Quarterly report pursuant to Section 13 or 15(d)

NOTE 8 - EQUITY (Tables)

v3.3.0.814
NOTE 8 - EQUITY (Tables)
9 Months Ended
Sep. 30, 2015
Disclosure Text Block Supplement [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] A summary of the status of the Company’s stock option plans for the fiscal years ended December 31, 2014 and the nine months ending September 30, 2015 and changes during the years are presented below: (in number of options):

   
Number
of Options
   
Average
Exercise Price
 
Average Remaining
Contractual Term
 
Aggregate
Intrinsic Value
 
                     
Outstanding options at January 1, 2014
   
89,116
   
$
4.80
 
3.4 years
 
$
-0-
 
Options granted
   
80,000
     
4.50
 
4.3 years
       
Options canceled/forfeited
   
(5,270
)
 
$
4.80
           
                           
Outstanding options at December 31, 2014
   
163,846
   
$
4.65
 
2.5 years
 
$
-0-
 
Options granted
   
10,000
   
$
4.00
 
4.7 years
       
Options canceled/forfeited
   
(11,437
)  
$
4.41 
           
                           
Outstanding options at September 30, 2015
   
162,409
   
$
4.62
 
2.9 years
 
$
-0-
 
                           
Vested Options:
                         
September 30, 2015;
   
123,076
   
$
4.70
 
2.6 years
 
$
-0-
 
December 31, 2014:
   
115,653
   
$
4.65
 
1.8 years
 
$
-0-
 
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] The following table summarizes the warrants transactions:

   
Warrants
Outstanding
   
Weighted Average
Exercise Price
 
             
Balance, January 1, 2014
   
25,001
   
$
5.20
 
Granted
   
-
   
$
-
 
Exercised
   
8,333
   
$
3.60
 
Canceled
   
16,668
   
$
4.20
 
Outstanding and Exercisable December 31, 2014
   
-
   
$
-
 
                 
Granted
   
203,253
   
$
5.29
 
Exercised
   
-
   
$
-
 
Canceled
   
-
   
$
-
 
Outstanding and Exercisable September 30, 2015
   
203,253
   
$
5.29