SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 17 — SUBSEQUENT EVENTS

At the annual meeting of shareholders on July 16, 2013, among other proposals, a new Board was elected and the Company’s request to increase the authorized common share count from 190,000,000 to 665,000,000 was approved. With the seating of the new Board on July 16, 2013, 182,927 shares of restricted common stock granted to an outgoing Board member in January 2013 vested in full. Also on July 16, 2013, the Board reappointed Craig Bouchard as the Company’s Chairman of the Board and reaffirmed his title of Chief Executive Officer, positions he previously assumed on June 5, 2013.

On July 26, 2013, the Company filed its Amended and Restated Articles of Incorporation with the State of Nevada, reflecting the change in authorized share count.

On August 8, 2013, 24,805 shares of restricted common stock were granted to each of the two new members elected to the Board at the 2013 Annual Meeting. The shares were granted under the Incentive Plan and the Director Compensation Program, and had an aggregate grant date fair value of the awards was $69 thousand.