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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of share-based compensation expense
Stock compensation expense recorded as a component of equity consisted of the following for the years ended December 31:
 
 
2012
 
2011
 
2010
 
 
 
 
 
 
 
Share-based compensation - employees
 
$
555,898

 
$
627,353

 
$
688,408

Share-based compensation - nonemployees
 
76,920

 
128,158

 
98,241

Total share-based compensation
 
$
632,818

 
$
755,511

 
$
786,649

Schedule of stock options activity
Stock option activity for 2012 and 2011 was as follows:
 
 
Number of
shares
 
Weighted-
average
exercise
price per
share
 
Weighted-
average
remaining
contractual
term (years)
 
Aggregate
intrinsic
value
 
 
 
 
 
 
 
 
 
Outstanding, December 31, 2010
 
1,905,470

 
$
6.45

 
3.3
 
$
2,853,707

Options granted
 

 

 
 
 
 
Options exercised
 
(503,411
)
 
2.19

 
 
 
 
Options forfeited or expired
 
(125,901
)
 
10.24

 
 
 
 
Outstanding, December 31, 2011
 
1,276,158

 
7.75

 
2.9
 
700,294

Options granted
 

 

 
 
 
 
Options exercised
 
(173,688
)
 
3.55

 
 
 
 
Options forfeited or expired
 
(435,599
)
 
12.22

 
 
 
 
Outstanding, December 31, 2012
 
666,871

 
5.93

 
1.4
 
$
132,348

Exercisable at December 31, 2012
 
660,023

 
$
5.88

 
1.4
 
$
132,348

Schedule of stock options activity, additional disclosures
Information related to the stock option plans during 2012, 2011 and 2010 was as follows:
 
 
2012
 
2011
 
2010
 
 
 
 
 
 
 
Intrinsic value of options exercised
 
$
495,480

 
$
1,742,103

 
$
5,519,588

Weighted-average fair value of
options exercised
 
$
1.00

 
$
2.06

 
$
4.13

Schedule of stock options valuation assumptions
The fair value of employee and nonemployee options granted during 2010 was estimated using the Black-Scholes option-pricing model and consisted of the following assumptions:
 
 
Range of Assumptions
 
 
Employee
Options
 
Non-Employee Options
 
 
 
 
 
Dividend yield
 
 
Expected term (years)
 
2.5 – 6.0
 
5.0
Expected volatility
 
49% – 53%
 
52% – 53%
Risk-free interest rate
 
0.8% – 2.8%
 
2.2% – 2.4%
Schedule of restricted stock activity
Restricted stock activity was as follows:
 
 
Number
of shares
 
Weighted-
average
grant-date
fair value
 
 
 
 
 
Nonvested, December 31, 2010
 

 
$

Shares granted
 
149,320

 
5.40

Shares vested
 
(1,000
)
 
5.28

Shares forfeited
 
(12,150
)
 
5.28

Nonvested, December 31, 2011
 
136,170

 
5.41

Shares granted
 
286,453

 
4.87

Shares vested
 
(7,000
)
 
5.28

Shares forfeited
 
(32,093
)
 
5.68

Nonvested, December 31, 2012
 
383,530

 
4.99