EMPLOYEE STOCK PLANS

9 Months Ended

Sep. 30, 2011

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

EMPLOYEE STOCK PLANS

6. EMPLOYEE STOCK PLANS

A summary of activity under the Employee Stock Plans as of September 30, 2011 and changes during the period then ended is presented below:

	Stock Options					Restricted Stock
	Options			Weighted Average Exercise Price		Shares
Outstanding – June 30, 2011		5,933,872		$	0.54		2,772,055
Exercisable – June 30, 2011		5,854,872		$	0.51		-
Granted		4,709,930		$	0.50		1,045,378
Exercised or Vested		-			-		(1,009,602	)
Forfeited or Expired		(59,567	)	$	0.54		(47,500	)
Outstanding – September 30, 2011		10,584,235		$	0.52		,2,760,331
Exercisable – September 30, 2011		5,795,305		$	0.51		-

The weighted-average grant-date calculated value of options granted during the period ended September 30, 2011 is not applicable. Options outstanding at September 30, 2011 had an aggregate intrinsic value of $0 and a weighted-average remaining contractual term of 3.5 years. Options that were exercisable at September 30, 2011 had an aggregate intrinsic value of $-0- and a weighted-average remaining contractual term of 3.5 years.

A summary of the status of the Company’s nonvested options and restricted stock as of and for the Quarters Ended September 30, 2011 and March 31, 2011 is presented below:

	Stock Options
Nonvested Shares	Options			Weighted- Average Grant Date.Calculated Value		Restricted Stock
Nonvested - Beginning of Year 2011		153,600		$	-		8,354,801
Granted		-		$	-		738,434
Vested		(41,400	)	$	-		(3,160,687	)
Forfeited		(29,600	)	$	-		( -	)
Nonvested–Quarter Ended March 31, 2011		82,600		$	-		5,932,548
Granted		200,000		$	-		615,714
Vested		(200,000	)	$	-		(3,711,207	)
Forfeited		(3,600	)	$	-		( 65,000	)
Nonvested–Quarter Ended June 30, 2011		79,000		$	-		2,772,055
Granted		4,709,930		$	-		1,045,378
Vested		-		$	-		(1,009,602	)
Forfeited		-		$	-		(47,500	)
Nonvested-Quarter ended Sept 30, 2011		4,788,930		$	-		2,760,331

As of September 30, 2011, there was $-0- unrecognized compensation cost related to nonvested share-based compensation arrangements under the stock bonus plan. The weighted-average remaining vesting period is 6 months.