7 - SHARE BASED COMPENSATION

3 Months Ended

Mar. 31, 2016

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 three months ended March 31, 2016 is as follows:

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

Outstanding at December 31, 2015		456,000	$	1.20		4.3	$	17,000
Grants		-
Forfeited		-
Outstanding at March 31, 2016		456,000		1.20		4.1	$	13,200
Exercisable at March 31, 2016		320,333	$	1.28		3.2	$	2,400

At March 31, 2016 the range of individual outstanding weighted average exercise prices was $0.98 to $1.37.