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EMPLOYEE STOCK PLANS
 6 Months Ended
Jun. 30, 2012
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 June 30, 2012 and changes during the period then ended is presented below:
                                                                                                                                                                
    Stock Options     Restricted Stock  
   
 
Options
    
Weighted
Average
Exercise Price
    
 
 Shares
  
Outstanding – March 31, 2012
     11,816,613     $ 0.52       4,874,256  
Exercisable – March 31, 2012
     5,839,013     $ 0.53       -  
Granted
     27,700,000     $ 0.26       1,866,986  
Exercised or Vested
     202,000     $ 0.54       (996,232 )
Forfeited or Expired
     (6,180,000 )   $ 0.49       ( - )
Outstanding – June 30, 2012
     33,336,613     $ 0.31       5,712,010  
Exercisable –  June 30, 2012
     5,761,013     $ 0.52       -  
 
The weighted-average grant-date calculated value of options granted during the period ended June 30, 2012 is not applicable.  Options outstanding at June 30, 2012 had an aggregate intrinsic value of $0 and a weighted-average remaining contractual term of 2.4 years. Options that were exercisable at June 30, 2012 had an aggregate intrinsic value of $-0- and a weighted-average remaining contractual term of 2.3 years.
 
A summary of the status of the Company’s nonvested options and restricted stock as of and for the Quarter Ended June 30, 2012 and March 31, 2012 is presented below:
            
    Stock Options                     
 
 
Nonvested Shares
  
 
 
 Options
    
Weighted-
Average Grant
Date.Calculated Value
    
 
Restricted
Stock
  
Nonvested - Beginning of Year 2012
     6,028,450     $ -       2,990,356  
Granted
      -     $ -       3,120,833  
Vested
     (49,600 )   $ -       (1,206,933 )  
Forfeited
     (1,250 )   $ -       ( 30,000 ) 
Nonvested–Quarter Ended March 31, 2012
     5,977,600     $ -       4,874,256  
Granted
     27,700,000     $ -       1,833,986  
Vested
     (202,000 )     $ -       (996,232 )  
Forfeited or cancelled
     (5,900,000 )     $ -       -  
Nonvested–Quarter Ended June 30, 2012
     27,575,600     $ -       5,712,010  
 
As of June 30, 2012, 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 5.9 months.