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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2012
STOCK-BASED COMPENSATION [Abstract]  
Weighted-average assumptions used for options granted
The estimated fair value of each option award granted was determined on the date of grant using the Black-Scholes option valuation model.  The following weighted-average assumptions were used for the options granted during the three and six months ended June 30, 2012 and 2011:
 
   
2012
  
2011
 
Risk-free interest rate
  0.9%  2.1%
          
Expected volatility
  102%  101%
          
Dividend yield
  0%  0%
Expected option term
 
5 years
  
5 years
 
Stock option activity
A summary of the status of the Company's stock option plans as of June 30, 2012 and changes during the six months ended June 30, 2012 is as follows:

  
Options
  
Weighted average
Exercise Price
 
Weighted average remaining
contractual term (in years)
 
Aggregate Intrinsic Value
 
Outstanding at beginning of period
  695,000  $6.68       
Granted
  40,517   11.87       
Exercised
  (205,000)  6.65       
               
Outstanding and vested at end of period
  530,517  $9.25 
3.13
 $1,285,746