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NOTE 8 - STOCKHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2014
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.

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 2014 or 2013.

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 2014 to increase the number of shares reserved under the plan from 1,200,000 to 1,400,000. We have a total of 735,000 options granted and outstanding pursuant to the 2009 Plan as of December 31, 2014.

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 Loss for stock based awards was $226 and $160 for 2014 and 2013, respectively.

The following table summarizes the assumptions used to develop their fair value for 2014 and 2013:

   
Year Ended December 31,
 
   
2014
   
2013
 
Risk-free interest rate
   
1.71
%
   
1.71
%
Expected volatility
   
0.63
     
0.63
 
Expected life in years
   
3.63
     
4.50
 
Dividend yield
   
-
     
-
 

As of December 31, 2014, Asure had reserved shares of common stock for future issuance as follows:

Options outstanding
   
735,000
 
Options available for future grant
   
599,000
 
Shares reserved
   
1,334,000
 

The following table summarizes activity under all Plans during 2014 and 2013.

   
For 2014
   
For 2013
 
         
Weighted
         
Weighted
 
         
Average
         
Average
 
         
Exercise
         
Exercise
 
   
Shares
   
Price
   
Shares
   
Price
 
Outstanding at the beginning of the year
   
795,000
   
$
3.58
     
679,000
   
$
3.16
 
Granted
   
190,000
     
5.78
     
216,000
     
5.66
 
Exercised
   
(12,000
) 
   
2.05
     
(17,000
) 
   
2.02
 
Canceled
   
(238,000
)
   
5.64
     
(83,000
)
   
5.82
 
Outstanding at the end of the year
   
735,000
   
$
3.51
     
795,000
   
$
3.58
 
Options exercisable at the end of the year
   
492,000
   
$
  2.69
     
369,000
   
$
  2.54
 
Weighted average fair value of options granted during the year
   
5.78
             
  5.66
         

The following table summarizes the outstanding and exercisable options and their exercise prices as of December 31, 2014:

   
OPTIONS OUTSTANDING
   
OPTIONS EXERCISABLE
 
RANGE OF
EXERCISE PRICES
 
NUMBER
OUTSTANDING AT
DECEMBER 31, 2014
 
WEIGHTED-
AVERAGE
REMAINING CONTRACTUAL
LIFE (YEARS)
   
WEIGHTED-AVERAGE
EXERCISE PRICE
   
NUMBER EXERCISABLE
AND VESTED AT
DECEMBER 31, 2014
   
WEIGHTED-AVERAGE
EXERCISE PRICE
 
                             
$  1.50 -- 2.11  
14,000
   
2.90
   
$
1.92
     
14,000
   
$
1.92
 
     2.33 -- 2.33  
467,000
   
3.29
     
2.33
     
425,000
     
2.33
 
     2.57 -- 6.42  
254,000
   
4.18
     
5.76
     
53,000
     
5.75
 
                                       
$  1.50 -- 6.42  
735,000
   
3.59
   
$
3.51
     
492,000
   
$
2.69
 

The aggregate intrinsic value of options outstanding and options exercisable is $1,561 and $1,448, respectively, at December 31, 2014.