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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2013
Stock-Based Compensation [Abstract]  
Fair value of the options granted, determined, using weighted-average assumption

 

 

 

 

 

Three months ended

 

March 31, 2013

 

 

Risk-free interest rate

1.32%

Expected term (years)

7

Expected stock price volatility

80%

Dividend yield

0%

 

Summary of stock option activity in the Plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (Years)

 

Intrinsic Value

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of year

234,696 

 

$

4.29 

 

 

 

 

 

Granted

30,000 

 

 

1.50 

 

 

 

 

 

Exercised

-  

 

 

 -

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

Cancelled or Forfeited

(5,620)

 

 

24.95 

 

 

 

 

 

Outstanding at end of year

259,076 

 

$

3.52 

 

9.3 

 

$

-  

 

 

 

 

 

 

 

 

 

 

Expected to vest

237,880 

 

$

1.34 

 

9.7 

 

$

-  

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

21,196 

 

$

27.98 

 

4.8 

 

$

-  

 

Information related to the Plans

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

2013

 

2012

 

 

 

 

 

Weighted average fair value of options granted

$

1.08

 

n/a

 

Summary of changes in the Company's nonvested restricted shares

 

 

 

 

 

 

 

 

 

 

Nonvested Shares

Shares

 

Weighted Average Grant-Date Fair Value

 

 

 

 

 

Nonvested at January 1, 2013

1,400 

 

$

6.61 

Granted

                 -  

 

 

 -

Vested

                 -  

 

 

 -

Forfeited

(1,000)

 

 

7.25 

Nonvested at March  31, 2013

400 

 

$

5.00