Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2012

Stock-Based Compensation [Abstract]

Summary of Share Based Compensation of Fair Value Assumptions

The fair value of each option granted during the nine months ended September 30, 2012 and 2011 was estimated using the following assumptions.

	Nine months ended September 30, 2012	Nine months ended September 30, 2011
Expected volatility	85.41% - 111.36%	76.91% - 102.63%
Expected dividend yield	0.00%	0.00%
Risk-free interest rate	1.02% – 1.98%	2.25% – 3.25%
Expected life	5.5 – 10.0 years	5.5 – 10.0 years
Forfeiture rate	0% - 2%	0% - 5%

Summary of Company's Stock Option activity

The following summarizes the Company’s stock option activity for the nine months ended September 30, 2012:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2011		1,628,167		$	1.35		6.26
Granted		813,500		$	0.66		9.39
Exercised		—			—
Canceled or expired		(237,667	)	$	1.99
Outstanding at September 30, 2012		2,204,000		$	1.02		7.09	$	0
Exercisable at September 30, 2012		990,875		$	1.24		5.41	$	0
Vested and expected to vest at September 30, 2012		2,155,239		$	1.03		7.05	$	0