STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

STOCK-BASED COMPENSATION [Abstract]

Option activity

Option activity during 2012 and 2011 was as follows:

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value
Outstanding at December 31, 2010		1,813,998		$	6.57
Granted		106,250		$	15.60
Exercised		(39,458	)	$	4.60
Forfeited		(47,208	)	$	10.97
Outstanding at December 31, 2011		1,833,582		$	7.02
Granted (1)		609,475		$	1.63
Exercised		—		$	—
Forfeited		—		$	—
Outstanding at December 31, 2012		2,443,057		$	5.68		6.58	$	—

Share-based compensation expense

The following table reflects share-based compensation recorded by the Company for 2012 and 2011:

	2012			2011
Share-based compensation expense included in general and administrative expense	$	2,023,175		$	2,342,892
Earnings per share effect of share-based compensation expense	$	(0.05	)	$	(0.08	)