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Note 5. Stock Options
 6 Months Ended
Jun. 30, 2013
Notes to Financial Statements  
Stock Options

Increase in number of shares authorized under the 2010 Equity Incentive Plan (the “Plan”)

 

On January 20, 2012, the Company’s Board of Directors approved an increase in the number of shares authorized under the Plan from 220,416 to 420,416.

 

Employee Stock Options

 

The following table summarizes information about stock options outstanding and exercisable at June 30, 2013: 

      Options Outstanding     Options Exercisable  
Exercise Price Range     Number     Weighted Average Remaining Contractual Life (in Years)     Weighted Average Exercise Price     Number  
$ 0.01 - $1.00       28,700       8.85     $ 0.01       28,700  
$ 1.01 - $2.00       18,000       7.90     $ 1.73       18,000  
$ 2.01 - $3.00       132,966       6.49     $ 2.42       87,966  
$ 3.01 - $4.00       25,500       8.76     $ 3.33       25,500  
Total       205,166       7.20     $ 2.11       160,166  

Total unrecognized compensation expense as of  June 30, 2013 was 103,142.