v2.4.0.6

Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Stock Based Compensation [Abstract]

Stock option activity

The following table summarizes stock option activity for the nine months ended September 30, 2012:

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life in Years				Aggregate Intrinsic Value
Options outstanding at December 31, 2011			891,751			$	5.15
Granted			932,384				3.63
Exercised			-				-
Forfeited			(78,525	)			3.03
Cancelled			(55,251	)			18.93
Options outstanding at September 30, 2012			1,690,359				3.96				8.11			$	1,600,309
Vested and expected to vest at September 30, 2012			1,558,961				4.00				7.97			$	1,464,563
Exercisable at September 30, 2012			310,000				5.72				1.51			$	156,712
Non vested			1,380,359
Weighted average remaining recognition period (in years)			3.65

Fair value and assumptions used in determining fair value of stock options

The Company calculates the fair value of stock options based upon the Black-Scholes-Merton valuation model. The following table summarizes the fair value and assumptions used in determining the fair value of stock options issued during the nine months ended September 30, 2012.

Volatility			1.2	%
Risk-free interest rate			0.6	%
Dividend yield			0.0	%
Expected option term (in years)			6.25

RSU activity

No RS was issued or outstanding during the nine months ended September 30, 2012. A summary of RSU activity for the nine months ended September 30, 2012 is as follows:

						Weighted
		Number of				Average
		RSU's				Grant Price
Outstanding at December 31, 2011			487,025			$	6.37
Granted			61,011				3.44
Released			(43,819	)			5.98
Forfeited			(8,559	)			5.78
Outstanding at September 30, 2012			495,658			$	5.11
Expected to Vest			351,013			$	5.68

X

- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(2)

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- Definition

Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

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- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (f)(2)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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