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Stock Options
3 Months Ended
Mar. 31, 2013
Stock Options [Abstract]  
Stock Options [Text Block]

8. Stock Options

 

In connection with the November 8, 2011 Strategic Transactions the Company issued 740,000 options at an exercise price of $1.25. A total of 148,000 shares vest six months after the grant date. At March 31, 2013, the aggregate intrinsic value was $0. The remaining options vest upon the achievement of performance milestones. Options vesting on the achievement of performance milestones will not be recognized as compensation until such milestones are deemed probable of achievement. For the quarters ended March 31, 2013 and 2012 compensation expense was $0 and $74,000, respectively. The Company has approximately $592,000 of unrecognized compensation expense related to unvested share-based compensation awards, which will vest upon the achievement of performance milestones.