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SHAREHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2012
SHAREHOLDERS' EQUITY  
SHAREHOLDERS' EQUITY

7.                                      SHAREHOLDERS’ EQUITY

 

The following table details the changes in shareholders equity for the quarter ended March 31, 2012:

 

 

 

Common Stock

 

Paid-In

 

Accumulated

 

 

 

 

 

Shares

 

Amount

 

Capital

 

Deficit

 

Treasury Stock

 

Balances, December 31, 2011

 

94,005,006

 

$

94,043

 

$

169,904,203

 

$

(146,577,535

)

$

(9,418

)

Net loss

 

—

 

—

 

—

 

(3,606,470

)

—

 

Stock compensation expense

 

—

 

—

 

192,818

 

—

 

—

 

Common stock issuance

 

12,074,640

 

12,074

 

11,478,679

 

—

 

—

 

Common stock issued for option exercise

 

—

 

—

 

—

 

—

 

—

 

Restricted stock forfeiture

 

(16,667

)

(16

)

16

 

—

 

—

 

Balances, March 31, 2012

 

106,062,979

 

$

106,101

 

$

181,575,716

 

$

(150,184,005

)

$

(9,418

)

 

See Note 5 — Stock Based Compensation, for further discussion of stock compensation expense and restricted stock issuance.