RESTRUCTURING COSTS AND OTHER CORPORATE CHANGES |
12 Months Ended | |
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Dec. 31, 2015 | ||
| Restructuring and Related Activities [Abstract] | ||
| Restructuring and Related Activities Disclosure [Text Block] |
16. RESTRUCTURING COSTS AND OTHER CORPORATE CHANGES
On June 15, 2015, the Company appointed a new President and Chief Executive Officer, who was also named to the Company’s Board as a Class II director. The former President, Chief Executive Officer and Class II director retired from each of those positions. In addition, during third quarter 2015 the Company eliminated certain personnel positions, which resulted in restructuring charges of approximately $204,000 being recorded in the twelve months ended December 31, 2015.
Restructuring costs in 2014 related primarily to the restructuring of the Company’s management and was composed of approximately $208,000 for severance and stock-based compensation. |
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- References No definition available.
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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