Severance Charge

9 Months Ended

Sep. 30, 2014

Severance Charge Abstract [Abstract]

Severance Charge Disclosure [Text Block]

5. Severance Charge

On September 15, 2014, by mutual agreement of the Board of Directors (the “Board”) of the Company and Philip J. Young, Mr. Young stepped down from his role as President and Chief Executive Officer of the Company, effective September 15, 2014. In accordance with Mr. Young’s employment agreements, the Company recorded a severance charge in the quarter ended September 30, 2014 of $1,840,000 related to severance-period compensation and benefits, as well as stock-based compensation expense related to the accelerated vesting of stock options. The composition of the severance charge is as follows:

Compensation and benefits	$	679,000
Stock-based compensation expenses related to accelerated vesting		1,161,000
Total severance charge	$	1,840,000