7 - SHARE BASED COMPENSATION

9 Months Ended

Sep. 30, 2015

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

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

7 – SHARE BASED COMPENSATION

Accounting for stock options issued to employees measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. Outstanding options to purchase Class A common stock (“the Options”) vest in three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan. The option activity during the nine months ended September 30, 2015 is as follows:

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

Outstanding at December 31, 2014		392,500		$	1.24		4.8	$	13,400
Grants		79,000			1.04
Forfeited		(15,500	)		1.34
Outstanding at September 30, 2015		456,000			1.20		4.6	$	17,900
Exercisable at September 30, 2015		320,333		$	1.28		3.7	$	6,200

At September 30, 2015 the range of individual outstanding weighted average exercise prices was $0.99 to $1.50.