STOCK OPTIONS

3 Months Ended

Mar. 31, 2013

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

Stock Options

STOCK OPTIONS

The following table summarizes stock option activity during the three months ended March 31, 2013:

	Number of Options		Weighted Average Exercise Price
Balance at January 1, 2013	4,353,167		$	1.05
Granted	307,500		0.57
Exercised	—		—
Forfeited	(40,334	)	(1.16		)
Expired	—		—
Balance at March 31, 2013	4,620,333		$	1.02
Exercisable at March 31, 2013	2,852,310		$	1.04

During the three months ended March 31, 2013, we granted options exercisable to purchase 307,500 shares of common stock at a weighted average exercise price of $0.57 per share under our 2006 Equity Incentive Plan. Options to purchase an aggregate of 100,000 shares of common stock were granted during the three months ended March 31, 2012.