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7. Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Schedule of stock purchases

The table below describes the purchase of our common stock for the twelve-month periods ended December 31, 2019 and 2018:

 

   Twelve Months Ended 
   December 31, 2019   December 31, 2018 
                 
   Shares   Avg. Price   Shares   Avg. Price 
Open market purchases   335,546   $3.95    1,258,797   $3.77 
Shares redeemed upon net exercise of stock options   18,424    3.76    33,604    4.37 
Other   24,500    4.20    90,000    4.13 
Total stock purchases   378,470   $3.97    1,382,401   $3.81 
Schedule of assumptions for stock options

The dividend yield is estimated to be zero based on our intention not to issue dividends for the foreseeable future.

 

   Year Ended December 31, 
   2019   2018   2017 
Expected life (years)   4.02    3.99    4.02 
Risk-free interest rate   1.53%    2.74%    1.59% 
Volatility   37%    34%    36% 
Expected dividend yield   –    –    – 
Schedule of option activity
  

Number of

Shares

(in thousands)

  

Weighted

Average

Exercise Price

  

Weighted

Average

Remaining

Contractual

Term

Options outstanding at the beginning of period   14,421   $4.57   N/A
Granted   1,490    3.53   N/A
Exercised   (488)   0.86   N/A
Forfeited/Expired   (75)   4.00   N/A
Options outstanding at the end of period   15,348   $4.59   3.34 years
              
Options exercisable at the end of period   11,717   $4.87   2.69 years