5) Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2020

Table Text Block Supplement [Abstract]

Schedule of stock inventive plan changes

A summary of the status of the Company’s stock compensation plans as of March 31, 2020, and the changes during the three months ended March 31, 2020, are presented below:

	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at January 1, 2020	1,086,053	$      4.41	594,132	$      5.36
Adjustment for effect of stock dividends	829		-
Granted	37,500		90,000
Exercised	(42,294)		-
Cancelled	-		-
Outstanding at March 31, 2020	1,082,088	$      4.44	684,132	$      5.15
As of March 31, 2020:
Options exercisable	985,366	$      4.42	452,381	$      5.39
As of March 31, 2020:
Available options for future grant	97,218		-
Weighted average contractual term of options
outstanding at March 31, 2020	5.57 years		5.96 years
Weighted average contractual term of options
exercisable at March 31, 2020	5.16 years		4.70 years
Aggregated intrinsic value of options
outstanding at March 31, 2020 (1)	$489,237		$41,150
Aggregated intrinsic value of options
exercisable at March 31, 2020 (1)	$471,642		$               -
(1) The Company used a stock price of $4.27 as of March 31, 2020 to derive intrinsic value.

A summary of the status of the Company’s stock compensation plans as of March 31, 2019, and the changes during the three months ended March 31, 2019, are presented below:

	Number of Class A Shares	Weighted Average Exercise Price	Number of Class C Shares	Weighted Average Exercise Price
Outstanding at January 1, 2019	1,011,274	$      4.49	577,280	$      5.15
Granted	2,000		-
Exercised	(968)		-
Cancelled	-		-
Outstanding at March 31, 2019	1,012,306	$      4.49	577,280	$      5.15
As of March 31, 2019:
Options exercisable	898,472	$      4.36	506,404	$      5.13
As of March 31, 2019:
Available options for future grant	295,128		146,425
Weighted average contractual term of options
outstanding at March 31, 2019	5.89 years		3.71 years
Weighted average contractual term of options
exercisable at March 31, 2019	5.71 years		2.87 years
Aggregated intrinsic value of options
outstanding at March 31, 2019 (1)	$704,498		$137,424
Aggregated intrinsic value of options
exercisable at March 31, 2019 (1)	$704,498		$137,424
(1) The Company used a stock price of $4.72 as of March 31, 2019 to derive intrinsic value.