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Stock Options
3 Months Ended
Mar. 31, 2012
Stock Options [Abstract]  
Stock Options [Text Block]

9. Stock Options

 

 

In connection with the November 8, 2011 “Strategic Transactions” the Company issued 740,000 options at an exercise price of $1.25. A total of 148,000 shares vest six months after the grant date. At March 31, 2012, the aggregate intrinsic value was $0. The remaining options vest upon the achievement of performance milestones Options vesting on the achievement of performance milestones will not be recognized as compensation until such milestones are deemed probable of achievement. The Company recorded stock- based compensation expense of $74,000 for the three months ended March 31, 2012. At March 31, 2012, the Company has approximately $451,000 of unrecognized compensation expense related to unvested share-based compensation awards. Compensation expense totaling $24,667 will be recognized in April 2012 and remaining $426,000 will vest upon the achievement of performance milestones.