Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Shareholders' Equity [Abstract]

Shareholders' equity:

Note 14 – Shareholders’ equity:

During the years ended December 31, 2014 and 2013, the Company granted stock awards of 128,000 and 121,000 shares of common stock, respectively, to certain executives, key employees and a consultant.  Compensation expense recorded in connection with the stock awards for the years ended December 31, 2014 and 2013 aggregated approximately $356,000 and $306,000, respectively.

During 2014, an officer, directors, and a former director of the Company exercised stock options to purchase 145,000 shares of the Company’s common stock for approximately $63,000 in cash and the withholding by the Company of 14,633 shares underlying the stock options.  As a result, 130,367 shares were issued upon exercise, and approximately $49,600 is reflected as paid in capital on the consolidated balance sheet as a result of the stock option exercises.

During 2013, several employees of the Company and a consultant exercised options to purchase 193,400 shares of the Company’s common stock for approximately $80,000 in cash and the withholding by the Company of 42,838 shares underlying the stock options.  As a result, 150,562 shares were issued upon exercise, and approximately $80,000 is reflected as paid in capital on the consolidated balance sheet as a result of the stock option exercises.

On April 15, 2014, the Company paid a special cash dividend of $0.05 per common share to all shareholders of record on April 1, 2014. The dividend aggregated $440,016.