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7 - SHARE BASED COMPENSATION
 12 Months Ended
Dec. 31, 2011
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
7  -  SHARE BASED COMPENSATION

Our 2005 Stock Incentive Plan (the “Plan”) authorizes the issuance of up to 1,000,000 shares pursuant to options or awards granted under the plan.  Under the Plan, incentive stock and nonstatutory options were granted at prices equal to at least the fair market value of our Class A common stock at the date of grant.  Outstanding options vest in three equal annual installments beginning one year from the date of grant and are subject to termination provisions as defined in the Plan.  The fair value of options using the Black-Scholes option-pricing model with the following weighted average assumptions was as follows for 2011 and 2010: dividend yield of 2%; expected volatility of 33%; a risk free interest rate of approximately 4.4% and an expected holding period of five years.

Stock option activity during the periods indicated is as follows:

   
Number of Shares
   
Weighted Average
Exercise Price
   
Weighted Average
Years Remaining
Contractual Term
   
Aggregate
Intrinsic Value
 
                         
Outstanding at December 31, 2009
    395,500     $ 1.75       4.3     $ 19,000  
  Granted
    3,000       1.19       9.2          
  Forfeited
    (32,000 )     3.19                  
Outstanding at December 31, 2010
    366,500       1.62       3.4     $ 69,000  
Granted
    129,000       1.27       9.2          
Forfeited
    (68,000 )     1.77                  
Outstanding at December 31, 2011
    427,500     $ 1.49       4.4     $ 18,300  
Exercisable at December 31, 2011
    289,166     $ 1.62       2.9     $ 14,300  

At December 31, 2011, the range of individual weighted average exercise prices was $1.03 to $1.73.