XML 44 R31.htm IDEA: XBRL DOCUMENT v3.7.0.1
SHAREHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2016
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, 2016, 2015 and 2014 is as follows:

 

    2016     2015     2014  
    Shares     Price (1)     Shares     Price (1)     Shares     Price (1)  
                                     
Outstanding, beginning of year     390,525     $ 20.64       2,276,079     $ 3.78       2,646,949     $ 3.56  
Granted     -       -       340,711       1.50       60,000       3.77  
Forfeited     -       -       -       -       (3,333 )     2.08  
Expired     -       -       (273,768 )     3.86       -       -  
Exercised     -       -       -       -       (427,537 )     2.46  
                                                 
Outstanding, end of year     390,525     $ 20.64       2,343,022     $ 3.44       2,276,079     $ 3.78  
Shares restated after 6 to 1 split     390,525     $ 20.64       390,525     $ 20.64       379,347     $ 22.69  
                                                 
Exercisable, end of year     2,194,022     $ 3.53       2,194,022     $ 3.53       2,031,413     $ 3.92  
Shares restated after 6 to 1 split     376,084     $ 20.97       365,693     $ 21.17       338,569     $ 22.75  

 

  (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, 2016:

 

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  
                                       
  56,786     $ 9.00     $ 9.00     $ 9.00       8.0       45,675     $ 9.00  
  49,504       12.48       12.48       12.48       6.5       49,504       12.48  
  98,396       13.92       17.10       15.01       2.8       98,396       15.01  
  185,839       22.62       30.24       29.35       1.0       182,509       29.48  
                                                     
  390,525     $ 9.00     $ 30.24     $ 20.64       3.2       376,084     $ 20.97  
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, 2016, 2015 and 2014:

 

    2016     2015     2014  
                   
Shares available for future grants     -       2,108,578       790,000  
Shares restated after 6 to 1 split     -       351,430       131,667  
Aggregate intrinsic value for options:                        
Outstanding   -     -     -  
Exercisable   $ -     $ -     $ -
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  
Expected lives (in years)     6.0       6.0  
Risk-free interest rate     1.77 %     2.06 %
Expected volatility     63.36 %     65.45 %
Expected dividend yield     0.00 %     0.00 %