Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Stock-Based Compensation

Summary of the activity in the plans

	2016				2015
	Number Outstanding		Weighted Average Exercise Price		Number Outstanding			Weighted Average Exercise Price
Outstanding at beginning of year		90,625	$	4.95		93,750		$	4.94
Granted during the year		450,000		1.62		-			-
Exercised during the year		-		-		-			-
Forfeited or expired during the year		-		-		(3,125	)		4.80
Outstanding at end of year		540,625	$	2.18		90,625		$	4.95
Exercisable at end of year		90,625	$	4.95		90,625		$	4.95

Summary of options outstanding and exercisable

Options outstanding and exercisable at year-end 2016 were as follows:

	Outstanding								Exercisable
Grant Date	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Aggregate Intrinsic Value		Number Outstanding		Weighted Average Exercise Price		Aggregate Intrinsic Value
January 21, 2009		9,375		2.05 years	$	4.00				9,375	$	4.00
March 18, 2009		75,000		2.21 years	$	4.98				75,000	$	4.98
January 21, 2010		6,250		3.05 years	$	6.00				6,250	$	6.00
February 24, 2016		450,000		9.15 years	$	1.62				-		-
		540,625		7.99 years	$	2.18	$	9,000		90,625	$	4.95	$	-