Stock Options

9 Months Ended

Sep. 30, 2013

Stock Options [Abstract]

Stock Options [Text Block]

8. 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 vested after six months after the grant date. At September 30, 2013, 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. For the three and nine months ended September 30, 2013 and 2012, compensation expense was $0 and $0, and $0 and $98,667, respectively. The Company has approximately $592,000 of unrecognized compensation expense related to unvested share-based compensation awards, which will vest upon the achievement of performance milestones.