Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

Officer and Employee Plans [Member]

A summary of the status of these stock option plans is presented in the following table:

					Weighted-
					Average
			Weighted		Contractual
			Average		Remaining	Aggregate
			Exercisable		Term	Intrinsic
	Number		Price		(in years)	Value
Outstanding at December 31, 2013		810,825	$	3.51	6.5 Years	$	257,570
Granted		207,000		2.40	9.9 Years
Exercised		-		-
Forfeited		(73,640)		5.05
Outstanding at March 31, 2014		944,185	$	3.15	7.5 Years	$	264,320
Options exercisable at March 31, 2014		343,085	$	4.92

This was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions:

Board Of Directors Plan [Member]

A summary of the status of this stock option plan is presented in the following table:

					Weighted-
					Average
			Weighted		Contractual
			Average		Remaining		Aggregate
			Exercisable		Term		Intrinsic
	Number		Price		(in years)		Value
Outstanding at December 31, 2013		190,250	$	3.07		6.9 Years	$	64,800
Granted		80,000		2.40		9.9 Years
Exercised		-		-
Forfeited		(16,000)		5.44
Outstanding at March 31, 2014		254,250	$	2.71		8.1 Years	$	67,500
Options exercisable at March 31, 2014		151,750	$	2.93

This was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions: