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SHARE BASED COMPENSATION
 9 Months Ended
Sep. 30, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

6. SHARE BASED COMPENSATION

 

The Company accounts for the issuance of equity awards to employees in accordance with ASC Topic 718 and 505, which requires that the cost resulting from all share based payment transactions be recognized in the financial statements. These pronouncements establish fair value as the measurement objective in accounting for share based payment arrangements and requires all companies to apply a fair value based measurement method in accounting for all share based payment transactions with employees.

 

Stock-based compensation expense for the three and nine months ended September 30, 2012 and 2011 is as follows:

 

  Three Months Ended  Nine months ended 
  September 30,  September 30, 
  2012  2011  2012  2011 
Compensation cost recognized:                
Stock options $5,986  $19,582  $47,262  $(17,899)
Restricted stock  -   -   -   29,896 
  $5,986  $19,582  $47,262  $11,997 

 

 

Stock-based compensation included in operating expenses is as follows:

 

  Three Months Ended  Nine months ended 
  September 30,  September 30, 
  2012  2011  2012  2011 
             
Selling $748  $4,155  $8,468  $(34,327)
General and administrative  1,563   9,476   15,225   58,384 
Research & development  3,675   5,951   23,569   (12,060)
  $5,986  $19,582  $47,262  $11,997