Annual report pursuant to Section 13 and 15(d)

STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLAN (Tables)

STOCK-BASED COMPENSATION AND EMPLOYEE BENEFIT PLAN (Tables)

12 Months Ended

Dec. 31, 2015

Stock-based Compensation And Employee Benefit Plan Tables

Schedule of weighted average estimated fair value of stock option grants

The weighted average estimated fair value of stock option grants and the weighted average assumptions that were used in calculating such values for the years ended December 31, 2015 and 2014 are as follows:

	2015			2014

Risk-free interest rate		1.56-1.64	%		1.52-1.7	%
Expected volatility		42.69-45.79	%		42.11-45.8	%
Expected life (in years)		4			3-4
Dividend rate		0			0
Weighted-average estimated fair value per award	$	.32		$	.51

Schedule of stock option activity for the year

A summary of stock option activity for the year ended December 31, 2015 is presented as follows:

	Number Of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Weighted Average Grant Date Fair Value

Outstanding at January 1, 2015		2,027,400		$	.72		2.6 years	$	.23
Granted		75,000		$	.87			$	.32
Exercised		(55,500	)	$	.50			$	.05
Forfeited/expired/canceled		(1,011,900	)	$	.55			$	.07
Outstanding at December 31, 2015		1,035,000		$	.91		3.3 years	$	.40
Vested and exercisable at December 31, 2015		776,055		$	.91		.52 years	$	.30

A summary of stock option activity for the year ended December 31, 2014 is presented as follows:

	Number Of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Weighted Average Grant Date Fair Value

Outstanding at January 1, 2014		2,291,100		$	.57		2.1 years	$	.08
Granted		720,000		$	1.02			$	.51
Exercised		(796,700	)	$	.50				—
Forfeited/expired/canceled		(187,000	)	$	.50				—
Outstanding at December 31, 2014		2,027,400		$	.72		2.6 years	$	.23
Vested and exercisable at December 31, 2014		1,489,065		$	.64		1.9 years	$	.16