Note 6 - Share Based Compensation

9 Months Ended

Sep. 30, 2012

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

Note 6 – Share Based Compensation

During the three and nine months ended September 30, 2012, the Company did not issue any stock options.   The Company recognized stock-based compensation expense of $7,837 and $8,799 for the three months ended September 30, 2012 and 2011, respectively.  The Company recognized stock-based compensation expense of $23,512 and $19,812 for the nine months ended September 30, 2012 and 2011, respectively.   As of September 30, 2012, there were 690,000 outstanding options, of which 478,000 were exercisable.  As of September 30, 2012, there was $16,726 of unrecognized stock-based compensation expense that will be recognized in future periods.

During the three and nine months ended September 30, 2012, the Company did not issue any shares of restricted stock.   The Company recognized stock-based compensation expense of $1,328 and $0 for the three months ended September 30, 2012 and 2011, respectively.  The Company recognized stock-based compensation expense of $3,946 and $0 for the nine months ended September 30, 2012 and 2011, respectively.   As of September 30, 2012, there was $16,414 of unrecognized stock-based compensation expense that will be recognized in future periods.  There were 186,000 unvested restricted shares of common stock as of September 30, 2012.