SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2012

Share-Based Compensation [Abstract]

Movements of Options Issued and Outstanding

Options issued and outstanding at December 31, 2012, 2011, and 2010and their movements during the three years are as follows:

	Number of underlying shares			Weighted- Average Exercise Price Per Share		Aggregate Intrinsic Value (1)		Weighted- Average Contractual Life Remaining in Years
Outstanding at January 1, 2010		65,000		$	4.06	$	415,450		9.20
Granted		60,000			8.49		-		10.00
Exercised		-
Expired		-
Forfeited		(10,000	)		2.20
Outstanding at December 31, 2010		115,000		$	6.74	$	517,450		9.00
Granted		600,000			4.85		-		10.00
Exercised		-
Expired		-
Forfeited		-
Outstanding at December 31, 2011		715,000		$	5.16	$	213,300		9.43
Granted		60,000			5.63		-		10.00
Exercised		-
Expired		-
Forfeited		(60,000	)		4.50
Outstanding at December 31, 2012		715,000		$	5.25	$	65,700		8.47
Exercisable at December 31, 2012		415,000		$	5.71	$	65,700		8.18

· The intrinsic value of the stock options at December 31, 2012, 2011 and 2010 is the amount by which the market value of the Company’s common stock of $4.39, $4.76 and $11.24 as of December 31, 2012, 2011 and 2010 exceeds the exercise price of the option.