Securities Authorized for Issuance under Equity Compensation Plans

3 Months Ended

Mar. 31, 2016

Securities Authorized for Issuance Under Equity Compensation Plans [Abstract]

SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

10.  SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS

During the three months ended March 31, 2016, stock options to purchase an aggregate of 30,000 shares were exercised. The Company received a total of $21,600, withheld 4,519 shares in connection with the net exercise feature of the stock options and delivered an aggregate of 25,481 shares to the option holders who exercised their options.

No stock compensation expense was recognized during the three months ended March 31, 2016 and 2015. At March 31, 2016, there was no unrecognized compensation expense related to stock options. 

No stock awards were issued during the three months ended March 31, 2016 and 2015.

The following table provides information at March 31, 2016 regarding outstanding stock options under the Company’s stock option plans. As used in the table below, “2002 NQ” refers to the Company’s 2002 Non-Qualified Stock Option Plan and “2008 NQ” refers to the Company’s 2008 Non-Qualified Stock Option Plan.

Plan	Date Granted	Shares Underlying Options Outstanding		Shares Underlying Exercisable Options		Exercise Price		Expiration Date	Weighted Average Remaining Term
2002NQ	12/17/07		40,000		40,000	$	1.32	12/16/17		1.7
2008NQ	1/11/09		40,000		40,000	$	0.69	1/10/19		2.8
2008NQ	4/26/10		20,000		20,000	$	2.07	4/25/20		4.1
			100,000		100,000	$	1.22			2.6