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SHAREHOLDERS' EQUITY | 12 Months Ended
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Dec. 31, 2013
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | Note 9 – Shareholders’ Equity Incentive Compensation Plan In June 2010 shareholders approved an amendment and restatement of the Company’s stock incentive plan, renaming it the Incentive Compensation Plan (the “Plan”), and among other things, increasing the number of shares of the Company’s common stock reserved for issuance under the Plan to 1,630,000. The Plan provides that the shares reserved under the Plan are available for issuance to officers of the Company, other key employees, non-employee directors, and advisors. The Plan is a successor to the Company’s previous plans, and any shares awarded and outstanding under those plans were transferred to the Plan. No further grants or share issuances will be made under the previous plans. The Plan provides for nonqualified stock options, qualified (or incentive) stock options and stock grants. The Plan has a provision to reduce the number of shares reserved for award and issuance under the Plan by a ratio of 1.59 shares of common stock for each share of common stock that is issued pursuant to a Full Value Award (stock grant). The Plan also provides for an Incentive Bonus Program with incentive bonus opportunities through performance unit awards and special cash incentive programs tied to the attainment of pre-established performance milestones. Provisions of the Plan include an automatic annual grant to each non-employee director of options to purchase up to 2,000 shares on the date of the Company’s Annual Shareholder Meeting, at an exercise price equal to the market price of the Company’s common shares on that date, and an automatic annual grant of 500 restricted stock units of the Company’s common shares. Options and restricted stock units awarded under the automatic annual grant program for non-employee directors vest after one year. Other options may vest fully and immediately, or over periods of time as determined by the Plan Administrator, but no longer than seven years from the grant date. Discretionary options currently awarded under the Plan vest over a period of 5 years. Under the Plan, a total of 18,000 restricted stock units have been granted, consisting of annual automatic grants to non-employee directors and the corporate secretary. The Company granted 3,000 shares of restricted stock in 2013 with a fair value of $2.16 per share. For the year ended December 31, 2013, total compensation expense recorded in the consolidated statements of income related to restricted stock units was $3,700, with an offsetting tax benefit of $1,800, as this expense is deductible for income tax purposes. As of December 31, 2013, there was $1,700 of total unrecognized compensation cost related to restricted sock units which is expected to be recognized over a period of .5 years. During 2013, shares of restricted stock units totaling 3,000 with a fair value of $6,180 were vested and became unrestricted. Changes in options outstanding under the Stock Option Plans during 2013 are as follows :
|  |  |  |  |  | Weighted |  |  |
|  |  |  | Weighted |  | Average |  |  |
|  |  |  | Average |  | Remaining |  | Aggregate |
|  | Number |  | Exercise |  | Contractual |  | Intrinsic |
Options |  | of Options |  | Price |  | Term (Years) |  | Value |
Balance at December 31, 2012 |  | 596,000 |  | $ | 3.58 |  |  |  |  |  |
Granted |  | 21,500 |  | $ | 2.23 |  |  |  |  |  |
Exercised |  | - |  | $ | - |  |  |  |  |  |
Forfeited |  | (16,500) |  | $ | 4.50 |  |  |  |  |  |
Balance at December 31, 2013 |  | 601,000 |  | $ | 3.50 |  | 1.42 |  | $ | - |
Exercisable at December 31, 2013 |  | 575,900 |  | $ | 3.55 |  | 1.18 |  | $ | - |
The weighted average grant-date fair value of the options granted during the years 2013, 2012 and 2011 was $1.28, $1.60, and $1.51 respectively. There was no total intrinsic value of options exercised during any of the years ended December 31, 2013 and 2012 and 2011. There was no cash received from options exercised under any share-based payment arrangements for the years ended December 31, 2013, 2012 and 2011, and as a result, there was no actual tax benefit realized for tax deductions from option exercises in any of those years. A summary of the status of the Company’s non-vested options as of December 31, 2013, and changes during the year ended December 31, 2013 is presented below:
|  |  |  | Weighted |
|  |  |  | Average |
|  | Number |  | Grant-Date |
Nonvested Options |  | of Options |  | Fair Value |
Nonvested at December 31, 2012 |  | 35,000 |  | $ | 1.28 |
Granted |  | 21,500 |  | $ | 1.28 |
Vested |  | (14,000) |  | $ | 1.29 |
Forfeited |  | (16,500) |  | $ | 1.46 |
Nonvested at December 31, 2013 |  | 26,000 |  | $ | 1.25 |
At December 31, 2013, there was approximately $54,000 of unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Plan. This cost is expected to be recognized over a period of approximately five years. The Company’s stock-based awards to employees are calculated using the Black-Scholes options valuation model. The Black-Scholes model was developed for use in estimating the fair value of traded options which have no vesting restrictions and are fully transferable. In addition, the Black-Scholes model requires the input of highly subjective assumptions including the expected stock price volatility. The Company’s stock-based awards have characteristics significantly different from those of traded options, and changes in the subjective input assumptions can materially affect the present value estimates. For these reasons, management believes that the existing models do not necessarily provide a reliable single measure of the fair value of its stock-based awards to employees. The fair value of the Company’s option grants issued during 2013, 2012 and 2011 were estimated using assumptions for expected life, volatility, dividend yield, forfeiture rate, and risk-free interest rate which are specific to each award as summarized in the following table. The estimated fair value of the Company’s options is amortized over the period during which the optionee is required to provide service in exchange for the award, usually the vesting period. The fair value of the Company’s option grants under the Plan in 2013, 2012 and 2011 was estimated assuming the following weighted-average assumptions:
|  | 2013 |  |  | 2012 |  |  | 2011 |
Expected life (years) |  | 7.0 |  |  | 7.0 |  |  | 7.0 |
Expected forfeiture rate |  | 0.0 | % |  | 0.0 - 4.0 | % |  | 2.0 - 3.7 | %
Expected volatility |  | 49 | % |  | 40 - 45 | % |  | 40 - 45 | %
Dividend yield |  | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Risk-free interest rate |  | 2.6 - 3.0 | % |  | 1.7 | % |  | 3.0 - 3.3 | %
Repurchase of Common Stock, Common Stock Warrants and Stock Options In 1999 and 2001, the Board of Directors approved resolutions authorizing the Company to repurchase up to a total of 1,000,000 shares of its own stock on the open market, which the Board reaffirmed in 2008. There were no shares of the Company repurchased during 2013. During 2012 the Company repurchased approximately 9,000 shares of its stock on the open market. There were no shares of the Company’s stock repurchased during 2011. There are approximately 72,000 shares remaining under this repurchase authorization.

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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 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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