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Note 11 - Stockholders' Equity | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Stockholders' Equity Note Disclosure [Text Block] | 1 1 . STOCKHOLDERS' EQUITY
a) | Stock Option Plan
We have one stock option plan that terminated in March 2017. This plan permitted annual stock option grants to non-employee directors with an exercise price equal to the fair market value of the shares at the date of grant. Options outstanding and exercisable were granted at a stock option price which was not less than the fair market value of our common stock on the date the option was granted and no option has a term in excess of ten years. A summary of stock option transactions for the years ended Decem ber 31 is as follows:
|  | 201 7 |  |  | 201 6 |  |  | 201 5 |
|  |  |  |  |  | Weighted |  |  |  |  |  |  | Weighted |  |  |  |  |  |  | Weighted |
|  |  |  |  |  | Average |  |  |  |  |  |  | Average |  |  |  |  |  |  | Average |
|  | Option |  |  | Exercise |  |  | Option |  |  | Exercise |  |  | Option |  |  | Exercise |
|  | Shares |  |  | Price |  |  | Shares |  |  | Price |  |  | Shares |  |  | Price |
Outstanding at January 1 |  |  | 56,400 |  |  | $ | 5.14 |  |  |  | 68,400 |  |  | $ | 5.17 |  |  |  | 72,400 |  |  | $ | 5.16 |
Granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or cancelled |  |  | (12,000 | ) |  |  | 5.14 |  |  |  | (12,000 | ) |  |  | 5.30 |  |  |  | (2,000 | ) |  |  | 4.96 |
Exercised |  |  | (44,400 | ) |  |  | 5.14 |  |  |  | - |  |  |  | - |  |  |  | (2,000 | ) |  |  | 4.96 |
Outstanding at December 31 |  |  | - |  |  | $ | - |  |  |  | 56,400 |  |  | $ | 5.14 |  |  |  | 68,400 |  |  | $ | 5.17 |
Exercisable at end of year |  |  | - |  |  | $ | - |  |  |  | 56,400 |  |  | $ | 5.14 |  |  |  | 68,400 |  |  | $ | 5.17 |
Weighted-average fair value of options granted during year |  |  | n/a |  |  |  |  |  |  |  | n/a |  |  |  |  |  |  |  | n/a |  |  |  |  |
Because we had no awards of stock options in 201 7, 2016 and 2015, we were not required to record any compensation cost for stock options. The intrinsic value of stock options exercised in 2017 and 201 5 was $155,606 and $2,953, respectively. Cash received from the exercise of stock options for 2017, 2016, and 2015 was $223,404, $ - and $9,920, respectively. We have a restricted stock plan that was adopted by our Board of Directors in January 2013 and approved by our stockholders in June 2013. The plan reserves up to 300,000 shares of our common stock for restricted stock awards to our executive officers, non-employee directors and other key employees. Awards granted under the plan may be stock awards or performance awards, and may be subject to a graded vesting schedule with a minimum vesting period of four years, unless otherwise determined by the committee that administers the plan. A summary of the activity for non -vested restricted common stock awards is as follows:
|  | Shares |  |  | Grant Fair Value |
Balance, January 1, 2016 |  |  | 60,432 |  |  | $ | 8.97 |
Granted |  |  | 33,685 |  |  |  | 7.14 |
Forfeited |  |  | (8,187 | ) |  |  | 8.97 |
Vested |  |  | (20,780 | ) |  |  | 8.97 |
Balance, December 31, 2016 |  |  | 65,150 |  |  | $ | 8.03 |
Balance, January 1, 201 7 |  |  | 65,150 |  |  | $ | 8.03 |
Granted |  |  | 9,005 |  |  |  | 8.05 |
Forfeited |  |  | (4,054 | ) |  |  | 8.97 |
Vested |  |  | (33,300 | ) |  |  | 8.97 |
Balance, December 31, 201 7 |  |  | 36,801 |  |  | $ | 8.03 |
W e recognized share based compensation expense of $239,599, $199,870, and $145,321 in 2017, 2016 and 2015, respectively, as a component of operating expenses. As of December 31, 2017, there was unrecognized compensation cost related to non-vested restricted stock awards of $174,314 which will be recognized in each of the following years as follows:
201 8 |  | $ | 100,127 |
201 9 |  |  | 58,126 |
20 20 |  |  | 14,853 |
202 1 |  |  | 1,208 |
Of the 300,000 shares available for issuance, there are 188,225 shares available for future awards.
b) | Cash Dividend
Our Board will determine future cash dividends after giving consideration to existing levels of profit and cash flow, capital requirements, current and forecasted liquidity, as well as financial and other business conditions existing at the time.
c) | Stockholder Rights Plan
On June 6, 2013, our Board of Directors authorized and declared a dividend of one preferred share purchase right (a “Right” and collectively, the “Rights”) for each outstanding share of our common stock, par value $0.0024 per share, to stockholders of record at the close of business on June 16, 2013. Each Right entitled the registered holder to purchase from us one one -thousandth of a newly created series of preferred stock at an exercise price of $30.00 per Right. The Rights were exercisable in the event any person or group acquires 20% or more of our outstanding common stock (an “Acquiring Person”), or commences a tender offer or exchange offer that would result in such person becoming an Acquiring Person. An exception was included in the Rights plan to ensure that certain owners are not, by virtue of their share ownership, automatically deemed to be an Acquiring Person upon adoption of the plan unless any such owner subsequently accrued additional shares of our common stock and after giving effect to such acquisition owns 20% or more of our outstanding common stock. The Rights expired on June 6, 2017.
d) | Share Repurchase Program
In August 2015, our Board authorized a share repurchase program pursuant to which we are authorized to repurchase up to 1.2 million shares of our common stock at prevailing market rates through August 2016. Subsequently, the program was amended to increase the number of shares available for repurchase from 1.2 million to 2.2 million and to extend the program through August 2018. In 2017, there were no shares repurchased under this plan. At December 31, 2017, there are 1,150,793 shares available for repurchase under the plan.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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