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Stock Options

12 Months Ended

Dec. 31, 2011

In 1995, the Company adopted a stock option plan (the “Plan”) pursuant to which the Company’s Board of Directors may grant stock options to directors, officers and employees. The Plan was approved by the stockholders authorizes grants of options to purchase authorized but unissued common stock up to 10% of total common shares outstanding at each calendar quarter. Outstanding stock options under the Plan have five-year terms and vest and become fully exercisable up to three years from the date of grant. The Plan expired in February 2005 and no additional stock option grants have been made. The Company has not adopted a new stock option plan subsequently.

	Exercisable			Exercise Price			Weighted-Average

Options outstanding at December 31, 2009		50,000			50,000		$	1.00
Options granted
Options exercised							$
Options forfeited/expired		(50,000	)		(50,000	)	$	1.00

Options outstanding at December 31, 2010		--			--		$	--
Options granted
Options exercised							$
Options forfeited/expired							$

Options outstanding at December 31, 2011		--			--		$	--

Net compensation cost for each of the years ended December 31, 2011 and 2010 was $0.