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Stock-Based Compensation
6 Months Ended
Jun. 30, 2011
Stock-Based Compensation  
Stock-Based Compensation
3. Stock-Based Compensation
We measure stock-based compensation expense based on the grant date fair value of the awards, which is then recognized over the period which service is required to be provided. We estimate the value of our stock option awards on the date of grant using the Black-Scholes option pricing model and amortize that cost over the expected term of the grant. We recognized $37,963 and $112,746 in stock-based compensation expense for the three months ended June 30, 2011 and 2010, respectively. We recognized $103,580 and $244,590 in stock-based compensation expense for the six months ended June 30, 2011 and 2010, respectively. We expect to recognize the compensation cost related to non-vested options as of June 30, 2011 of $230,624 over the weighted average remaining recognition period of 1.16 years.
We did not grant any stock options during the six months ended June 30, 2011 or 2010.