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Stock-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]

Stock-Based Compensation

GAAP requires that all stock-based compensation be recognized as an expense in the financial statements and that such costs be measured at the fair value of the award.

No options were granted during the first nine months of 2011. On March 1, 2012, the Company granted options covering 30,000 shares to a consultant. These options vest ratably over the next 24 months and are marked to market quarterly using the Black Scholes method. During the nine and three months ended September 30, 2012, $9,888 and $997 were respectively charged to operations reflecting the fair value of the options.

During the first nine months ended September 30, 2012, the Company granted 363,200 shares of common stock to its directors and employees. All of the 96,500 shares granted to the directors, as well as 5,100 shares granted to employees, vested immediately upon grant. The remaining 261,600 shares issued to employees vest ratably over the 36 months following grant. The market value per share on the date of grant was $3.38. In connection with these grants, as well as prior grants that are not yet fully vested, the Company charged $741,279 and $631,535 to operations during the nine months ended September 30, 2012 and 2011and $132,645 and $94,940 during the three months ended September 30, 2012 and 2011.

The Company also granted 175,000 warrants at an exercise price of $6.00 to consultants during 2009. These warrants vest ratably over 59 months. These warrants are valued at fair value at the time that the related services are provided using the Black-Scholes method and marked to market quarterly using the Black Scholes method. The Company incurred a charge of $36,371 and $64,292 during the nine months ended September 30, 2012 and 2011, respectively and a charge of $72,176 and $9,560 during the three months ended September 30, 2012.

The fair value of options and warrants using the Black Scholes method were calculated using the following assumptions.

                      Risk free interest rate                                     0.3%
Option life 1-5 years
Volatility 51% - 53%

As of September 30, 2012, remaining unamortized compensation costs in connection with these grants and warrants was $1,045,759 which will be recognized over the next 27 month period.