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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2013
Stock-Based Compensation [Abstract]  
Fair value of the options granted, determined, using weighted-average assumption

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Three months ended

 

Nine months ended

 

Nine months ended

 

 

September 30, 2013

 

September 30, 2012

 

September 30, 2013

 

September 30, 2012

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

2.00%

 

1.16%

 

1.71%

 

1.16%

Expected term (years)

 

7

 

7

 

7

 

7

Expected stock price volatility

 

80.23%

 

76.42%

 

80.05%

 

76.42%

Dividend yield

 

0%

 

0%

 

0%

 

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

70,000 

 

 

1.44 

 

 

 

 

 

Exercised

-  

 

 

 -

 

 

 

 

 

Expired

-  

 

 

 -

 

 

 

 

 

Cancelled or Forfeited

(27,480)

 

 

19.60 

 

 

 

 

 

Outstanding at end of period

277,216 

 

$

2.05 

 

9.2 

 

$

-  

 

 

 

 

 

 

 

 

 

 

Expected to vest

257,210 

 

$

1.34 

 

9.3 

 

$

-  

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

20,006 

 

$

11.16 

 

7.0 

 

$

-  

 

Information related to the Plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

2013

 

2012

 

2013

 

2012

 

 

 

 

 

 

 

 

 

 

Weighted average fair value of options granted

$

1.02

 

0.94

 

$

1.05

 

0.94

 

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

(400)

 

 

5.00 

Forfeited

(1,000)

 

 

7.25 

Nonvested at September 30, 2013

 -

 

$

 -