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Note 2 - Stock-based Compensation
 3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
2.     
stock-based compensation
 
The Company accounts for compensation expense associated with stock options and restricted stock units (“RSUs”) based on the fair value of the options and units on the date of grant.
 
The Company’s net income (loss) for the three months ended March 31, 2016 and 2015 includes approximately $273,000 and $273,000, respectively, of non-cash compensation expense related to the Company’s stock compensation grants. On January 1, 2016, the Company granted 53,882 RSUs to its board of directors as partial compensation for the 2016 year. On January 1, 2015, the Company granted 51,349 RSUs to its board of directors as partial compensation for the 2015 year. RSUs vest straight line on a quarterly basis over a one year period. The non-cash compensation expense related to all of the Company’s stock-based compensation arrangements is recorded as a component of selling, general and administrative expenses.
 
The estimated fair value of each RSU granted was determined based on the fair market value of the Company’s common stock on the date of grant.
 
A summary of the status of the Company’s stock option plans as of March 31, 2016 and changes during the three months ended March 31, 2016 is as follows:
 
 
  
Options
    
Weighted
average 
e
xercise
 
price
    
Weighted
average
remaining 
contractual
term (in years)
    
Aggregate
i
ntrinsic value
  
Outstanding
at beginning of period
     269,983     $ 11.29                  
Forfeited
     (55,000 )     15.27                  
Outstanding and vested
at end of period
     214,983     $ 10.27       1.84     $ 40,049  
 
 
During the three months ended March 31, 2016, no stock options were granted or exercised.
 
The intrinsic value of all options exercised during the three months ended March 31, 2015 was approximately $230,500.