XML 50 R23.htm IDEA: XBRL DOCUMENT v2.4.0.6
EQUITY (Tables)
6 Months Ended
Jun. 30, 2012
Equity [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
A summary of stock option activity for the six months ended June 30, 2012 is as follows:

 
 
Number 
of Options
(in shares)
 
Weighted
Average
Exercise
Price Per Share
 
Weighed Average Remaining Contractual Life
 
Aggregate Intrinsic Value
Outstanding at December 31, 2011
 
1,388,333

 
$
4.17

 
 
 
 
Granted
 
115,000

 
$
7.60

 
 
 
 
Exercised
 
(133,333
)
 
$
1.89

 
 
 
 
Forfeited or expired
 
(25,000
)
 
$
2.96

 
 
 
 
Outstanding at June 30, 2012
 
1,345,000

 
$
4.71

 
3.4 years
 
$
4,756

Exercisable at June 30, 2012
 
1,154,375

 
$
4.39

 
4.4 years
 
$
4,361

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The weighted average grant date fair value of the 115,000 stock options granted during the first six months of 2012 was $3.19 per share. The fair value of the options granted was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions:
        
Risk-free interest rate
 
1.4
%
Expected term of options, in years
 
6.5

Expected annual volatility
 
58
%
Expected dividend yield
 
2.0
%
Changes in outstanding warrants to purchase common stock [Table Text Block]
The Company previously issued warrants at exercise prices equal to or greater than market value of the Company’s common stock at the date of issuance.  A summary of warrant activity follows:
 
 
Number 
of Warrants
(in shares)
 
Weighted
Average
Exercise
Price Per Share
 
Weighed Average Remaining Contractual Life
Outstanding at December 31, 2011
 
313,806

 
$
4.29

 
 
Granted
 

 
 
 
 
Exercised
 
(269,808
)
 
$
4.39

 
 
Forfeited or expired
 
(15,248
)
 
$
3.68

 
 
Outstanding at June 30, 2012
 
28,750

 
$
3.68

 
3.5