STOCKHOLDERS' DEFICIT

6 Months Ended

Jun. 30, 2011

STOCKHOLDERS' DEFICIT [Abstract]

STOCKHOLDERS' DEFICIT

9.       STOCKHOLDERS' DEFICIT:

Preferred Stock

We were authorized, without further action by the shareholders, to issue 10,000,000 shares of one or more series of preferred stock at a par value of $0.0001, all of which is nonvoting. The Board of Directors may, without shareholder approval, determine the dividend rates, redemption prices, preferences on liquidation or dissolution, conversion rights, voting rights and any other preferences.

No shares of preferred stock were issued or outstanding at June 30, 2011.

Common Stock

We were authorized to issue 100,000,000 shares of common stock, par value $0.0001 per share.

On April 29, 2008, we held our annual meeting of stockholders at which meeting the majority of stockholders approved, an up to 3 for 1 reverse split of our shares of common stock. No such reverse split has been effected as yet.

Recent Issuances

No shares of our common stock were issued in the six month periods ended June 30, 2011 or 2010.

Warrants

No warrants were issued or outstanding during the six month periods ended June 30, 2011 or 2010.

Stock Options

Effective March 19, 1999, we adopted a stock option plan (the "Plan"). The Plan provides for grants of incentive stock options, nonqualified stock options and restricted stock to designated employees, officers, directors, advisors and independent contractors. The Plan authorized the issuance of up to 75,000 shares of Class A Common Stock. Under the Plan, the exercise price per share of a non-qualified stock option must be equal to at least 50% of the fair market value of the common stock at the grant date, and the exercise price per share of an incentive stock option must equal the fair market value of the common stock at the grant date. No stock options were issued or outstanding during the six month periods ended June 30, 2011.

During the year ended December 31, 2009, the 2,000 remaining stock options outstanding under the plan expired.