XML 34 R10.htm IDEA: XBRL DOCUMENT

Stock Options

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements

Increase in number of shares authorized under the 2010 Equity Incentive Plan (the “Plan”)

On January 20, 2012, the Company’s Board of Directors approved an increase in the number of shares authorized under the Plan from 220,416 to 420,416.

Issuance of non-qualified stock options

The Company issued options to purchase 10,000 shares to a consultant on January 1, 2012, which were vested immediately with an exercise price of $2.30 per share. The Company also issued options to purchase a total of 105,000 shares of common stock with an exercise price of $0.01 per share on January 20, 2012 to four former employees and consultants of SECCS. The options will vest through December 31, 2012 upon the achievement of specified milestones related to the execution of annual contracts for XBRL services or revenue targets.

The following table summarizes information about stock options outstanding and exercisable at March 31, 2012:

		Options Outstanding					Options Exercisable
Exercise Price		Number		Weighted Average Remaining Contractual Life (in Years)			Number
$0.01		105,000		9.80			0
$1.70		19,000		9.15			0
$1.87		3,000		9.15			0
$2.10		79,250		8.36			45,500
$2.30		15,000		9.72			15,000
$2.31		16,500		8.36			14,625
Total		237,750		9.16			75,125

.

The Company recognized stock based compensation expense of $81,910 and $19,346 during the three-month periods ended March 31, 2012 and March 31, 2011, respectively.

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References+ Details