Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Summary Of Options Grantes in Period Weighted Average Assumptions

We used the following weighted average assumptions in estimating the fair values of the options granted in the periods indicated below:

	Nine Months Ended September 30,
	2012			2011
Stock Incentive Plans:
Expected volatility		59.0	%		72.0	%
Risk-free interest rate		1.64	%		2.15	%
Expected dividend yields		N/A			N/A
Expected lives		10 years			10 years

Summary of Stock Option Activity

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

	Number of Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Average Intrisic Values
Outstanding at January 1, 2012		546,001		$	4.54
Granted		8,000			1.80
Exercised		(3,334	)		0.90
Forfeited		(117,667	)		7.90
Outstanding at September 30, 2012		433,000		$	3.60		2.3 years	$	174,000
Exercisable at September 30, 2012		425,000		$	3.64		2.4 years	$	172,000
Options vested and expected, as of September 30, 2012, to vest thereafter		433,000		$	3.60		2.3 years	$	174,000

Summary of Share Based Compensation Option Nonvested

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

	Shares			Weighted Average Grant Date Fair Value
Nonvested at January 1, 2012		69,200		$	0.73
Granted		8,000			1.28
Vested		(69,200	)		0.73
Forfeited		—			—
Nonvested at September 30, 2012		8,000		$	1.28

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		(4,500	)		(4.36	)
Nonvested at September 30, 2012		317,001		$	3.39