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Note 5 - Stock-based Compensation; Changes in Equity | 3 Months Ended
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Mar. 31, 2020
Notes to Financial Statements |
Share-based Payment Arrangement [Text Block] | Note 5 - Stock-Based Compensation; Changes in Equity The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718 which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the condensed consolidated financial statements based on their grant-date fair values. The Company has applied the Black-Scholes model to value stock-based awards and issued warrants related to notes payable. That model incorporates various assumptions in the valuation of stock-based awards relating to the risk-free rate of interest to be applied, the estimated dividend yield and expected volatility of our common stock. The risk-free rate of interest is the related U.S. Treasury yield curve for periods within the expected term of the option at the time of grant. The dividend yield on our common stock is estimated to be 0%, as the Company did not issue dividends during 2019. The expected volatility is based on historical volatility of the Company’s common stock. The Company’s net loss for the three months ended March 31, 2020 and 2019 includes approximately none and $29,000, respectively, of compensation costs related to share based payments. As of March 31, 2020, there was no unrecognized compensation expense related to non-vested stock option grants and stock grants. On April 10, 2009, the Board of Directors approved for adoption, and on June 5, 2009, the shareholders of the Corporation approved, a 2009 Stock Incentive Plan ( “2009 Plan”). The 2009 Plan authorized the issuance of up to 510,000 shares of stock or options to purchase stock of the Company (including cancelled shares reissued under the plan.) On June 8, 2018, our shareholders approved the 2018 Stock Incentive Plan ( “2018 Plan”). The 2018 Plan authorized the issuance of up to 300,000 shares of our common stock in the form of equity-based awards. Because no registration on Form S- 8 was filed for these additional shares within 12 months of approval by our shareholders, those additional shares are not available for issuance in the normal course. As of March 31, 2020, options for 20,000 shares remain outstanding. A summary of the Company’s stock option activity, which includes grants of non-qualified stock options, incentive stock options, warrants and related information, is as follows:
|  | Shares under Option |  |  | Weighted Average Exercise Price |
Balance at December 31, 2019 |  |  | 471,144 |  |  | $ | 3.95 |
Granted |  |  | 612,660 |  |  |  | 1.00 |
Cancelled/Expired |  |  | 432,519 |  |  |  | - |
Exercised/Issued |  |  | 15,000 |  |  |  | 5.48 |
Outstanding at March 31, 2020 |  |  | 636,285 |  |  | $ | 1.10 |
Exercisable at March 31, 2020 |  |  | 19,625 |  |  | $ | 5.48 |
The instruments above have no aggregate intrinsic value (the difference between the closing price of the Company’s common stock on the last trading day of the quarter ended March 31, 2020 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all the holders exercised their options on March 31, 2020.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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