EQUITY INCENTIVE PLANS (Tables)

12 Months Ended

Dec. 31, 2019

EQUITY INCENTIVE PLANS [Abstract]

Assumptions Made in Calculating Fair Values of Options

The weighted-average assumptions made in calculating the fair values of options are as follows for the respective years ended December 31:

	2019		2018
Expected term (in years)		n/a		4.96
Expected volatility		n/a		39.91	%
Expected dividend yield		n/a		n/a
Risk-free interest rate		n/a		2.70	%

Stock Option Activity

The following table provides stock option activity for the years ended December 31, 2019 and 2018:

	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at December 31, 2017		810,670	$	5.18	3.69 years	$	2,477,853
Granted		93,750		9.80
Exercised		144,947		4.83			523,327
Forfeited/expired/cancelled		47,505		8.82
Outstanding at December 31, 2018		711,968	$	5.62	3.33 years	$	687,364
Exercisable at December 31, 2018		396,799	$	4.70	2.66 years	$	568,956
Outstanding at December 31, 2018		711,968	$	5.62	3.33 years	$	687,364
Granted		–	$	0.00			–
Exercised		54,343	$	3.60			172,242
Forfeited/expired/cancelled		15,000	$	5.68			–
Outstanding  at December 31, 2019		642,625	$	5.79	2.57 years	$	285,925
Exercisable at December 31, 2019		493,958	$	5.22	2.20 years	$	285,925

Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2019:

	Stock Options Outstanding								Stock Options Exercisable
Range of Exercise Prices	Shares Outstanding		Average Remaining Contract Life (Year)		Weighted Average Exercise Price		Aggregate Intrinsic Value		Shares Exercisable		Weighted Average Exercise Price		Aggregate Intrinsic Value
1 to 2.79999		–		–	$	–	$	–		–	$	–	$	–
2.8 to 4.59999		250,000		1.20		3.42		285,925		250,000		3.42		285,925
4.6 to 6.39999		137,875		2.44		5.87		–		87,125		5.89		–
6.4 to 8.19999		207,875		4.05		7.31		–		138,083		7.22		–
8.2 to 12		46,875		3.60		11.45		–		18,750		11.45		–
Total		642,625		2.57	$	5.79	$	285,925		493,958	$	5.22	$	285,925

Summary of Restricted Stock and Restricted Stock Units Outstanding

The following table summarizes information about restricted stock and restricted stock units outstanding as of December 31, 2019:

	Number of Shares & Units			Weighted Average Grant Date Fair Value
Unvested at December 31, 2018		287,564		$	9.65
Granted		375,000			5.80
Vested		(116,578	)		9.65
Forfeited/expired/cancelled		–			–
Unvested at December 31, 2019		545,986			7.47