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Other Related Party Transactions
6 Months Ended
Jun. 30, 2015
Related Party Transactions [Abstract]  
Other Related Party Transactions

NOTE H — OTHER RELATED PARTY TRANSACTIONS

During the three months ended June 30, 2015 and 2014, Steven C. Jones, a director of the Company, earned approximately $65,000 and $65,000, respectively, for various consulting work performed in connection with his duties as Executive Vice President of Finance. During the six months ended June 30, 2015 and 2014, Mr. Jones earned approximately $130,000 and $127,500, respectively, for various consulting work performed in connection with his duties as Executive Vice President of Finance. Mr. Jones also received $77,500 and $47,500 during the six months ended June 30, 2015 and 2014 as payment of his annual bonus compensation for the previous fiscal years, respectively.

On May 4, 2015 the Company granted Steven C. Jones 225,000 stock options. The options were granted at a price of $4.78 per share and had a weighted average fair market value of $1.80 per option. The options vest ratably over the next three years.