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Capital Stock, Stock Plans, Warrants, and Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2020
Share-based Payment Arrangement [Abstract] |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of the options granted during 2020 and 2019 and the related assumptions used in the Black-Scholes option model used to value the options granted were as follows. No options were granted to employees in 2020:
|  | Employee Stock |
|  | Option Granted |
|  | 2019 |
Weighted-average fair value per share |  | $ | 1.46 |
Risk -free interest rate (1) |  |  | 1.40%-2.58 | %
Expected volatility of stock (2) |  |  | 48.67%-51.38 | %
Dividend yield |  |  | None |
Expected option life (3) |  |  | 5.0 years |
|  | Outside Director Stock Options Granted |
|  | 2020 |  |  | 2019 |
Weighted-average fair value per share |  | $ | 4.66 |  |  | $ | 2.27 |
Risk -free interest rate (1) |  |  | 0.59%-1.61 | % |  |  | 2.08 | %
Expected volatility of stock (2) |  |  | 55.83%-56.68 | % |  |  | 54.28 | %
Dividend yield |  |  | None |  |  |  | None |
Expected option life (3) |  |  | 10.0 years |  |  |  | 10.0 years |
(1) The risk-free interest rate is based on the U.S. Treasury yield in effect at the grant date over the expected term of the option. (2) The expected volatility is based on historical volatility from our traded Common Stock over the expected term of the option. (3) The expected option life is based on historical exercises and post-vesting data.
Schedule of Share-based Compensation, Allocation of Recognized Period Costs | The following table summarizes stock-based compensation recognized for fiscal years 2020 and 2019.
|  | Year Ended |
|  | 2020 |  |  | 2019 |
Employee Stock Options |  | $ | 132,000 |  |  | $ | 150,000 |
Director Stock Options |  |  | 104,000 |  |  |  | 29,000 |
Total |  | $ | 236,000 |  |  | $ | 179,000 |
Schedule of Stock Options Roll Forward | The summary of the Company’s total plans as of December 31, 2020 and 2019, and changes during the period then ended are presented as follows:
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (4) |
Options outstanding January 1, 2020 |  |  | 681,300 |  |  | $ | 3.84 |  |  |  |  |  |  |  |  |
Granted |  |  | 24,000 |  |  | $ | 6.92 |  |  |  |  |  |  |  |  |
Exercised |  |  | (12,500 | ) |  | $ | 3.47 |  |  |  |  |  |  | $ | 16,060 |
Forfeited/expired |  |  | (34,400 | ) |  | $ | 5.52 |  |  |  |  |  |  |  |  |
Options outstanding end of period (1) |  |  | 658,400 |  |  | $ | 3.87 |  |  |  | 3.5 |  |  | $ | 1,426,143 |
Options exercisable at December 31, 2020(2) |  |  | 356,400 |  |  | $ | 3.99 |  |  |  | 3.3 |  |  | $ | 732,163 |
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (years) |  |  | Aggregate Intrinsic Value (4) |
Options outstanding January 1, 2019 |  |  | 616,000 |  |  | $ | 4.23 |  |  |  |  |  |  |  |  |
Granted |  |  | 129,500 |  |  |  | 3.24 |  |  |  |  |  |  |  |  |
Exercised |  |  | (32,400 | ) |  |  | 4.10 |  |  |  |  |  |  | $ | 93,000 |
Forfeited/expired |  |  | (31,800 | ) |  |  | 8.68 |  |  |  |  |  |  |  |  |
Options outstanding end of period (3) |  |  | 681,300 |  |  | $ | 3.84 |  |  |  | 4.2 |  |  | $ | 3,587,000 |
Options exercisable as of December 31, 2019(3) |  |  | 286,800 |  |  | $ | 4.28 |  |  |  | 3.8 |  |  | $ | 1,383,000 |
(1) Options with exercise prices ranging from $2.79 to $7.29 (2) Options with exercise prices ranging from $2.79 to $7.05 (3) Options with exercise prices ranging from $2.79 to $8.40 (4) The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price
Schedule of Non Vested Options | The summary of the Company’s nonvested options as of December 31, 2020 and changes during the period then ended are presented as follows:
|  |  |  |  | Weighted Average |
|  |  |  |  | Grant-Date |
|  | Shares |  |  | Fair Value |
Non-vested options January 1, 2020 |  |  | 394,500 |  |  | $ | 1.77 |
Granted |  |  | 24,000 |  |  |  | 4.66 |
Vested |  |  | (96,500 | ) |  |  | 2.00 |
Forfeited |  |  | (20,000 | ) |  |  | 1.62 |
Non-vested options at December 31, 2020 |  |  | 302,000 |  |  | $ | 1.94 |

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