Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE BENEFIT PLANS

v3.2.0.727
EMPLOYEE BENEFIT PLANS
 6 Months Ended
Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]  
Pension and Other Postretirement Benefits Disclosure [Text Block]
10.
Employee Benefit PlanS
 
The Company has a qualified 401(k) plan covering all U.S. employees who have completed three months of service. The plan provides for matching contributions by the Company equal to 100% of the first 3% of the qualified compensation, plus 50% of the next 2%. Employer contributions to the plan for six months ended June 30, 2015 and 2014 were $48,360 and $27,049, respectively, and $24,798 and $11,969 for the three months ended June 30, 2015 and 2014, respectively.
 
Additionally, the Company has a defined contribution retirement plan covering all employees located in Pakistan who have completed 90 days of service. The plan provides for monthly contributions by the Company which are the lower of 10% of qualified employees’ basic monthly compensation or 750 Pakistani rupees. The Company’s contributions for six months ended June 30, 2015 and 2014 were $56,919 and $43,061, respectively, and $29,214 and $22,788 for the three months ended June 30, 2015 and 2014, respectively.