Subsequent Events

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

10. Subsequent Events

The Company granted to executive officers, non-executive employees of the Company and directors of the Company an aggregate of 1,370,000 shares of restricted common stock of the Company with a grant date of April 1, 2013.

The vesting date of 1,075,000 shares is September 30, 2013 and the 295,000 remaining shares of Restricted Stock will vest evenly over 2 years, whereby 50% shall vest on March 31, 2014 and 50% shall vest on March 31, 2015.

In addition, the Company granted to non-executive employees of the Company 30,000 shares of restricted common stock of the Company with a grant date of May 1, 2013.

The estimated fair value of the aggregate 1,400,000 shares of Restricted Stock is $6,300,000 based on an estimate of $4.50 per share. The Company expects to expense $5,152,000 during 2013. The remaining expense is expected to be recognized over a period of 16 months from January 1, 2014 through April 30, 2015.