Stock Based Compensation

3 Months Ended

Mar. 31, 2014

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

8. Stock Based Compensation

Stock-Option Plan

The Company has issued stock options as compensation for non-employee members of the Board of Directors under its 2006 Equity Incentive Plan.  These options vest immediately and are exercisable for a five-year period from the date of the grant.   

The following is a summary of the Company’s stock option activity.

					Weighted-
			Weighted-		Average
			Average		Remaining		Aggregate
			Exercise		Contractual		Intrinsic
	Options		Price		Life (Years)		Value
Outstanding at December 31, 2013		105,000	$	5.17		4.66	$	-
Granted		-						-
Exercised		-						-
Forfeited		-						-
Outstanding at March 31, 2014 (unaudited)		105,000	$	5.17		4.41	$	-
Vested and expected to vest at March 31, 2014		105,000	$	5.17		4.41	$	-
Exercisable at March 31, 2014		105,000	$	5.17		4.41	$	-

As of March 31, 2014, there were no unvested stock options or unrecognized stock option expense.

The following table summarizes information about stock options outstanding and exercisable at March 31, 2014.

			Options Outstanding						Options Exercisable
				Weighted		Weighted				Weighted
				Average		Average				Average
Exercise		Number		Remaining		Exercise		Number		Exercise
Price		of Shares		Life (Years)		Price		of Shares		Price
$	5.40		5,000		2.17	$	5.40		5,000	$	5.40
	5.16		100,000		4.52		5.16		100,000		5.16
			105,000						105,000