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STOCK-BASED COMPENSATION PLAN (Tables)
12 Months Ended
Dec. 31, 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, 2012
 
 
50,000
 
$
1.50
 
 
2.75
 
Exercisable at January 1, 2012
 
 
50,000
 
 
1.50
 
 
2.75
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
Outstanding at December 31, 2012
 
 
50,000
 
 
1.50
 
 
1.75
 
Exercisable at December 31, 2012
 
 
50,000
 
 
1.50
 
 
1.75
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
50,000
 
 
1.50
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
Outstanding at December 31, 2013
 
 
-
 
 
-
 
 
-
 
Exercisable at December 31, 2013
 
 
-
 
$
-
 
 
-
 
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, 2012
 
 
4,466,667
 
$
1.64
 
 
2.34
 
Exercisable at January 1, 2012
 
 
3,675,333
 
 
1.35
 
 
2.07
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
733,334
 
 
-
 
 
-
 
Outstanding at December 31, 2012
 
 
3,733,333
 
 
1.36
 
 
1.09
 
Exercisable at December 31, 2012
 
 
3,733,333
 
 
1.36
 
 
1.09
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
2,650,000
 
 
0.80
 
 
-
 
Forfeited
 
 
60,000
 
 
-
 
 
-
 
Outstanding at December 31, 2013
 
 
1,023,333
 
 
2.85
 
 
1.40
 
Exercisable at December 31, 2013
 
 
1,023,333
 
$
2.85
 
 
1.40
 
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, 2012
 
 
210,000
 
$
2.60
 
 
3.05
 
Exercisable at January 1, 2012
 
 
210,000
 
 
2.60
 
 
3.05
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
Outstanding at December 31, 2012
 
 
210,000
 
 
2.60
 
 
2.05
 
Exercisable at December 31, 2012
 
 
210,000
 
 
2.60
 
 
2.05
 
Granted
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
10,000
 
 
1.85
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
Outstanding at December 31, 2013
 
 
200,000
 
 
2.64
 
 
1.05
 
Exercisable at December 31, 2013
 
 
200,000
 
$
2.64
 
 
1.05