7 - SHARE BASED COMPENSATION

12 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

7 - SHARE BASED COMPENSATION

Our 2005 Stock Incentive Plan (the “Plan”) authorizes the issuance of up to 1,000,000 shares pursuant to options or awards granted under the plan. Under the Plan, incentive stock and nonstatutory options were granted at prices equal to at least the fair market value of our Class A common stock at the date of grant. Outstanding options vest in three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in the Plan. The fair value of options was determined using the Black-Scholes option-pricing model with the following weighted average assumptions as follows for 2013: dividend yield of 0%; expected volatility of 40%; a risk free interest rate of approximately 1.47% and an expected holding period of five years and for 2011: dividend yield of 2.5%; expected volatility of 40%; a risk free interest rate of approximately 1.74% and an expected holding period of five years.

Stock option activity during the periods indicated is as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Years Remaining Contractual Term		Aggregate Intrinsic Value

Outstanding at December 31, 2011		427,500		$	1.49		4.4	$	18,300
Granted		90,000			1.02		8.7		-
Forfeited		(63,000	)		2.70		-		-
Outstanding at December 31, 2012		454,500			1.35		4.8	$	6,220
Granted		20,000			0.92		8.7		-
Forfeited		(78,500	)		1.27		-		-
Outstanding at December 31, 2013		396,000			1.34		4.4	$	19,300
Exercisable at December 31, 2013		278,667			1.47		3.8	$	10,200

At December 31, 2013, the range of individual weighted average exercise prices was $0.98 to $1.64.

- 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.

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