STOCK COMPENSATION PLANS

12 Months Ended

Dec. 31, 2011

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 8 - STOCK COMPENSATION PLANS

Pursuant to the Company’s 2001 Omnibus Plan, as amended, eligible persons, as defined therein, may be granted (a) stock options which may be designated as nonqualified stock options or incentive stock options, (b) stock appreciation rights, (c) restricted stock awards, (d) performance awards, or (e) other forms of stock-based incentive awards.

The maximum number of shares with respect to which the awards may be granted under the 2001 Omnibus Plan, as amended, is 10,000,000 shares of common stock; provided, however, that such number of shares of common stock may also be subject to adjustment, from time to time, at the discretion of the Board of Directors of the Company.

As of December 31, 2011, there are no options issued and outstanding under the Company’s 2001 Omnibus Plan, as amended.

A summary of the Company’s option activity is as follows:

	Inside Plan		Outside Plan		Total
Balance – January 1, 2010		1,000,000		3,000,000		4,000,000
Granted		-		-		-
Exercised		-		-		-
Expired		1,000,000		3,000,000		4,000,000
Balance – December 31, 2010  and 2011		-		-		-

As of December 31, 2011, all of the previously issued options both inside and outside of the Omnibus Plan, as amended, have expired.