Annual report pursuant to Section 13 and 15(d)

Management Incentive Plans (Tables)

v3.7.0.1
Management Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2016
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
For options issued in 2015, the following assumptions were utilized in the Black-Scholes pricing model:
 
 
 
2015
 
Dividend yield
 
 
-
 
Expected volatility
 
 
75
%
Risk free rate of return
 
 
1.22
%
Expected life of options
 
 
4 years
 
Weighted average grant date fair value
 
$
3.92
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
Exercise Price and
 
 
 
Weighted Average
 
 
 
Weighted Average
 
Outstanding as of
 
Remaining Life
 
Exercisable as of
 
Exercise Price
 
December 31, 2015
 
(years)
 
December 31, 2015
 
$
2.73
 
 
1,167,500
 
 
5.7
 
 
 
$
4.75
 
 
120,000
 
 
7.7
 
 
 
$
6.00
 
 
25,000
 
 
9.3
 
 
 
$
2.20
 
 
120,000
 
 
14.0
 
 
 
$
2.00
 
 
160,000
 
 
14.6
 
 
 
$
2.25
 
 
82,500
 
 
14.6
 
 
 
$
2.75
 
 
77,500
 
 
14.6
 
 
 
 
 
 
 
1,752,500
 
 
8.0
 
 
 
Unvested Option [Member]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Stock option activity for 2015 is set forth below:
 
 
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Grant Date
 
Stock Option Activity
 
Shares
 
Fair Value
 
Unvested at December 31, 2014
 
 
120,000
 
$
0.18
 
Granted
 
 
320,000
 
 
3.92
 
Vested
 
 
-
 
 
0.00
 
Forfeited
 
 
-
 
 
0.00
 
Unvested at December 31, 2015
 
 
440,000
 
$
2.90
 
Vested Option [Member]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The Company had the following options vested at December 31: 
 
 
 
 
Options vested at December 31, 2014
 
 
1,337,500
 
Vested during 2015
 
 
-
 
Forfeited during 2015
 
 
(25,000)
 
Options vested at December 31, 2015
 
 
1,312,500