STOCK BASED COMPENSATION PLAN (Tables)

3 Months Ended

Mar. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

The weighted-average assumptions for options granted during the quarter ended March 31, 2013 and the resulting estimated weighted average fair value per share is presented below.

	March 31,
	2013
Assumptions:
Risk-free interest rate		1.90	%
Expected dividend yield		-	%
Expected life (years)		10
Expected common stock
market price volatility		64	%
Estimated fair value per share	$	1.82

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

A summary of option activity under the 2006 Plan for the period ended March 31, 2013 is presented below:

					Weighted
			Weighted		Average
	Number		Average		Remaining		Aggregate
	of		Exercise		Contractual		Intrinsic
	Options		Price		Term		Value
							(Dollars In Thousands)
Outstanding, beginning of period		392,740	$	9.16
Granted during period		118,000		2.52
Forfeited during period		-		-
Exercised during period		-		-
Outstanding, end of period		510,740	$	7.62		7.3	$	298
Eligible for exercise at period end		196,438	$	14.61		4.8	$	39

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

A summary of changes in our non-vested restricted shares for the quarter ended March 31, 2013 is presented below:

				Weighted
				Average
	Non-vested			Grant Date
	Shares			Fair Value
Outstanding, beginning of period		32,964		$	3.64
Granted during period		23,000			2.84
Vested during period		(17,632	)		3.59
Forfeited during period		-			-
Outstanding, end of period		38,332		$	3.18