Employee Stock Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2014

Employee Stock Benefit Plans [Abstract]

Stock option activity under all of the Company’s share-based compensation plans for the nine months ended September 30, 2014 was as follows:

	Number of Options			Weighted Average Exercise Price
Outstanding, January 1, 2014		1,132,678		$	16.51
Granted		180,500			14.11
Exercised		-			-
Cancelled		(4,999	)		58.63
Outstanding, September 30, 2014		1,308,179		$	16.02
Options exercisable at September 30, 2014		517,179		$	16.45

Weighted Average Assumptions Used to Estimate Fair Value of Stock Options

The Company uses the Black-Scholes option-pricing model to estimate fair value of grants of stock options with the following weighted-average assumptions:

	Nine Months Ended September 30, 2014
Risk-free interest rate		2.17%
Volatility		78.41%
Expected dividend yield		0%
Expected life	5.5 years
Estimated forfeiture rate		0%