4) Stock-based Compensation: Schedule of stock inventive plan changes (Tables)

3 Months Ended

Mar. 31, 2014

Tables/Schedules

Schedule of stock inventive plan changes

A summary of the status of the Company’s stock incentive plans as of March 31, 2014, and the changes during the three months ended March 31, 2014, is presented below:

	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares(1)	Weighted Average Exercise Price(1)
Outstanding at December 31, 2013	405,133	$      2.41	5,086,562	$      2.00
Granted	-		-
Exercised	(34,955)	1.44	-
Cancelled	(1,838)	2.92	-
Outstanding at March 31, 2014	368,340	$      2.50	5,086,562	$      2.00
As of March 31, 2014:
Options exercisable	303,716	$      2.06	4,692,812	$      1.75
As of March 31, 2014:
Available options for future grant	314,480		1,050,000
Weighted average contractual term of options
outstanding at March 31, 2014	7.02 years		2.36 years
Weighted average contractual term of options
exercisable at March 31, 2014	6.45 years		2.17 years
Aggregated intrinsic value of options
outstanding at March 31, 2014	$631,778		$1,098,384
Aggregated intrinsic value of options
exercisable at March 31, 2014	$631,586		$1,098,384
(1) Class “C” shares are converted to Class “A” shares on a 10 to 1 ratio. The Weighted Average Exercise Price is based on Class A Common shares.