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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2013
Stock-Based Compensation [Abstract]  
Fair value of the options granted, determined, using weighted-average assumption

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

June 30, 2013

 

June 30, 2013

 

 

 

 

Risk-free interest rate

1.32%

 

1.32%

Expected term (years)

7

 

7

Expected stock price volatility

80%

 

80%

Dividend yield

0%

 

0%

 

Summary of stock option activity in the Plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (Years)

 

Intrinsic Value

 

 

 

 

 

 

 

 

 

 

Outstanding at beginning of year

234,696 

 

$

4.29 

 

 

 

 

 

Granted

30,000 

 

 

1.50 

 

 

 

 

 

Exercised

-  

 

 

 -

 

 

 

 

 

Expired

-  

 

 

 -

 

 

 

 

 

Cancelled or Forfeited

(24,290)

 

 

18.21 

 

 

 

 

 

Outstanding at end of period

240,406 

 

$

2.53 

 

9.2 

 

$

-  

 

 

 

 

 

 

 

 

 

 

Expected to vest

227,410 

 

$

1.34 

 

9.4 

 

$

-  

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

12,996 

 

$

23.48 

 

5.0 

 

$

-  

 

Information related to the Plans

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30,

 

2013

 

2012

 

 

 

 

 

Weighted average fair value of options granted

$

1.08

 

n/a

 

Summary of changes in the Company's nonvested restricted shares

 

 

 

 

 

 

 

 

 

 

Nonvested Shares

Shares

 

Weighted Average Grant-Date Fair Value

 

 

 

 

 

Nonvested at January 1, 2013

1,400 

 

$

6.61 

Granted

                 -  

 

 

 -

Vested

                 -  

 

 

 -

Forfeited

(1,000)

 

 

7.25 

Nonvested at June 30, 2013

400 

 

$

5.00