Stock Options (Tables)

6 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Changes in Options Outstanding

The following table summarizes the changes in the options outstanding at June 30, 2013, and the related prices for the shares of the Company’s common stock issued to employees of the Company under a non-qualified employee stock option plan.

Range of Exercise Prices	Number Outstanding		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Number Exercisable		Weighted Average Exercise Price
4.50		195,000	$	4.50		3.34		195,000	$	4.50
		195,000				3.34		195,000

Summary of Stock Awards for Options

A summary of the Company’s stock awards for options as of June 30, 2013 and changes for the six months ended June 30, 2013 is presented below:

	Stock Options			Weighted Average Exercise Price
Outstanding, December 31, 2012		211,000		$	4.50
Granted		—			—
Exercised		—			—
Expired/Cancelled		(16,000	)		—
Outstanding, June 30, 2013		195,000		$	4.50
Exercisable, June 30, 2013		195,000		$	4.50

Weighted-Average Fair Value of Stock Options Granted to Employees

The weighted-average fair value of stock options granted to employees during the period ended June 30, 2013 and 2012 and the weighted-average significant assumptions used to determine those fair values, using a Black-Scholes-Merton (“Black-Scholes”) option pricing model are as follows:

	June 30, 2013			June 30, 2012
Significant assumptions (weighted-average):
Risk-free interest rate at grant date		-	%		0.78	%
Expected stock price volatility		-	%		139	%
Expected dividend payout		-			-
Expected option life (in years)		-			5.00-
Expected forfeiture rate		-	%		0	%
Fair value per share of options granted	$	-		$	3.96