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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2018
Stockholders' Equity Note [Abstract]  
Schedule of Stock Options Activity

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, 2018 and 2017 is as follows:

 

   2018   2017 
   Shares   Price (1)   Shares   Price (1) 
                 
Outstanding, beginning of year   389,687   $8.05    390,525   $20.64 
Granted   -    -    170,000    1.00 
Forfeited   -    -    -    - 
Expired   (69,225)   15.12    (170,838)   29.82 
Exercised   -    -    -    - 
                     
Outstanding, end of year   320,462   $6.52    389,687   $8.05 
                     
Exercisable, end of year   265,462   $7.63    274,132   $10.79 

 

  (1) Represents the weighted average price.
Schedule of Stock Options Outstanding and Exercisable

The following table summarizes information for stock options outstanding and for stock options exercisable at December 31, 2018:

 

Options Outstanding   Options Exercisable 
   Exercise Price          
Number   Range      Remaining   Number   Weighted 

of

Shares

   Low   High  

Weighted

Average

  

Contractual

Term (years)

  

of

Shares

  

Average

Exercise Price

 
                          
 170,000   $0.72   $1.16   $1.00    8.8    115,000   $0.93 
 106,290    9.00    12.48    10.62    5.3    106,290    10.62 
 29,171    13.92    17.10    14.74    3.4    29,171    14.74 
 15,001    22.62    30.24    24.03    4.5    15,001    24.03 
                                 
 320,462   $0.72   $30.24   $6.52    6.9    265,462   $7.63 
Schedule of Assumptions Fair Value of Options

In estimating the fair value of stock options issued in 2017, the Company used the Black-Scholes option-pricing model with the following assumptions:

 

     
Expected lives (in years)   10.0 
Risk-free interest rate   2.33%
Expected volatility   80.0%
Expected dividend yield   0.0%