Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2012

Summary of Stock Option Activity

The following tables summarize stock option activity during the six month periods ended June 30, 2012 and 2011:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Average Intrisic Value
Outstanding at January 1, 2012		546,001		$	4.54
Granted		—			—
Exercised		—			—
Forfeited		(110,000	)		8.30
Outstanding and exercisable at June 30, 2012		436,001		$	3.59		2.3 years	$	174,267

Summary of Share Based Compensation Option Nonvested

A summary of the status of the Company’s unvested options as of June 30, 2012 and changes during the six month period ended June 30, 2012 is presented below:

	Shares			Weighted Average Grant Date Fair Value
Nonvested at January 1, 2012		69,200		$	0.73
Granted		—			—
Vested		(69,200	)		0.73
Forfeited		—			—
Nonvested at June 30, 2012		—		$	—

Summary of Restricted Share Activity

A summary of the status of the Company’s restricted share activity follows:

	Shares			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2012		232,501		$	4.31
Granted		147,500			2.28
Vested		(58,500	)		(4.15	)
Forfeited		(2,500	)		(4.34	)
Nonvested at June 30, 2012		319,001		$	3.40