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Stock Option Plans
 3 Months Ended
Mar. 31, 2012
Stock Option Plans [Abstract]  
Stock Option Plans
Note 3:
Stock Option Plans
 
The Company established the 2004 Stock Incentive Plan and the 2009 Stock Incentive Plan (collectively, the "Plans") under which 3,000,000, and 4,200,000 shares, respectively, were reserved for the issuance of stock options, stock appreciation rights, restricted stock, stock grants and other equity awards. A stock option grant allows the holder of the option to purchase a share of the Company's common stock in the future at a stated price. The Plans are administered by the Compensation and Stock Option Committee of the board of directors which determines the individuals to whom awards shall be granted as well as the type, terms and conditions of each award, the option price and the duration of each award.
 
During 2004 and 2009, respectively, the 2004 and 2009 Stock Incentive Plans became effective. Options granted under the Plans vest as determined by the Company's Compensation and Stock Option Committee and expire over varying terms, but not more than ten years from the date of grant. Stock option activity for the three month period ended March 31, 2012 is as follows:

   
Stock Option Activity under the Plans
 
   
Stock Options
  
Exercise
Price per
Share
  
Weighted
Average
Exercise Price
  
Weighted
Average
Remaining
Life (Years)
 
Outstanding at December 31, 2011
  4,129,749  $1.23-$15.54  $ 5.09   6.38 
Granted
  941,030  $3.09-$4.60  $ 4.35     
Forfeited
  (22,468 ) $2.26-$6.42  $ 2.94     
Outstanding at March 31, 2012
  5,048,311  $1.23-$15.54  $ 4.96   6.82 

For the three months ended March 31, 2012, the Company recognized compensation expense of approximately $0.5 million relating to options granted in previous years and $0.2 million relating to options granted during 2012.
 
The Company uses an option pricing model to determine the fair value of stock options awarded to employees on the date of grant. The Company has expensed its stock-based compensation for share-based payments granted under the ratable method, which treats each vesting tranche as if it were an individual grant.
 
The Company accounts for stock-based compensation expense for non-employees using the fair-value method which requires the award to be re-measured at each reporting date until the award is vested. The Company estimates the fair value using an option pricing model. The Company has expensed its share-based compensation for non-employees under the ratable method.
 
The assumptions used in the option pricing model to determine the fair value of stock options awarded to employees are as follows:
 
   
Three Months Ended March 31,
 
   
2012
  
2011
 
Dividend yield
 
None
  
None
 
Expected volatility
  77.37% - 79.24%  73.90% - 74.70%
Weighted average volatility
  78.75%  74.26%
Risk-free interest rates
  1.03% - 1.49%  2.29% - 2.54%
Expected life (in years)
  6.0   6.0 

No dividend yield was assumed because the Company has never paid a cash dividend on its common stock. Volatilities were developed using the Company's historical volatility.  The risk-free interest rate was developed using the U.S. Treasury yield for periods equal to the expected life of the stock options on the grant date. The expected holding period was developed based on the mid-point between the vesting date and the expiration date of each respective grant as permitted under FASB ASC 718. This method of determining the expected holding period was utilized because the Company does not have sufficient historical experience from which to estimate the period.

Restricted stock activity for the three month period ended March 31, 2012 is as follows:

   
Restricted Stock Activity under the Plans
 
   
Restricted Stock
  
Exercise Price per Share
  
Weighted Average Exercise Price
 
Outstanding at December 31, 2011
  823,920  $1.26 - $12.34  $ 5.05 
Granted
  191,650  $3.09 - $4.60  $  4.42 
Forfeited
  (4,334 ) $2.26 - $6.42  $  2.58 
Outstanding at March 31, 2012
  1,011,236  $1.26 - $12.34  $ 4.93 
 
For the three months ended March 31, 2012, the Company recognized compensation expense of $0.2 million relating to restricted stock granted in previous years. For the three months ended March 31, 2012, the Company recognized approximately $50,000 relating to restricted stock granted during 2012.