payment under our loan agreement with Deerpath Funding. We used the balance of the net proceeds for general corporate purposes and repayment of additional outstanding debt. 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 384,000 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 2013 or 2012. 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 795,000 options granted and outstanding pursuant to the 2009 Plan as of December 31, 2013. We use the Black-Scholes option valuation model to value employee stock awards. We estimate stock price volatility based upon our historical volatility. Estimated option life and forfeiture rate assumptions are derived from historical data. For stock-based compensation awards with graded vesting, we recognize compensation expense using the straight-line amortization method. Total compensation expense recognized in the Consolidated Statements of Comprehensive Income (Loss) for stock based awards was $160 and $88 for 2013 and 2012, respectively. The following table summarizes the assumptions used to develop their fair value for 2013 and 2012:
|  | Year Ended December 31, |
|  | 2013 |  |  | 2012 |
Risk-free interest rate |  |  | 1.71 | % |  |  | 0.350 | %
Expected volatility |  |  | 0.63 |  |  |  | 0.91 |
Expected life in years |  |  | 4.50 |  |  |  | 3.75 |
Dividend yield |  |  | - |  |  |  | - |
As of December 31, 2013, Asure had reserved shares of common stock for future issuance as follows:
Options outstanding |  |  | 795,000 |
Options available for future grant |  |  | 105,000 |
Shares reserved |  |  | 900,000 |
The following table summarizes activity under all Plans during 2013 and 2012.
|  | For 2013 |  |  | For 2012 |
|  |  |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  | Exercise |  |  |  |  |  | Exercise |
|  | Shares |  |  | Price |  |  | Shares |  |  | Price |
Outstanding at the beginning of the year |  |  | 679,000 |  |  | $ | 3.16 |  |  |  | 530,000 |  |  | $ | 2.35 |
Granted |  |  | 216,000 |  |  |  | 5.66 |  |  |  | 260,000 |  |  |  | 6.42 |
Exercised |  |  | (17,000 | ) |  |  | 2.02 |  |  |  | (37,000 | ) |  |  | 2.01 |
Canceled |  |  | (83,000 | ) |  |  | 5.82 |  |  |  | (74,000 | ) |  |  | 2.43 |
Outstanding at the end of the year |  |  | 795,000 |  |  | $ | 3.58 |  |  |  | 679,000 |  |  | $ | 3.16 |
Options exercisable at the end of the year |  |  | 369,000 |  |  | $ | 2.54 |  |  |  | 242,000 |  |  | $ | 2.32 |
Weighted average fair value of options granted during the year |  |  | 5.66 |  |  |  |  |  |  |  | 6.42 |  |  |  |  |
The following table summarizes the outstanding and exercisable options and their exercise prices as of December 31, 2013:
|  |  | OPTIONS OUTSTANDING |  |  | OPTIONS EXERCISABLE |
RANGE OF EXERCISE PRICES |  |  | NUMBER OUTSTANDING AT DECEMBER 31, 2013 |  |  | WEIGHTED-AVERAGE REMAINING CONTRACTUAL LIFE (YEARS) |  |  | WEIGHTED-AVERAGE EXERCISE PRICE |  |  | NUMBER EXERCISABLE AND VESTED AT DECEMBER 31, 2013 |  |  | WEIGHTED-AVERAGE EXERCISE PRICE |
$ | 1.50 | -- | 2.11 |  |  |  | 32,000 |  |  |  | 3.40 |  |  | $ | 2.01 |  |  |  | 24,000 |  |  | $ | 1.97 |
| 2.33 | -- | 2.33 |  |  |  | 467,000 |  |  |  | 2.49 |  |  |  | 2.33 |  |  |  | 319,000 |  |  |  | 2.33 |
| 2.57 | -- | 6.42 |  |  |  | 296,000 |  |  |  | 4.55 |  |  |  | 5.73 |  |  |  | 26,000 |  |  |  | 5.63 |
$ | 1.50 | -- | 6.42 |  |  |  | 795,000 |  |  |  | 3.29 |  |  | $ | 3.58 |  |  |  | 369,000 |  |  | $ | 2.54 |
The aggregate intrinsic value of options outstanding and options exercisable is $1,612 and $1,134, respectively, at December 31, 2013.

X
- Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration