XML 23 R8.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Stock-Based Compensation | 3 Months Ended
--- | ---
Dec. 31, 2014
Stock-Based Compensation [Abstract] |
Stock-Based Compensation | Note 3. Stock-Based Compensation Stock-based compensation is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite service period (generally the vesting period of the grant). Our net loss for the three month periods ended December 31, 2014 and December 31, 2013 includes $67,000 and $32,000, respectively, of compensation costs related to our stock-based compensation arrangements. Stock Option awards The Company measures the compensation cost associated with stock option awards by estimating the fair value of the award as of the grant date using the Black-Scholes pricing model. The Company believes that the valuation technique and the approach utilized to develop the underlying assumptions are appropriate in calculating the fair values of the Company's stock options and stock awards granted during fiscal 2014. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by the employees who receive equity awards. During the three months ended December 31, 2013 the Company granted 89,500 incentive stock options from available shares under its 2008 Plan, as amended, with an exercise price of $2.48 and a per-share weighted average fair value of $2.12. In addition to the exercise and grant date prices of the stock option awards, certain weighted average assumptions that were used to estimate the fair value of stock option grants are listed in the following table:
|  | Fiscal 2014 Incentive Stock Options
Expected term (years) |  |  | 6.5 |
Expected volatility |  |  | 112.11 | %
Risk-free interest rate |  |  | 1.94 | %
Expected dividends |  |  | 0 |
We estimate expected volatility based on historical weekly price changes of our common stock for a period equal to the current expected term of the options. The risk-free interest rate is based on the United States treasury yields in effect at the time of grant corresponding with the expected term of the options. The expected option term is the number of years we estimate that options will be outstanding prior to exercise considering vesting schedules and our historical exercise patterns. The following table summarizes stock option activity for the three month period ended December 31, 2014 under all plans:
|  | Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Yrs.) |
Outstanding-beg of year |  |  | 396,910 |  |  | $ | 3.87 |  |  |  |  |  |
Options granted |  |  | 0 |  |  | $ |  |  |  |  |  |  |
Options exercised |  |  | (3,891 | ) |  | $ | 1.83 |  |  |  |  |  |
Forfeited |  |  | 0 |  |  |  |  |  |  |  |  |  |
Expired |  |  | (11,853 | ) |  | $ | 9.33 |  |  |  |  |  |
Outstanding Dec 31, 2014 |  |  | 381,166 |  |  | $ | 3.72 |  |  |  | 7.0 |  |
Exercisable Dec 31, 2014 |  |  | 181,245 |  |  | $ | 5.20 |  |  |  | 5.5 |  |
As of December 31, 2014, the aggregate intrinsic value of the outstanding and exercisable options was $1,600,000 and $685,000, respectively. Only options whose exercise price is below the current market price of the underlying stock are included in the intrinsic value calculation. As of December 31, 2014, the total remaining unrecognized compensation cost related to non-vested stock options was $198,000 and is expected to be recognized over a weighted average period of approximately 1.92 years. Restricted Stock Grants During the fiscal year 2014, the Company issued 123,840 shares of restricted stock to certain employees and executive officers from available shares under its 2008 Plan, as amended. The shares were issued with a grant date fair market value of $3.23 which is equal to the closing price of the stock on the date of the grants. The restricted stock grant vests three years following the grant date. A summary of the status of non-vested restricted stock as of December 31, 2014 is presented below.
|  | Shares |  | Weighted Average Grant Date Fair Value Per Share
Non-vested shares at beg of year |  |  | 123,840 |  |  | $ | 3.23 |
Granted |  |  | 0 |  |  |  |  |
Vested |  |  | 0 |  |  |  |  |
Non-vested shares at Dec 31, 2014 |  |  | 123,840 |  |  | $ | 3.23 |
As of December 31, 2014, there was $335,000 of total unrecognized compensation cost related to non-vested restricted stock. This cost is expected to be recognized over a weighted average period of approximately 2.58 years.

X
- Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration