Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2012

Assumptions of Estimated Fair Value of Options

We used the following assumptions in estimating the fair value of the options issued in the periods indicated below:

	Year Ended December 31,
	2012			2011			2010
Expected volatility		59.00	%		72.00	%		71.00	%
Risk free interest rate		1.64	%		2.15	%		2.79	%
Expected dividend yields		N/A			N/A			N/A
Expected lives		10 years			10 years			10 years

Summary of Stock Option Activity

The following tables summarize stock option activity during the years ended December 31, 2012 and 2011:

	Year Ended December 31, 2012
	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic 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 December 31, 2012		433,000			3.60		2.4 years	$	157,000
Exercisable at December 31, 2012		425,000			3.64		2.3 years	$	155,000
Options vested and expected (as of December 31, 2012) to vest in the future		433,000			3.60		2.4 years	$	157,000

	Year Ended December 31, 2011
	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Values
Outstanding at January 1, 2011		652,001		$	5.01
Granted		8,000			2.74
Exercised		(7,000	)		0.82
Forfeited		(107,000	)		7.54
Outstanding at December 31, 2011		546,001			4.54		2.8 years	$	202,800
Exercisable at December 31, 2011		476,801			5.01		2.7 years	$	131,000
Options vested and expected (as of December 31, 2011) to vest in the future		546,001			4.54		2.8 years	$	202,800

Summary of Share Based Compensation Option Unvested

A summary of the status of the Company’s unvested stock options as of December 31, 2012 and 2011 and the changes that occurred during each of the years then ended is presented below:

	Shares			Weighted  Average Grant Date Fair Value
Unvested at January 1, 2012		69,200		$	0.73
Granted		8,000			1.28
Vested		(69,200	)		0.73
Forfeited		—			—
Unvested at December 31, 2012		8,000		$	1.28

	Shares			Weighted  Average Grant Date Fair Value
Unvested at January 1, 2011		190,100		$	1.11
Granted		8,000			1.97
Vested		(128,900	)		1.37
Forfeited		—			—
Unvested at December 31, 2011		69,200		$	0.73

Stock Options Outstanding Under Equity Incentive Plans

Set forth below is additional information with respect to the stock options that were outstanding under our equity incentive plans at December 31, 2012:

Range	Outstanding Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Options Exercisable		Weighted Average Exercise Price
$0.63 – $4.50		236,000	$	1.66		2.9		228,000	$	1.65
$4.75 – $9.80		197,000	$	5.94		1.9		197,000	$	5.94
$0.63 – $9.80		433,000	$	3.60		2.4		425,000	$	3.64

Summary of Restricted Share Activity

A summary of restricted stock activity during the years ended December 31, 2012 and 2011 is presented below:

	Shares			Weighted Average Grant Date Fair Values
Outstanding at January 1, 2012		232,501		$	4.31
Granted		147,500			2.28
Vested		(58,500	)		4.15
Forfeited		(9,000	)		3.89
Outstanding and unvested at end of year		312,501		$	3.39
	Shares			Weighted Average Grant Date Fair Values
Outstanding at January 1, 2011		177,000		$	4.15
Granted		114,500			4.47
Vested		(58,999	)		4.15
Forfeited		—			—
Outstanding and unvested at end of year		232,501		$	4.31