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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2012
Summary Of Option Activity Under Stock Option Plans

The following table summarizes option activity:

 

     Shares     Weighted
Average
Exercise  Price

Per Share
     Weighted Average
Remaining
Contractual Term
(Years)
     Aggregate Intrinsic
Value(1)
 

Options outstanding, January 1, 2010

     3,650,000      $ 4.50         

Granted at fair market value

     434,000      $ 1.77         

Granted at above fair market value

     1,657,000      $ 2.00         

Exercised

     (225,000   $ 0.89         

Forfeited, cancelled, or expired

     (1,386,000   $ 3.91         
  

 

 

         

Options outstanding, December 31, 2010

     4,130,000      $ 3.60         

Granted at fair market value

     1,151,000      $ 4.11         

Granted at above fair market value

          $         

Exercised

     (657,000   $ 2.08         

Forfeited, cancelled, or expired

     (766,000   $ 4.92         
  

 

 

         

Options outstanding, December 31, 2011

     3,858,000      $ 3.75         

Granted at fair market value

     614,000      $ 1.80         

Granted at above fair market value

     568,000      $ 0.95         

Exercised

     (214,000   $ 2.12         

Forfeited, cancelled, or expired

     (966,000   $ 3.63         
  

 

 

         

Options outstanding, December 31, 2012

     3,860,000      $ 3.48         3.96       $ 199,000   
  

 

 

         

Options exercisable, December 31, 2012

     2,314,000      $ 4.02         3.86       $ 195,000   

Vested options

          

Vested options expired during the twelve months ended December 31, 2012

     208,000      $ 4.84          $   

 

(1) The intrinsic value calculation does not include negative values. This can occur when the fair market value on the reporting date is less than the exercise price of a grant.
Additional Information of Option Activity

The following table summarizes additional information for those options that are outstanding and exercisable as of December 31, 2012:

 

     Options Outstanding      Exercisable  

Range of Exercise Prices

   Number
of Shares
     Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Life (Years)
     Number
of Shares
     Weighted
Average
Exercise Price
 

$  0.72 — $1.99

     456,000       $ 1.43         5.50         379,000       $ 1.35   

$  2.00 — $2.99

     2,175,000       $ 2.28         3.91         917,000       $ 2.08   

$  3.00 — $3.99

     159,000       $ 3.20         3.50         75,000       $ 3.20   

$  4.00 — $4.99

     268,000       $ 4.25         4.50         232,000       $ 4.15   

$  5.00 — $5.99

     373,000       $ 5.44         4.22         288,000       $ 5.45   

$  6.00 — $9.99

     225,000       $ 7.49         3.12         219,000       $ 7.53   

$  10.00 — $13.99

     150,000       $ 11.34         1.31         150,000       $ 11.34   

$  14.00 — $18.99

     54,000       $ 14.14         1.43         54,000       $ 14.14   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

     3,860,000       $ 3.48         3.96         2,314,000       $ 4.02   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
Cash Proceeds, Along With Fair Value Disclosures Related to Grants, Exercises, and Vesting Options

Cash proceeds, along with fair value disclosures related to grants, exercises, and vesting options, are as follows for the years ended December 31 (in thousands, except per share amounts):

 

     Twelve Months  Ended
December 31,
 
     2012      2011      2010  

Proceeds from stock options exercised

   $ 455       $ 1,244       $ 199   

Tax benefit related to stock options exercised(1)

     N/A         N/A         N/A   

Intrinsic value of stock options exercised(2)

   $ 91       $ 1,328       $ 111   

Weighted-average fair value of options granted

   $ 1.39       $ 2.97       $ 1.09   

Total fair value of shares vested during the year

   $ 1,737       $ 1,259       $ 713   

 

(1) Excess tax benefits received related to stock option exercises are presented as financing cash inflows. Currently the Company does not receive a tax benefit related to the exercise of stock options due to its net operating losses.
(2) The intrinsic value of stock options exercised is the amount by which the market price of the stock on the date of exercise exceeded the market price of the stock on the date of grant.