Stock Options (Tables)

9 Months Ended

Sep. 30, 2012

Stock Options Tables

Stock options outstanding and exercisable

The following table summarizes information about stock options outstanding and exercisable at September 30, 2012:

	Number of Share Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value(1)
Outstanding at December 31, 2011		2,529,000	$	1.07		6.09	$	—
Granted		270,000	$	0.08		—	$	—
Exercised		—	$	—		—	$	—
Forfeited or Cancelled		(1,969,000)	$	1.08		—	$	—
Outstanding at September 30, 2012		830,000	$	0.73		4.22	$	10,000
Exercisable at September 30, 2012		568,000	$	1.01		4.49	$	1,000
Vested and expected to vest (2)		830,000	$	0.73		5.80	$	—

Unvested share activity

Unvested share activity for the nine months ended September 30, 2012 is summarized below:

	Unvested Number of Options			Weighted Average Grant Date Fair Value
Unvested balance at December 31, 2011		1,403,000		$	0.26
Granted		270,000		$	0.05
Vested		(892,000	)	$	0.19
Forfeited		(519,000	)	$	0.29
Unvested balance at September 30, 2012		262,000		$	0.05

Fair Value of Stock options

The fair values of all stock options granted during the nine months ended September 30, 2012 and 2011 were estimated on the date of grant using the Black-Scholes option-pricing model with the following range of assumptions:

	For the nine months ended
	September 30, 2012			September 30, 2011
Expected life (in years)		1.5 - 6.5		2.5 – 6.5
Average risk-free interest rate		1.66	%		2.00	%
Expected volatility		108 – 136	%		107 - 132	%
Expected dividend yield		0	%		0	%
Forfeiture rate		3	%		3	%