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Stock Compensation Plans (Tables)
 9 Months Ended
Sep. 30, 2013
Stock Compensation Plans [Abstract]  
Activity in stock option plans
Activity in our stock option and incentive plans for the period from January 1, 2011 to September 30, 2013 is as follows.

 
 
1998 Plan
  
2002 Plan
  
2012 Plan
 
 
 
Number of Shares
  
Weighted Average Option Exercise Price
  
Number of Shares
  
Weighted Average Option Exercise Price
  
Number of Shares
  
Fair Market Value at Grant
 
Outstanding at January 1, 2011
  
89,750
  
$
12.83
   
574,800
  
$
9.12
   
-
  
$
-
 
Granted
  
-
  
$
-
   
179,000
  
$
2.45
   
-
  
$
-
 
Exercised
  
-
  
$
-
   
-
  
$
-
   
-
  
$
-
 
Cancelled
  
-
  
$
-
   
(129,100
)
 
$
14.29
   
-
  
$
-
 
Outstanding at January 1, 2012
  
89,750
  
$
12.83
   
624,700
  
$
6.15
   
-
  
$
-
 
Granted
  
-
  
$
-
   
181,500
  
$
4.40
   
-
  
$
-
 
Exercised
  
-
  
$
-
   
(33,104
)
 
$
3.86
   
-
  
$
-
 
Cancelled
  
(11,250
)
 
$
13.54
   
(70,499
)
 
$
12.45
   
-
  
$
-
 
Outstanding at January 1, 2013
  
78,500
  
$
12.73
   
702,597
  
$
5.17
   
-
  
$
-
 
Granted
  
-
  
$
-
   
-
  
$
-
   
250,000
  
$
5.54
 
Exercised
  
-
  
$
-
   
(93,537
)
 
$
3.83
   
-
  
$
-
 
Cancelled
  
(40,000
)
 
$
11.18
   
(10,999
)
 
$
3.64
   
(500
)
 
$
5.54
 
Outstanding at September 30, 2013
  
38,500
  
$
14.34
   
598,061
  
$
5.41
   
249,500
  
$
5.54
 
Maturity schedule of exercisable options outstanding
Options outstanding as of September 30, 2013 are exercisable as follows.

 
 
1998 Plan
  
2002 Plan
 
Options Exercisable at:
 
Number of Shares
  
Weighted Average Option Exercise Price
  
Number of Shares
  
Weighted Average Option Exercise Price
 
 
 
  
  
  
 
September 30, 2013
  
38,500
  
$
14.34
   
383,682
  
$
5.41
 
December 31, 2013
  
-
  
$
14.34
   
1,333
  
$
5.41
 
December 31, 2014
  
-
  
$
14.34
   
138,146
  
$
5.41
 
December 31, 2015
  
-
  
$
14.34
   
74,900
  
$
5.41
 
December 31, 2016
  
-
  
$
14.34
   
-
  
$
5.41
 
December 31, 2017
  
-
  
$
14.34
   
-
  
$
5.41
 
Thereafter
  
-
  
$
14.34
   
-
  
$
5.41
 
Total options exercisable
  
38,500
       
598,061
     
Assumptions used to estimate the fair value of options granted
 The fair value of options granted is estimated on the date of grant using the following assumptions.

 
September 30, 2013
September 30, 2012
Dividend yield
N/A
N/A
Expected volatility
N/A
39.79%
Risk-free interest rate
N/A
0.28%
Expected life (in years)
N/A
4.45
 
Summary of non-expired stock option plans outstanding
Summary information about the Company’s stock option plans at September 30, 2013 is as follows.

 
 
  
  
Weighted Average
  
Weighted
  
 
 
 
Range of
  
Outstanding at
  
Contractual
  
Average
  
Exercisable at
 
 
 
Exercise Price
  
September 30, 2013
  
Periods in Years
  
Exercise Price
  
September 30, 2013
 
1998 Plan
 
$
8.67 - $16.59
   
38,500
   
0.17
  
$
14.34
   
38,500
 
2002 Plan
 
$
2.45 - $13.24
   
598,061
   
5.05
  
$
5.41
   
383,682