EMPLOYEE STOCK OPTIONS AND RESTRICTED STOCK AWARD PLAN (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] |
Employee Stock Options Following is a table reflecting the issuances during 2014, 2015 and 2016 and their related exercise prices:
| Grant date | | # of options | | Exercise price | | | April 11, 2014 | | | 5,000 | | $ | 16.99 | | | September 25, 2014 | | | 23,000 | | | 14.54 | | | October 13, 2014 | | | 2,500 | | | 13.12 | | | November 18, 2014 | | | 45,000 | | | 12.79 | | | December 1, 2014 | | | 293,000 | | | 8.00 | | | | | | | | | | | | April 1, 2015 | | | 3,750 | | $ | 10.89 | | | December 9, 2015 | | | 291,000 | | | 8.25 | | | | | | | | | | | | January 13, 2016 (1) | | | 241,000 | | $ | 5.25 | | | May 3, 2016 | | | 15,000 | | | 6.42 | | | December 13, 2016 | | | 582,500 | | | 11.75 | | | | | | 1,501,750 | | | | |
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| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
All granted options vest at the rate of 20% each year over five years beginning one year from the date granted and expire ten years from the grant date. A summary of the status of the stock options as of December 31, 2016, 2015 and 2014 and changes during the years ended December 31, 2016, 2015 and 2014 is as follows: | | | 2016 | | 2015 | | 2014 | | | | | | | Weighted- | | | | Weighted- | | | | Weighted- | | | | | | | Average | | | | Average | | | | Average | | | | | Options | | Exercise Price | | Options | | Exercise Price | | Options | | Exercise Price | | | Outstanding at beginning of the year | | | 2,881,150 | | $ | 5.07 | | | 2,684,500 | | $ | 4.67 | | | 2,647,500 | | $ | 4.01 | | | Issued | | | 838,500 | | | 9.79 | | | 294,750 | | | 8.28 | | | 368,500 | | | 9.15 | | | Forfeited or rescinded | | | (331,400) | | | 8.62 | | | (32,500) | | | 4.47 | | | (177,500) | | | 5.62 | | | Exercised | | | (25,900) | | | 4.41 | | | (65,600) | | | 3.46 | | | (154,000) | | | 2.90 | | | | | | | | | | | | | | | | | | | | | | | | Outstanding at end of year | | | 3,362,350 | | $ | 5.90 | | | 2,881,150 | | $ | 5.07 | | | 2,684,500 | | $ | 4.67 | | | | | | | | | | | | | | | | | | | | | | | | Exercisable at end of year | | | 1,722,850 | | $ | 4.01 | | | 1,214,000 | | $ | 3.85 | | | 728,000 | | $ | 3.22 | | | | | | | | | | | | | | | | | | | | | | | | Weighted average fair value of options granted during the year | | | | | $ | 9.72 | | | | | $ | 6.55 | | | | | $ | 7.55 | |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
The following are the Black-Scholes weighted-average assumptions used for options granted during the periods ended December 31, 2015, 2014 and 2013: | | | Risk free interest rate | | Expected life (years) | | Dividend yield | | Volatility | | | | | | | | | | | | | | | | | | April 11, 2014 | | | 1.58 | % | | 6.5 | | | - | | | 114 | % | | September 25, 2014 | | | 1.75 | % | | 6.5 | | | - | | | 108 | % | | October 13, 2014 | | | 1.45 | % | | 6.5 | | | - | | | 107 | % | | November 18, 2014 | | | 1.66 | % | | 6.5 | | | - | | | 106 | % | | December 1, 2014 | | | 1.52 | % | | 6.5 | | | - | | | 108 | % | | | | | | | | | | | | | | | | | April 1, 2015 | | | 1.32 | % | | 6.5 | | | - | | | 103 | % | | December 9, 2015 | | | 1.64 | % | | 6.5 | | | - | | | 100 | % | | | | | | | | | | | | | | | | | January 13, 2016 | | | 1.51 | % | | 6.5 | | | - | | | 100 | % | | May 3, 2016 | | | 1.25 | % | | 6.5 | | | - | | | 99 | % | | December 13, 2016 | | | 1.92 | % | | 6.5 | | | - | | | 96 | % |
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| Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] |
The following table summarizes information related to the Company’s stock options outstanding at December 31, 2016:
| | | Options Outstanding | | | | | | | | | Weighted-
Average | | | | | | | | | Remaining | | | | | | | Number | | Contractual Life | | Number | | | Exercise price | | Outstanding | | (in years) | | Exercisable | | | | 2.00 | | | 694,100 | | | 4.92 | | | 694,100 | | | | 4.50 | | | 1,340,000 | | | 5.99 | | | 810,000 | | | | 5.50 | | | 25,000 | | | 6.20 | | | 15,000 | | | | 7.50 | | | 29,000 | | | 6.48 | | | 17,000 | | | | 10.00 | | | 90,000 | | | 6.96 | | | 54,000 | | | | 14.54 | | | 20,000 | | | 7.73 | | | 8,000 | | | | 8.00 | | | 285,000 | | | 7.92 | | | 114,000 | | | | 10.89 | | | 3,750 | | | 8.25 | | | 750 | | | | 8.25 | | | 50,000 | | | 8.94 | | | 10,000 | | | | 5.25 | | | 228,000 | | | 9.03 | | | - | | | | 6.42 | | | 15,000 | | | 9.34 | | | - | | | | 11.75 | | | 582,500 | | | 9.95 | | | - | | | | | | | | | | | | | | | | | | | | 3,362,350 | | | 6.93 | | | 1,722,850 | |
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