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8 - SHARE BASED COMPENSATION
9 Months Ended
Sep. 30, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
8 – SHARE BASED COMPENSATION

Accounting for stock options issued to employees measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award.  That cost is recognized over the period during which an employee is required to provide service in exchange for the award.  Outstanding options to purchase Class A common stock (“the Options”) vest in three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan.  We use the Black-Scholes option pricing model to measure the fair value of the Options granted to employees.  The option activity during the nine months ended September 30, 2011 is as follows:

   
Number of Shares
   
Weighted Average Exercise Price
   
Weighted Average Years Remaining Contractual Term
   
Aggregate Intrinsic Value
 
                         
Outstanding at December 31, 2010
    366,500     $ 1.62       3.4     $ 69,000  
Additions
    129,000                          
Terminations
    (68,000 )                        
Outstanding at September 30, 2011
    427,500     $ 1.49       4.6       2,000  
Exercisable at September 30, 2011
    289,166     $ 1.62       3.1       1,400  

At September 30, 2011, the range of individual outstanding weighted average exercise prices was $1.03 to $1.73.