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Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2013
Officer and Employee Plans [Member]
 
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]

A summary of the status of these stock option plans is presented in the following table:

 

                Weighted-      
                Average      
          Weighted     Contractual      
          Average     Remaining   Aggregate  
          Exercisable     Term   Intrinsic  
    Number     Price     (in years)   Value  
Outstanding at December 31, 2012     670,300     $ 3.86     6.2  Years   $ 232,900  
Granted     193,000       2.37     9.9  Years        
Exercised     -       -              
Forfeited     (57,475 )     (3.51 )            
Outstanding at March 31, 2013     805,825     $ 3.52     7.2  Years   $ 233,437  
Options exercisable at March 31, 2013     303,125     $ 6.17              
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The weighted average grant date fair value of stock options granted during the three months ended March 31, 2013 was $1.17. This was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

Dividend yield     0.0 %
Expected life     7.0 Years  
Expected volatility     47.60 %
Risk-free interest rate     1.23 %
Board Of Directors Plan [Member]
 
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block]

A summary of the status of this stock option plan is presented in the following table:

 

                Weighted-      
                Average      
          Weighted     Contractual      
          Average     Remaining   Aggregate  
          Exercisable     Term   Intrinsic  
    Number     Price     (in years)   Value  
Outstanding at December 31, 2012     145,250     $ 3.30     7.2 Years   $ 57,600  
Granted     45,000       2.37              
Exercised     -       -              
Forfeited     -       -              
Outstanding at March 31, 2013     190,250     $ 3.08     7.6 Years   $ 58,193  
Options exercisable at March 31, 2013     100,250     $ 4.04    
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

The weighted average grant date fair value of stock options granted during the three months ended March 31, 2013 was $1.17. This was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

Dividend yield     0.0 %
Expected life     7.0 Years  
Expected volatility     47.60 %
Risk-free interest rate     1.23 %