Stock Options (Tables)

12 Months Ended

Dec. 31, 2012

Stock Options

Schedule of assumptions used in determining stock based compensation costs under the Black-Scholes option pricing model

	2012		2011		2010
Expected volatility	82.89	%	86.91	%	—
Risk-free interest rate	0.39	%	0.36	%	—
Expected life (years)	2.95		3.24		—
Dividend yield	Nil		Nil		—
Estimated forfeiture rate	10	%	10	%	—

Schedule of stock options by range of exercise prices

			Weighted				Weighted
			Average	Weighted			Average	Weighted
			Remaining	Average			Remaining	Average
Exercise		Number	Contractual	Exercise		Number	Contractual	Exercise
Prices		Outstanding	Life	Price		Exercisable	Life	Price
$	1.60	631,200	1.05	$	1.60	631,200	1.05	$	1.60
$	2.37	767,000	3.99	$	2.37	76,700	3.99	$	2.37
$	2.05	50,000	4.33	$	2.05	—	—	—
		1,448,200	2.72	$	2.02	707,900	1.37	$	1.68

Summary of stock options activity

			Weighted Average		Aggregate Intrinsic
	Number		Exercise Price		Value
Outstanding as at December 31, 2010	1,497,400		$	1.63
Granted	767,000		2.37
Expired	(30,000	)	3.23
Exercised	(468,000	)	1.60
Forfeited	(37,900	)	1.60
Outstanding as at December 31, 2011	1,728,500		$	1.90
Granted	50,000		2.05
Exercised	(317,600	)	1.60
Forfeited	(12,700	)	1.60
Outstanding as at December 31, 2012	1,448,200		$	2.02	$	1,617,138
Exercisable as at December 31, 2012	707,900		$	1.60	$	983,553