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Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Share-Based Compensation [Abstract]  
Weighted-average assumptions used in determining fair value of share based awards
The Company determines the fair value of share based awards at the grant date by using the Black-Scholes option-pricing model, and is incorporating the simplified method to compute expected lives of share based awards with the following weighted-average assumptions:
 
Years ended
December 31,
 
2014
 
 
2013
 
Assumptions
 
 
 
 
 
 
 
 
Dividend yield
 
 
0
%
 
 
0
%
Risk free interest rate
 
 
1.00%-1.69%
 
 
 
.85%-1.64%
 
Expected volatility
 
 
59%-66%
 
 
 
59%-76%
 
Expected lives
 
 
3-5 years
 
 
 
5 years
 
Summary of status of company's stock option plan
A summary of the activity for the Company's Plans for the indicated periods is presented below:
 
Stock Option Plan Totals
 
Shares
 
Weighted
Average
Exercise Price
 
Outstanding at December 31, 2012
 
 
3,348,935
 
$
1.23
 
-Cancelled
 
 
(58,617)
 
$
1.87
 
-Exercised
 
 
(945,761)
 
$
1.20
 
-Granted
 
 
173,354
 
$
2.59
 
Outstanding at December 31, 2013
 
 
2,517,911
 
$
1.33
 
-Exercised
 
 
(292,537)
 
$
1.03
 
-Granted
 
 
1,055,500
 
$
3.28
 
Outstanding at December 31, 2014
 
 
3,280,874
 
$
1.98
 
Weighted average contractual life and exercise price
The following is the weighted average contractual life in years and the weighted average exercise price at December 31, 2014 of:
 
 
 
 
 
 
Weighted Average
 
 
 
 
 
 
Number of
 
Remaining
 
Weighted Average
 
 
 
Options
 
Contractual Life
 
Exercise Price
 
Options outstanding
 
 
3,280,874
 
3.3 years
 
$
1.98
 
Options vested
 
 
3,212,263
 
3.3 years
 
$
1.94
 
Intrinsic value
The following is the intrinsic value at December 31, 2014 of:
 
Options outstanding
 
$
5,907,000
 
Options vested in 2014
 
$
535,000
 
Options exercised in 2014
 
$
793,000