STOCK-BASED COMPENSATION

9 Months Ended

Sep. 29, 2012

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION

NOTE 8 — STOCK-BASED COMPENSATION

The following table summarizes the activity for the outstanding stock options for the nine months ended September 29, 2012:

			Weighted -
			Average
	Number of		Exercise
	Shares		Price
Outstanding, December 31, 2011	1,156,621		$	3.90
Granted	—		n/a
Exercised	(53,471	)	1.66
Expired	(12,974	)	6.15
Forfeited	(125,035	)	3.02
Outstanding, September 29, 2012	965,141		$	3.93

As of September 29, 2012, outstanding exercisable options had an intrinsic value of $606,504 and a weighted-average remaining contractual life of 2.85 years.

Total unrecognized compensation expense related to all share-based awards outstanding at September 29, 2012, was approximately $127,877 and will be recorded over a weighted average contractual life of 1.0 year.