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Stock-Based Compensation Plan (Tables) | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Schedule of employee service stock-based compensation, allocation of recognized period costs | The stock-based compensation expense included in the Company’s statements of income for the years ended December 31, 2019 and 2018, consisted of the following:
|  | Years Ended December 31,
Income Statement Classification |  | 2019 |  | 2018
Cost of revenues |  | $ | 94,803 |  |  | $ | 81,141 |
Research and development |  |  | 151,121 |  |  |  | 128,552 |
Sales and marketing |  |  | 121,633 |  |  |  | 126,312 |
General and administrative |  |  | 152,334 |  |  |  | 151,801 |
|  | $ | 519,891 |  |  | $ | 487,806 |
Stock options' weighted average assumptions | The weighted-average estimated fair value of stock options granted during 2019 and 2018 was $1.08 and $1.62, respectively, using the following weighted-average assumptions:
|  | Years Ended December 31,
|  | 2019 |  | 2018
Risk-free interest rate (%) |  |  | 1.614 | % |  |  | 2.96 | %
Dividend yield |  |  | — |  |  |  | — |
Volatility factor |  |  | 42.58 | % |  |  | 56.02 | %
Expected option life (years) |  |  | 7.2 |  |  |  | 6.4 |
Schedule of stock-based compensation, stock option, activity | The table below presents the information related to stock option activity for the years ended December 31, 2019 and 2018:
|  | Years Ended December 31,
|  | 2019 |  | 2018
Total intrinsic value of stock options exercised |  | $ | 16,568 |  |  | $ | 197,130 |
Cash received from stock option exercises |  | $ | 23,314 |  |  | $ | 279,176 |
Stock-based compensation arrangement by stock-based payment award, options, vested and unvested, outstanding and exercisable | Changes in stock options as of and for the years ended December 31, 2019 and 2018 are as follows:
|  |  |  |  |  |  | Outstanding Options
|  |  | Shares Available For Grant |  |  |  | Number of Shares |  |  |  | Weighted Average Price Per Share |  |  |  | Remaining Contractual Term (in years) |  |  |  | Intrinsic Value |
Balance at December 31, 2017 |  |  | 85,337 |  |  |  | 2,247,026 |  |  | $ | 2.50 |  |  |  |  |  |  |  |  |
Increase in shares authorized |  |  | 280,445 |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Granted |  |  | (281,300 | ) |  |  | 281,300 |  |  | $ | 2.86 |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | (121,981 | ) |  | $ | 2.29 |  |  |  |  |  |  |  |  |
Canceled |  |  | 32,221 |  |  |  | (32,221 | ) |  | $ | 3.61 |  |  |  |  |  |  |  |  |
Balance at December 31, 2018 |  |  | 116,703 |  |  |  | 2,374,124 |  |  | $ | 2.54 |  |  |  |  |  |  |  |  |
Increase in shares authorized |  |  | 235,324 |  |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Granted |  |  | (551,256 | ) |  |  | 551,256 |  |  | $ | 2.20 |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | (24,494 | ) |  | $ | 0.95 |  |  |  |  |  |  |  |  |
Canceled |  |  | 508,100 |  |  |  | (508,100 | ) |  | $ | 2.92 |  |  |  |  |  |  |  |  |
Balance at December 31, 2019 |  |  | 308,871 |  |  |  | 2,392,786 |  |  | $ | 2.40 |  |  |  | 5.58 |  |  | $ | 193,170 |
Exercisable |  |  |  |  |  |  | 1,714,299 |  |  | $ | 2.34 |  |  |  | 4.17 |  |  | $ | 193,170 |
Unvested |  |  |  |  |  |  | 683,589 |  |  | $ | 2.50 |  |  |  | 9.08 |  |  |  | — |
Schedule of stock-based compensation, shares authorized under stock option plans, by exercise price range | The following table summarizes information about stock options outstanding and exercisable at December 31, 2019:
|  |  |  |  | Options Outstanding |  |  |  |  | Options Exercisable
| Range of Exercise Prices |  |  |  | Number of Options Outstanding |  |  |  | Weighted Average Remaining Life (Years) |  |  |  | Weighted Average Exercise Price |  |  |  | Number of Options Exercisable |  |  |  | Weighted Average Exercise Price |
| $0.95 - $1.25 |  |  |  | 340,380 |  |  |  | 3.58 |  |  | $ | 1.05 |  |  |  | 340,380 |  |  | $ | 1.05 |
| $1.50 - $1.82 |  |  |  | 141,855 |  |  |  | 2.08 |  |  | $ | 1.73 |  |  |  | 141,855 |  |  | $ | 1.73 |
| $1.89 - $2.27 |  |  |  | 513,647 |  |  |  | 6.08 |  |  | $ | 2.07 |  |  |  | 369,493 |  |  | $ | 2.07 |
| $2.32 - $2.49 |  |  |  | 474,860 |  |  |  | 6.00 |  |  | $ | 2.34 |  |  |  | 135,317 |  |  | $ | 2.34 |
| $2.50 - $2.75 |  |  |  | 318,182 |  |  |  | 6.17 |  |  | $ | 2.69 |  |  |  | 300,210 |  |  | $ | 2.69 |
| $2.82 - $2.93 |  |  |  | 219,374 |  |  |  | 8.17 |  |  | $ | 2.93 |  |  |  | 107,459 |  |  | $ | 2.93 |
| $3.04 - $3.88 |  |  |  | 200,880 |  |  |  | 3.67 |  |  | $ | 3.37 |  |  |  | 194,901 |  |  | $ | 3.37 |
| $4.22 - $4.49 |  |  |  | 183,608 |  |  |  | 7.42 |  |  | $ | 4.24 |  |  |  | 124,684 |  |  | $ | 4.24 |
| $0.95 - $4.49 |  |  |  | 2,392,786 |  |  |  | 5.58 |  |  | $ | 2.40 |  |  |  | 1,714,299 |  |  | $ | 2.40 |

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