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SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2013
Share-Based Compensation [Abstract]  
Movements of Options Issued and Outstanding

Options issued and outstanding at March 31, 2013 and their movements during the three months then ended 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, 2013     715,000     $ 5.25     $ 65,700       8.47  
Granted     -                          
Exercised     -                          
Expired     -                          
Forfeited     -                          
Outstanding at March 31, 2013     715,000     $ 5.25     $ 375,900       8.22  
Exercisable at March 31, 2013     430,000     $ 5.71     $ 208,500       7.98  

 

(1) The intrinsic value of the stock options at March 31, 2013 and December 31, 2012 is the amount by which the market value of the Company’s common stock of $5.12 and $4.39, as of March 31, 2013 and December 31, 2012, respectively, exceeds the exercise price of the option.