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STOCK OPTIONS
9 Months Ended
Sep. 30, 2011
Stock Options [Abstract] 
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
STOCK OPTIONS
 
The following table summarizes stock option activity during the nine months ended September 30, 2011:
 
 
Number of
Options
 
Weighted Average
Exercise Price
Balance at January 1, 2011
2,565,001

 
$
2.11

Granted
2,335,500

 
1.17

Exercised
(30,000
)
 
(0.76
)
Forfeited
(334,501
)
 
(1.66
)
Cancelled
(363,000
)
 
(6.79
)
Balance at September 30, 2011
4,173,000

 
$
1.20

Exercisable at September 30, 2011
2,234,712

 
$
1.26

During the nine months ended September 30, 2011, we granted options exercisable to purchase 2,335,500 shares of common stock at a weighted average exercise price of $1.17 under our 2006 Equity Incentive Plan. No options were granted in the third quarter of 2011.