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Stock Options and Warrants (Tables)
 12 Months Ended
Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Fair Value Assumptions
The following table sets forth the weighted average assumptions used in applying the Black Sholes option pricing model to the option grants in 2012 and 2011.
 
2012
 
2011
Weighted average fair value of options granted
$
1.24

 
$
1.74

Expected dividend yield
—%
 
—%
Expected volatility
109.4
%
 
108.3
%
Risk—free interest rate
0.67
%
 
1.15
%
Expected life of options
5 years
 
5 years
Schedule of Stock Option Activity
The following table reflects stock option activity in 2012 and 2011.
 
Approximate
number of
shares
 
Range of exercise
prices per share
 
Weighted
average exercise
price per share
 
Weighted
average remaining
contractual life (years)
Options outstanding at January 1, 2011
2,687,000

 
 
 
$
7.19

 
1.69
Granted in 2011
67,000

 
$ 1.98 - $ 2.97
 
$
2.23

 
 
Cancelled in 2011
(78,000
)
 
$ 4.71 - $42.75
 
$
19.88

 
 
Options outstanding at December 31, 2011
2,676,000

 
 
 
$
6.93

 
1.77
Granted in 2012
50,000

 
$1.59
 
$
1.59

 
4.85
Cancelled in 2012
(522,000
)
 
$4.71 - $26.22
 
$
12.84

 
 
Options outstanding at December 31, 2012
2,204,000

 
 
 
$
8.45

 
2.26
Options exercisable at December 31, 2012
1,942,000

 
 
 
$
5.79

 
2.14