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Note P - Stock Options
 12 Months Ended
Dec. 31, 2011
Notes To Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE P—STOCK OPTIONS

1996 Stock Option Plan

During 1996, the Board of Directors and stockholders of the Company adopted the 1996 Stock Option Plan (the 1996 Plan). Under the 1996 Plan, 750,000 shares of common stock are reserved for issuance to employees, officers, directors, and consultants of the Company at exercise prices which may not be below 100% of fair market value for incentive stock options and 50% for all others. The term of stock options granted may not exceed ten years. Options issued under the Plan vest pursuant to the terms of stock option agreements with the recipients. In the event of a change in control, as defined, all options outstanding vest immediately. The Plan expired in May 2005.

1999 Stock Option Plan

During 1999, the Board of Directors of the Company adopted the 1999 Stock Option Plan (the 1999 Plan). The 1999 Plan was not presented to stockholders for approval and thus incentive stock options are not available under the plan. Under the 1999 Plan, 2,000,000 shares of common stock are reserved for issuance to employees, officers, directors, and consultants of the Company at exercise prices which may not be below 85% of fair market value. The term of nonstatutory stock options granted may not exceed ten years. Options issued under the Plan vest pursuant to the terms of stock option agreements with the recipients. In the event of a change in control, as defined, all options outstanding vest immediately. The 1999 Plan expired in August 2009.

2004 Stock Option Plan

On October 12, 2004, the Board of Directors of the Company approved the 2004 Stock Option Plan (the 2004 Plan). The 2004 Plan has not yet been presented to stockholders for approval and thus incentive stock options are not available under this plan. Under the terms of this plan, 4,000,000 shares of common stock are reserved for issuance to employees, officers, directors, and consultants of the Company at exercise prices which may not be below 85% of fair market value. The term of stock options granted may not exceed ten years. Options issued under the Plan vest pursuant to the terms of stock option agreements with the recipients. In the event of a change in control, as defined, all options outstanding vest immediately. The Plan expires in October 2014.

Non-Plan Stock Options

Periodically, the Company has granted options outside of the 1996, 1999, and 2004 Plans to various employees and consultants. In the event of change in control, as defined, certain of the non-plan options outstanding vest immediately.

Stock Option Activity

Information summarizing option activity is as follows:
   
Number of Options
   
Weighted
average
exercise
 
Weighted
average
remaining
life
Aggregate
intrinsic
   
1996 Plan
   
1999 Plan
   
2004 Plan
   
Non Plan
   
Total
   
price
 
(in years)
value
                                         
Outstanding, as of December 31, 2009
    45,000       500,000       2,073,189       1,329,841       3,948,030     $ 0.24      
                                                     
Granted
    —       —       510,000       —       510,000       0.40      
Exercised
    —       —       —       —       —       —      
Forfeited
    —       —       —       —       —       —      
Expired
    (45,000 )     —       (2,500 )     —       (47,500 )     0.48      
Outstanding, as of December 31, 2010
    —       500,000       2,580,689       1,329,841       4,410,530     $ 0.25      
                                                     
Granted
    —       —       845,000       —       845,000       0.14      
Exercised
    —       —       —       —       —       —      
Forfeited
    —       —       (210,000 )     —       (210,000 )     0.14      
Expired
    —       —       (383,853 )     (257,265 )     (641,118 )     0.36      
Outstanding, as of December 31, 2011
    —       500,000       2,831,836       1,072,576       4,404,412       0.22  
3.71
$0
Vested or expected to vest at December 31, 2011
                                    4,153,866       0.23  
3.54
$0
Exercisable at December 31, 2011
                                    3,492,744       0.22  
3.05
$0
The options outstanding and exercisable at December 31, 2011 were in the following exercise price ranges:

   
Options Outstanding
   
Options Exercisable
 
Range of exercise prices
 
Number of
shares
   
Weighted
average
exercise
price
   
Weighted
average
remaining 
life (in years)
   
Number
exercisable
   
Weighted
average
exercise
price
 
$  0.07-0.21
    2,267,272     $ 0.12       4.71       1,560,604     $ 0.11  
0.22-0.40
    1,797,140       0.30       2.32       1,762,140       0.30  
0.41-0.68
    340,000       0.46       5.02       170,000       0.46  
$  0.07-0.68
    4,404,412                       3,492,744          

The aggregate intrinsic value in the table above represents the total intrinsic value, based on the Company’s closing stock price of $0.07 as of December 31, 2011, which would have been received by the option holders had all option holders exercised their options as of that date. The total number of in-the-money options exercisable as of December 31, 2011 was 0.

The weighted average fair value of options granted during the years ended December 31, 2011 and 2010 was $0.11 and $0.19 per share, respectively. The total intrinsic value of options exercised during the years ended December 31, 2011 and 2010 was $0. The total fair value of shares vested during the years ended December 31, 2011 and 2010 was $52,879 and $48,026 respectively.

As of December 31, 2011 future compensation cost related to nonvested stock options is $62,584 and will be recognized over an estimated weighted average period of 1.65 years.