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RELATED PARTY TRANSACTIONS	3 Months Ended
Mar. 31, 2015
RELATED PARTIES [Abstract]
RELATED PARTIES	2. RELATED PARTY TRANSACTIONS Share-Based Compensation – Employees and Directors For the three months ended March 31, 2015 and 2014, share-based compensation expense totaled approximately $-0- and $2,000, respectively. There was no related income tax benefit recognized because our deferred tax assets are fully offset by a valuation allowance. We determine the fair value of option grant share-based awards at their grant date, using a Black-Scholes-Merton Option-Pricing Model. During the three months ended March 31, 2015, no options to purchase stock were granted, exercised, forfeited or expired; no restricted stock units were granted, vested or forfeited; and no restricted stock awards were granted, vested or forfeited. At March 31, 2015, options to purchase 32,000 shares of common stock with an average exercise price of $0.51 per share were outstanding. Sale of Fixed Assets and Inventory As part of the Company’s decision to eliminate its lease obligations by vacating its facilities, certain fully depreciated equipment no longer being utilized, which was purchased over the years 2003 to 2012 in the amount of approximately $303,000, as well as obsolete raw materials inventory with an original cost of $32,900, for which the loss had been fully reserved, was sold to one of the founders of this Company who left the Company in 2009, for $1,000.

RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2015

2. RELATED PARTY TRANSACTIONS

Share-Based Compensation – Employees and Directors

For the three months ended March 31, 2015 and 2014, share-based compensation expense totaled approximately $-0- and $2,000, respectively.

There was no related income tax benefit recognized because our deferred tax assets are fully offset by a valuation allowance.

We determine the fair value of option grant share-based awards at their grant date, using a Black-Scholes-Merton Option-Pricing Model.

During the three months ended March 31, 2015, no options to purchase stock were granted, exercised, forfeited or expired; no restricted stock units were granted, vested or forfeited; and no restricted stock awards were granted, vested or forfeited. At March 31, 2015, options to purchase 32,000 shares of common stock with an average exercise price of $0.51 per share were outstanding.

Sale of Fixed Assets and Inventory

As part of the Company’s decision to eliminate its lease obligations by vacating its facilities, certain fully depreciated equipment no longer being utilized, which was purchased over the years 2003 to 2012 in the amount of approximately $303,000, as well as obsolete raw materials inventory with an original cost of $32,900, for which the loss had been fully reserved, was sold to one of the founders of this Company who left the Company in 2009, for $1,000.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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