Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY

v3.7.0.1
STOCKHOLDERS' EQUITY
6 Months Ended
Jun. 30, 2017
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
NOTE 5 – STOCKHOLDERS’ EQUITY
 
Common Stock Issued in Option Exercise
 
During the six months ended June 30, 2016, the Company issued 25,000 shares of common stock as the result of option exercises. The options exercised had an exercise price of $4.50 per share. The Company received an aggregate amount of $112,500 as a result of the option exercises.
 
Also during the six months ended June 30, 2016, the Company issued 119 shares of common stock as the result of the cashless exercise of the 150 options with an exercise price of $2.00 per share. The Company withheld 31 shares, valued at $300 or $9.72 per share.
 
During the six months ended June 30, 2017, the Company issued 55,180 shares of common stock as the result of option exercises. The following table presents the details of those exercises:
 
 
 
 
 
 
 
 
 
 
 
 
Stock price on
 
 
 
 
 
Options
 
Exercise
 
Shares
 
Shares
 
date of exercise
 
Aggregate value of
 
 
 
exercised
 
price ($)
 
issued
 
retained
 
($)
 
shares retained ($)
 
 
 
 
4,100
 
 
2.00
 
 
3,491
 
 
609
 
 
13.47
 
 
8,200.00
 
 
 
 
60,000
 
 
2.00
 
 
50,156
 
 
9,844
 
 
12.19
 
 
120,000.00
 
 
 
 
200
 
 
8.00
 
 
116
 
 
84
 
 
13.75
 
 
1,600.00
 
 
 
 
1,500
 
 
10.89
 
 
1,188
 
 
312
 
 
13.75
 
 
16,335.00
 
 
 
 
600
 
 
5.25
 
 
229
 
 
371
 
 
13.75
 
 
3,150.00
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Totals
 
 
66,400
 
 
 
 
 
55,180
 
 
11,220
 
 
 
 
 
149,285.00
 
Average
 
 
 
 
 
2.25
 
 
 
 
 
 
 
 
13.31