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Stock-based Compensation
 6 Months Ended
Jun. 30, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Note 4 – Stock-based Compensation

 

At June 30, 2012 the Company maintained seven stock-based compensation plans. Six of these plans are described more fully in Note 14 to the audited consolidated financial statements for the year ended December 31, 2011, contained in the Company’s most recently filed Annual Report on Form 10-K. A new plan, the Heritage Global Partners Plan (the “HGP Plan”), was set up to facilitate the issuance of options as part of the acquisition of Heritage Global Partners. It is similar to the Company’s 2003 Stock Option and Appreciation Rights Plan, except that options issued under the HGP Plan survive termination of employment.

  

During the second quarter of 2012, the Company made the following option grants:

 

                    Black-Scholes Option Pricing Inputs   
Grant
date		   Number
of
options		     Recipient     Fair
value		     Exercise
price		     Volatility     Interest
rate		     Expected
term		     Expected
dividend
yield		  
                                                 
February 13, 2012 1     100,000       Employee     $ 1.4600     $ 2.40       133 %     1.25 %     4.75 years       Zero  
                                                                 
April 2, 2012     50,000       Independent directors     $ 1.7261     $ 2.00       135 %     1.47 %     4.75 years       Zero  

 

1 The terms of the grant were finalized in the second quarter, effective as of the employment date.

 

During the first quarter of 2012, as detailed in the Company’s Report on Form 10-Q for the quarter ended March 31, 2012, as filed with the SEC, the Company issued a total of 890,000 options to officers and employees. This included the 625,000 options that were granted to the former owners of Heritage Global Partners, as part of the Company’s acquisition of Heritage Global Partners.

 

The following summarizes the changes in common stock options for the six months ended June 30, 2012:

 

    Options     Weighted
Average
Exercise
Price		  
Outstanding at December 31, 2011     3,141,198     $ 1.65  
Granted     1,040,000     $ 2.04  
Exercised     (21,750 )   $ 0.63  
Forfeited     (250,000 )   $ 1.83  
Expired     (1,250 )   $ 1.40  
Outstanding at June 30, 2012     3,908,198     $ 1.75  
                 
Options exercisable at June 30, 2012     1,283,198     $ 1.37