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Stock Options (Tables)
12 Months Ended
Dec. 31, 2012
Stock Options [Abstract]  
Summary of Stock Options Activity
                           

 

 

2012

 

2011

 

 

 

Options

 

Weighted Average

Exercise Price

 

Options

 

Weighted Average

Exercise Price

 

Outstanding, beginning of year

 

 

2,993,972

 

$

.37

 

 

2,161,583

 

$

.66

 

Granted

 

 

935,000

 

 

.14

 

 

896,389

 

 

.27

 

Exercised

 

 

-

 

 

-

 

 

-

 

 

-

 

Cancelled

 

 

(25,000

)

 

.14

 

 

(40,000

)

 

.25

 

Expired

 

 

(40,000

)

 

.39

 

 

(24,000

)

 

.78

 

Outstanding, end of year

 

 

3,863,972

 

 

.32

 

 

2,993,972

 

 

.37

 

Exercisable, end of year

 

 

2,176,972

 

 

.41

 

 

1,432,273

 

 

.51

 

Options available for future grant, end of year

 

 

1,703,611

 

 

 

 

 

2,647,103

 

 

 

 


Schedule of Unvested Options Activity
                           

 

 

2012

 

2011

 

 

 

Options

 

Weighted Average

Exercise Price

 

Options

 

Weighted Average

Exercise Price

 

Non-Vested options at beginning of year

 

 

1,561,699

 

$

.25

 

 

1,240,795

 

$

.23

 

Granted

 

 

935,000

 

 

.14

 

 

850,000

 

 

.27

 

Vested

 

 

(784,699

)

 

.24

 

 

(403,309

)

 

.27

 

Cancelled

 

 

(25,000

)

 

.14

 

 

(125,787

)

 

.25

 

Non- Vested options end of year

 

 

1,687,000

 

 

.13

 

 

1,561,699

 

 

.25

 


Summary of Options Outstanding by Price Range
                                 

 

 

Options Outstanding

 

Options Exercisable

 

Range of

Exercise Price

 

Number

Outstanding

 

Remaining

Average

Contractual

Life (In Years)

 

Weighted

Average

Exercise Price

 

Number

Exercisable

 

Weighted

Average

Exercise Price

 

0 - 1.70

 

 

3,819,972

 

 

6.49

 

$

.30

 

 

2,132,972

 

$

.37

 

1.71 - 2.60

 

 

44,000

 

 

.32

 

 

2.31

 

 

44,000

 

 

2.31

 

 

 

 

3,863,972

 

 

6.42

 

 

.32

 

 

2,176,972

 

 

.41

 


Schedule of Fair Value Assumptions


           

 

December 31,

 

2012

 

2011

Risk-free interest rate

2.18

%

 

3.68

%

Expected term (life) of options (in years)

9.84

 

 

10.0

 

Expected dividends

-

 

 

-

 

Expected volatility

243.44

%

 

138.0

%