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Capital Stock, Stock Plans and Stock Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes stock-based compensation recognized for the three and six months ended June 30, 2022 and 2021 for our employee and director stock options.

 

   2022   2021   2022   2021 
   Three Months Ended   Six Months Ended 
Stock Options  June 30,   June 30, 
   2022   2021   2022   2021 
Employee Stock Options  $86,000   $33,000   $172,000   $66,000 
Director Stock Options   17,000    9,000    33,000    21,000 
Total  $103,000   $42,000   $205,000   $87,000 
Schedule of Stock Options Roll Forward

The summary of the Company’s total Stock Option Plans as of June 30, 2022 and June 30, 2021, and changes during the periods then ended, are presented below. The Company’s Plans consist of the 2010 Stock Option Plan, the 2017 Plans and the 2003 Outside Directors Stock Plan, as amended (“2003 Plan”):

 

   Shares   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(years)		   Aggregate
Intrinsic
Value (3)		 
Options outstanding January 1, 2022   1,019,400   $4.91         — 
Granted    —   $ —           
Exercised   (50,000)  $3.97        $98,000 
Forfeited/expired    —   $ —           
Options outstanding end of period (1)   969,400   $4.96    3.7   $883,991 
Options exercisable at June 30, 2022(1)   405,900   $3.91    2.5   $577,276 

 

   Shares   Weighted
Average
Exercise
Price		   Weighted
Average
Remaining
Contractual
Term
(years)		   Aggregate
Intrinsic
Value (3)		 
Options outstanding January 1, 2021   658,400   $3.87         — 
Granted   6,000   $7.50           
Exercised   (500)  $3.15        $2,175 
Forfeited/expired   (1,500)  $3.15           
Options outstanding end of period (1)   662,400   $3.90    3.1   $2,153,595 
Options exercisable at June 30, 2021(2)   391,900   $4.08    3.1   $1,202,495 

 

(1) Options with exercise prices ranging from $2.79 to $7.50
(2) Options with exercise prices ranging from $2.79 to $7.29
(3) The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price.