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Note 6 - Common Stock Options
12 Months Ended
Dec. 31, 2015
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
6. Common Stock Options
On November 11, 2005, the board of directors of the Company adopted a stock option plan (“the Plan”) pursuant to which the Company may grant incentive stock and non-qualified stock options to directors, officers, employees or consultants of the Company or an affiliate or other persons as the Compensation Committee may approve.
All options will be non-transferable and may be exercised only by the participant, or in the event of the death of the participant, a legal representative until the earlier of the options’ expiry date or the first anniversary of the participant’s death, or such other date as may be specified by the Compensation Committee.
The term of the options is at the discretion of the Compensation Committee, but may not exceed 10 years from the grant date. The options expire on the earlier of the expiration date or the date three months following the day on which the participant ceases to be a director, officer or employee of or consultant to the Company, or in the event of the termination of the participant with cause, the date of such termination.
The number of common shares reserved for issuance to any one person pursuant to this Plan shall not, in aggregate, exceed 5% of the total number of outstanding common shares. The exercise price per common share under each option will be the fair market value of such shares at the time of the grant. Upon stock option exercise, the Company issues new shares of common stock.
A summary of changes in common stock options issued under the Plan is as follows:
    Options   Exercise Price   Weighted-
Average
Exercise Price
Options outstanding at December 31, 2012     3,669,666     $0.60
$15.00   $ 7.01  
Granted     40,000       15.00       15.00  
Exercised                      
Forfeitures     (316,167 )   2.50
15.00     8.39  
Options outstanding at December 31, 2013     3,393,499     0.60
15.00     6.02  
Granted     1,563,666     1.00
15.00     11.23  
Exercised     (15,000 )     10.00       10.00  
Forfeitures     (58,000 )   2.50
15.00     10.63  
Options outstanding at December 31, 2014     4,884,165     $0.55
-
$15.00     7.03  
Granted     375,928     8.47
-
21.99     17.95  
Exercised     (359,141 )   0.53
-
10.00     3.75  
Forfeitures     (114,375 )   0.55
-
20.93     11.05  
Options outstanding at December 31, 2015     4,
786,577
    $0.53
-
$21.99   $ 8.56  
The weighted average fair value of the options issued to directors, employees and consultants during the fiscal years ended December 31, 2015, 2014 and 2013, was $17.95, $8.23 and $11.37, respectively. Options with an intrinsic value of $2.86, $2.90 and $2.51, became vested during 2015, 2014 and 2013, respectively. The total intrinsic value of options exercisable and total options outstanding at December 31, 2015 was $18,697,000 and $19,044,000, respectively. The total fair value of options vested during the years ended December 31, 2015, 2014 and 2013 was $$5,463,000, $6,999,000 and $632,500, respectively.
 
As of December 31, 2015, there was approximately $5.0 million of unrecognized compensation cost, related to stock options granted under the Plan which will be amortized to stock compensation expense over the next 2.02 years.
The following table summarizes information concerning outstanding options under the Plan as of December 31, 2015:
    Options outstanding   Options Vested and
Outstanding
Exercise       Weighted- Average   Weighted- Average       Weighted- Average
Price   Number   Remaining   Exercise   Number   Exercise
        Contractual Life   Price       Price
                     
$ 0.50       15,000       0.22     $ 0.50       15,000     $ 0.50  
$ 0.72       20,000       0.95     $ 0.72       20,000     $ 0.72  
$ 0.90       255,000       1.44     $ 0.90       255,000     $ 0.90  
$ 2.50       632,559       2.81     $ 2.50       619,559     $ 2.50  
$ 3.75       1,000,000       4.29     $ 3.75       1,000,000     $ 3.75  
$ 5.00       77,700       4.57     $ 5.00       77,700     $ 5.00  
$ 7.00       1,000       5.17     $ 7.00       1,000     $ 7.00  
$ 7.50       701,999       5.30     $ 7.50       701,999     $ 7.50  
$ 8.47       4,500       0.92     $ 8.47       0     $ 8.47  
$ 10.00       1,025,433       7.18     $ 10.00       640,308     $ 10.00  
$ 14.18       21,000       9.84     $ 14.18       0     $ 14.18  
$ 15.00       778,458       7.81     $ 15.00       656,333     $ 15.00  
$ 16.91       65,900       9.74     $ 16.91       0     $ 16.91  
$
18.02
     
15,660
     
9.48
    $
18.02
     
15,660
    $
18.02
 
$ 19.00       22,500       9.26     $ 19.00       0     $ 19.00  
$ 19.09       49,000       9.36     $ 19.09       32,000     $ 19.09  
$ 19.94       6,000       9.36     $ 19.94       0     $ 19.94  
$ 20.11       9,000       9.48     $ 20.11       0     $ 20.11  
$ 20.49       4,500       9.48     $ 20.49       0     $ 20.49  
$ 20.93       70,368       9.48     $ 20.93       0     $ 20.93  
$ 21.99       9,000       9.46     $ 21.99       0     $ 21.99  
                                             
          4,784,577      
5.56
     
8.01
      4,114,857       6.89