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7. Capital Transactions:
 9 Months Ended
Sep. 30, 2012
Notes to Financial Statements  
7. Capital Transactions:
  On January 22, 2008, the Board of Directors of the Company authorized a buy back of up to 300,000 shares of common stock. Shares will be purchased from time to time, at management’s discretion, in the open market and in private transactions. During the nine months ended September 30, 2012, the Company purchased 7,277 shares at an average price of $1.67.
   
  A summary of the Company’s stock option transactions for the nine months ended September 30, 2012 is presented below:

 

               
       
    Shares   Weighted
Average
Exercise
Price		  
           
Outstanding – January 1, 2012     1,228,200   $ 3.88  
               
Expired     (750,000 ) $ 4.30  
               
               
Outstanding – September 30, 2012 (a)     478,200   $ 3.21  
               

 

   
  (a) Shares are fully vested and exercisable.
   
  As of September 30, 2012, there was no unrecognized compensation cost.