Common stock options

12 Months Ended

Dec. 31, 2011

Common stock options

9. Common stock options:

On August 4, 2004, our shareholders approved the 2004 Stock Incentive Plan. The plan reserves 2,000,000 shares of common stock for issuance as approved by our board of directors. There are no outstanding options at December 31, 2011.

The Board of Directors has full authority and discretion to determine the eligible participants to be granted stock options, the exercise option price, the date of issuance and the date of expiration. The Company did not grant any options during the calendar years 2011 and 2010.There was no stock option activity in 2011 or 2010.