E - INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Income tax expense (benefit) provision

	Year Ended December 31,
	2012			2011			2010
Federal income tax expense (benefit):
Current	$	—		$	—		$	286,000
Deferred		—			—			731,000
		—			—			1,017,000
State and local:
Current		34,000			23,000			—
Deferred		—			—			592,000
		34,000			23,000			592,000
Total:
Current		34,000			23,000			286,000
Deferred		—			—			1,323,000
	$	34,000		$	23,000		$	1,609,000
A reconciliation between the income tax expense (benefit) and income taxes computed by applying the statutory Federal income tax rate to loss before income taxes is as follows:
	Year Ended December 31,
	2012			2011			2010
Expected income tax benefit at statutory Federal tax rate (34%)	$	(47,000)		$	(1,812,000	)	$	(351,000	)
State and local taxes, net of Federal tax effect		22,000			(406,000	)		(67,000	)
Increase in valuation allowance		—			2,177,000			1,980,000
Permanent difference		36,000			36,000			47,000
Other		(23,000	)		28,000			—
Income tax expense	$	34,000		$	23,000		$	1,609,000

Deferred tax assets (liabilities)

	December 31,
	2012			2011
Deferred tax asset:
Net operating loss carryforwards	$	3,239,000		$	3,060,000
Employee stock based compensation		237,000			231,000
Retail brokerage accounts		362,000			430,000
Contribution carryover		345,000			252,000
Furniture, equipment and leasehold improvements		59,000			68,000
Accrued expenses		134,000			400,000
Accrued compensation and other		179,000			59,000
		4,555,000			4,500,000
Valuation allowance		(4,432,000	)		(4,260,000	)
		123,000			240,000
Deferred tax liability:
Acquired intangible assets		(123,000	)		(240,000	)
	$	0		$	0