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STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2013
STOCKHOLDERS' EQUITY  
STOCKHOLDERS' EQUITY

NOTE 11 - STOCKHOLDERS' EQUITY

 

Preferred and Common Stock

 

The total number of authorized shares is 95,000,000 shares of common stock and 5,000,000 shares of preferred stock. The preferred stock may be issued in series with such designations, preferences, stated values, rights, qualifications or limitations as determined solely by the Company’s board of directors.

 

Warrants

 

As of March 31, 2013, the Company had warrants outstanding and exercisable to purchase an aggregate of 150,000 shares of the Company's common stock at exercise prices ranging from $3.00 to $3.80 per share, which expire May 16, 2013. At March 31, 2013, the warrants had a weighted-average exercise price of $3.40 per share, a weighted-average remaining contractual life of 0.2 years and a total intrinsic value of $0.

 

Stock and Stock Options

 

2010 Incentive Plan

 

On November 12, 2010, the Company’s Board of Directors adopted, and on December 22, 2010 its stockholders approved, the 2010 Long-Term Incentive Plan  (the “2010 Incentive Plan”), which gave the Company the ability to grant stock options, restricted stock, stock appreciation rights and performance units to its employees, directors and consultants, or those who will become employees, directors and consultants of the Company and/or its subsidiaries. The 2010 Incentive Plan currently allows for equity awards of up to 4,000,000 shares of common stock. Through March 31, 2013, 75,000 shares of common stock and options to purchase an aggregate of 25,000 shares of stock options had been granted under the 2010 Incentive Plan.

 

There were no securities issued from the 2010 Incentive Plan during the three months ended March 31, 2013.

 

At March 31, 2013, there was no remaining unrecognized compensation expense related to stock options or restrictive stock grants.