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STOCK BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2012
STOCK BASED COMPENSATION  
Summary of the Company's restricted stock activity

 

 

 

 

Number

 

Weighted Avg.

 

 

 

of

 

Grant Date

 

 

 

Shares

 

Fair Value

 

Nonvested at January 1, 2012

 

—

 

—

 

Granted

 

320,000

 

$

3.25

 

Stock Dividend

 

16,000

 

$

3.25

 

Vested

 

52,500

 

$

3.50

 

Forfeited

 

—

 

—

 

Nonvested at September 30, 2012

 

285,500

 

3.20