Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2014

Assumptions of Estimated Fair Value of Options

We used the following assumptions in estimating the fair value of the options issued in the periods indicated below:


	Year Ended December 31,
	2014			2013			2012
Expected volatility		56.7	%		57.0	%		59.0	%
Risk free interest rate		2.39	%		2.73	%		1.64	%
Expected dividend yields		N/A			N/A			N/A
Expected lives		10 yrs.			10 yrs.			10 yrs.

Summary of Stock Option Activity

The following tables summarize stock option activity during the years ended December 31, 2014 and 2013:


	Year Ended December 31, 2014
	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Values
Outstanding at January 1, 2014		279,000		$	3.31
Granted		8,000			3.30
Exercised		(142,000	)		1.14
Forfeited		(44,000	)		5.72

Outstanding at December 31, 2014		101,000			5.31		4.0 years	$	15,300

Exercisable at December 31, 2014		93,000			5.48		3.5 years	$	15,300

Options vested and expected (as of December 31, 2014) to vest in the future		101,000			5.31		4.0 years	$	15,300


	Year Ended December 31, 2013
	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Values
Outstanding at January 1, 2013		433,000		$	3.60
Granted		10,000			3.80
Exercised		(30,500	)		0.94
Forfeited		(133,500	)		4.84

Outstanding at December 31, 2013		279,000			3.31		2.5 years	$	321,200

Stock Options Outstanding Under Equity Incentive Plans

Set forth below is additional information with respect to the stock options that were outstanding under our equity incentive plans at December 31, 2014:


Range	Outstanding Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Options Exercisable		Weighted Average Exercise Price
$1.80 – $4.25		46,000	$	3.14		7.2		38,000	$	3.11
$4.90 – $9.80		55,000		7.12		1.3		55,000		7.12

$1.80 – $9.80		101,000	$	5.31		4.0		93,000	$	5.48

Summary of Restricted Share Activity

A summary of restricted stock activity during the years ended December 31, 2014 and 2013 is presented below:


	Shares			Weighted Average Grant Date Fair Values
Outstanding at January 1, 2014		318,660			$3.27
Granted		164,500			3.66
Vested		(103,503	)		3.44
Forfeited		(110,672	)		3.31

Outstanding and unvested at end of year		268,985			$3.43


	Shares			Weighted Average Grant Date Fair Values
Outstanding at January 1, 2013		312,501			$3.39
Granted		167,500			2.96
Vested		(105,504	)		3.29
Forfeited		(55,837	)		2.96

Outstanding and unvested at end of year		318,660			$3.27