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SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2015
Stockholders' Equity Note [Abstract]  
Schedule of stock options

A summary of the combined activity in the 2001 ISOP, the 2012 Equity Plan, and the 2008 Director SOP for the years ended December 31, 2015, 2014 and 2013 is as follows:

 

    2015     2014     2013  
    Shares     Price (1)     Shares     Price (1)     Shares     Price (1)  
                                     
Outstanding, beginning of year     2,276,079     $ 3.78       2,646,949     $ 3.56       2,409,282     $ 3.75  
Granted     340,711       1.50       60,000       3.77       306,000       2.08  
Forfeited     -       -       (3,333 )     2.08       -       -  
Expired     (273,768 )     3.86               -       (68,333 )     3.46  
Exercised     -       -       (427,537 )     2.46       -       -  
                                                 
Outstanding, end of year     2,343,022     $ 3.44       2,276,079     $ 3.78       2,646,949     $ 3.56  
                                                 
Exercisable, end of year     2,194,022     $ 3.53       2,031,413     $ 3.92       2,194,287     $ 3.84  

 

  (1) Represents the weighted average price.
Schedule of stock options outstanding and for stock options exercisable

The following table summarizes information for stock options outstanding and for stock options exercisable at December 31, 2015:

 

Options Outstanding     Options Exercisable  
Number     Exercise Price     Remaining     Number     Weighted  
of     Range     Weighted     Contractual     of     Average  
Shares     Low     High     Average     Term (years)     Shares     Exercise Price  
                                       
  340,711     $ 1.50     $ 1.50     $ 1.50       9.0       240,711     $ 1.50  
  297,000       2.08       2.08       2.08       7.5       288,000       2.08  
  590,311       2.32       2.52       2.50       3.8       590,311       2.50  
  1,115,000       3.77       4.97       4.89       2.1       1,075,000       4.93  
                                                     
  2,343,022     $ 1.50     $ 4.97     $ 3.44       4.2       2,194,022     $ 3.53  
Schedule of number of options available for grant as well as the intrinsic value of the options outstanding and exercisable

The following table sets forth the number of options available for grant as well as the intrinsic value of the options outstanding and exercisable as of December 31, 2015, 2014 and 2013: 

 

    2015     2014     2013  
                   
Shares available for future grants     2,108,578       790,000       790,000  
                         
Aggregate intrinsic value for options:                        
Outstanding   $ -     $ -     $ 1,661  
Exercisable   $ -     $ -     $ 1,073  
Schedule of assumprtions fair value of options

In estimating the fair value of options, the Company used the Black-Scholes option-pricing model with the following weighted average assumptions:

 

    2015     2014     2013  
                   
Expected lives (in years)     6.0       6.0       6.0  
Risk-free interest rate     1.77 %     2.06 %     1.66 %
Expected volatility     63.36 %     65.45 %     62.59 %
Expected dividend yield     0.00 %     0.00 %     0.00 %