Note 8. Stock Options and Restricted Stock Units (Tables)

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Summary of stock options issued

	Number of Options Outstanding			Range of Exercise Price		Weighted Average Exercise Price		Aggregate Intrinsic Value
Balance at December 31, 2015		246,000		$	0.01 - 13.49	$	7.69	$	187,798
Options granted		—			—		—		—
Options exercised		(20,900	)		0.01 - 3.33		1.67		89,180
Options forfeited/cancelled		(61,250	)		7.76 - 9.26		8.11		—
Balance at December 31, 2016		163,850		$	0.01 - 13.49	$	8.30	$	297,542
Options granted		32,000			13.00		13.00		—
Options exercised		(56,645	)		0.01 - 9.26		6.32		393,729
Options forfeited/cancelled		(1,917	)		9.26		9.26		3,984
Balance at December 31, 2017		137,288		$	0.01 - 13.49	$	10.20	$	1,119,562

Schedule of stock options

		Options Outstanding						Options Exercisable
Exercise Price		Number		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)		Number
$	0.01 - $1.00		7,850	$	0.01		4.05		7,850
$	1.01 - $7.00		10,000		6.80		7.89		5,833
$	7.01 - $8.00		42,188		7.76		3.38		42,188
$	8.01 - $10.00		5,250		9.26		6.99		4,747
$	10.01 - $13.49		72,000		13.27		4.99		37,500
	Total		137,288	$	10.19		4.73		98,118

Schedule of stock options, valuation assumptions

	Year ended  December 31, 2017
Expected dividend yield		1.54	%
Expected stock price volatility		54	%
Weighted-average risk-free interest rate		1.91	%
Weighted-average expected life of options (in years)		5.27

Summary of restricted stock units issued

	Number of Options Outstanding			Weighted Average Fair Value		Aggregate Intrinsic Value
Balance at December 31, 2015		108,000		$	7.76	$	626,400
Units granted		88,500			5.28		467,300
Units vested/issued		(55,000	)		7.32		379,588
Units forfeited		(15,000	)		6.61		111,941
Balance at December 31, 2016		126,500		$	6.35	$	1,138,500
Units granted		17,500			10.75		104,000
Units vested/issued		(69,170	)		6.95		799,563
Units forfeited		(9,665	)		7.88		106,330
Balance at December 31, 2017		65,165		$	6.66	$	1,111,703