Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2013

A summary of stock option activity under the Option Plan for the three months ended March 31, 2013 is presented below:


	Shares Under Option	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value

Outstanding at January 1, 2013	1,501,500	$ 0.95
Granted	-	$ -
Exercised	-	$ -
Forfeited	(61,000)	$ 0.80

Outstanding at March 31, 2013	1,440,500	$ 0.95	6.7 years	$ 43

Exercisable at March 31, 2013	874,497	$ 1.09	5.8 years	$ 32

A summary of status of the Company’s non-vested share awards as of and for the three months ended March 31, 2013 is presented below:


	Nonvested Shares Under Option	Weighted Average Grant Date Fair Value

Non-vested at January 1, 2013	690,877	$ 0.69
Granted	-	$ -
Vested	(87,374)	$ 0.69
Forfeited	(37,500)	$ 0.67

Non-vested at March 31, 2013	566,003	$ 0.69