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7. STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2012
Stock-Based Compensation Tables  
STOCK-BASED COMPENSATION

The following summarizes all of our option and warrant transactions for the nine months ended September 30, 2012:

 

Outstanding Options and Warrants         Weighted Average Exercise price Per     Weighted Average Remaining
Contractual Life
    Aggregate
Intrinsic
 
Under the 2006 Plan and 2000 Plan   Shares     Common Share     (in years)     Value  
                         
Balance, December 31, 2011     6,656,250     $ 3.62                  
Granted                            
Exercised                            
Canceled or expired     (425,000 )     4.19                  
Balance, September 30, 2012     6,231,250       3.58       2.13     $ 1,329,575  
Exercisable at September 30, 2012     5,250,750       3.64       1.95       1,171,692  

 

Non-Plan         Weighted Average Exercise price Per     Weighted Average Remaining
Contractual Life
    Aggregate
Intrinsic
 
Outstanding Warrants   Shares     Common Share     (in years)     Value  
Balance, December 31, 2011     2,502,898     $ 2.58                  
Granted                            
Exercised     (250,000 )     2.52                  
Canceled or expired     (750,000 )     4.77                  
Balance, September 30, 2012     1,502,898       1.50       0.90     $ 1,979,011  
Exercisable at September 30, 2012     1,502,898       1.50       0.90       1,979,011