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STOCK-BASED COMPENSATION PLAN (Tables)
6 Months Ended
Jun. 30, 2013
Activity for Warrants to Certain Investor Relations IR Firms
The following table summarizes activity for the warrants to certain investor relations IR firms:
 
 
 
Number of 
Shares
 
Average 
Exercise 
Price per Share
 
Weighted 
Average 
Remaining 
 Contractual 
Term in Years
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at January 1, 2013
 
 
50,000
 
$
1.50
 
 
1.75
 
Exercisable at January 1, 2013
 
 
50,000
 
$
1.50
 
 
1.75
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
Outstanding at June 30, 2013
 
 
50,000
 
$
1.50
 
 
1.25
 
Exercisable at June 30, 2013
 
 
50,000
 
$
1.50
 
 
1.25
 
Employee Stock Option [Member]
 
Summary of Option Activity
The following table summarizes activity for employees in the Company’s Plan:
 
 
 
Number of 
Shares
 
Average 
Exercise 
Price per Share
 
Weighted 
Average 
Remaining 
Contractual 
Term in Years
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at January 1, 2013
 
 
3,733,333
 
$
1.36
 
 
1.09
 
Exercisable at January 1, 2013
 
 
3,733,333
 
$
1.36
 
 
1.09
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
Outstanding at June 30, 2013
 
 
3,733,333
 
$
1.36
 
 
0.59
 
Exercisable at June 30, 2013
 
 
3,733,333
 
$
1.36
 
 
0.59
Independent Directors Compensation Plan [Member]
 
Summary of Option Activity
The following table summarizes option activity with respect to the independent directors:
 
 
 
Number of 
Shares
 
Average 
Exercise 
Price per Share
 
Weighted 
Average 
Remaining 
Contractual 
Term in Years
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding at January 1, 2013
 
 
210,000
 
$
2.60
 
 
2.05
 
Exercisable at January 1, 2013
 
 
210,000
 
$
2.60
 
 
2.05
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
Outstanding at June 30, 2013
 
 
210,000
 
$
2.60
 
 
1.55
 
Exercisable at June 30, 2013
 
 
210,000
 
$
2.60
 
 
1.55