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Stock Based Compensation
3 Months Ended
Mar. 31, 2012
Stock Based Compensation

Note 8 – Stock Based Compensation

 

The Company’s stock option plan expired on July 13, 2010. The plan allowed the board to grant incentive stock options to officers and employees and non-qualified stock options to the directors, officers and employees. At March 31, 2012 and 2011, 12,402 and 13,628 options, respectively, were outstanding. All outstanding options are fully vested.

 

The most recent grant of options occurred in 2003. Thus, there was no stock-based compensation expense for the three months ended March 31, 2012 and 2011.