Note 15 - Related Party Transactions

3 Months Ended

Mar. 31, 2012

Related Party Transactions Disclosure [Text Block]

15.    Related Party Transactions

As of March 31, 2012, Steel Partners Holdings, L.P., SPH Group LLC, SPH Group Holdings LLC, and Steel Partners Holdings GP Inc. (collectively, “Steel Partners”) beneficially owned approximately 40% of the Company’s outstanding common stock. Jack L. Howard, John J. Quicke, and Warren G. Lichtenstein are directors of the Company and each such person is deemed to be an affiliate of Steel Partners under the rules of the Securities Exchange Act of 1934, as amended. Each of the three directors is compensated with cash compensation and equity awards or equity-based awards in amounts that are consistent with the Company’s Non-employee Director Compensation Policy. In addition, Mr. Quicke currently serves as the Interim President and CEO of the Company and is compensated $30,000 per month in connection with this role, which is in addition to the compensation he receives as a non-employee board member. Mr. Quicke also serves as the CEO of other affiliates of Steel Partners.

Pursuant to a management services agreement between the Company and SP Corporate Services LLC (“SP Corporate”), the Company used $0.1 million of various services during the three-month period ended March 31, 2012. SP Corporate is an affiliate of Steel Partners.

See Note 16 below for discussion of a pending acquisition of a company majority-owned by Steel Partners.