Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2012

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:



	Quarters Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
			(1)
Weighted average expected life (years)	6.0		—		6.0		8.4
Risk-free interest rate	0.96	%	—	%	0.96	%	3.32	%
Expected volatility	310.09	%	—	%	310.09	%	96.23	%
Expected dividend yield	—	%	—	%	—	%	—	%

__________________

(1) There were no option grants during this period.

Schedule of Stock Option Activity

A summary of stock option activity for the six months ended June 30, 2012 is as follows:



	Options		Weighted-Average Exercise Price per Share		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding on December 31, 2011	1,190,570		$	0.33
Granted	100,000		0.25
Exercised	—		—
Forfeited/canceled	(13,820	)	0.62
Outstanding on June 30, 2012	1,276,750		$	0.32	3.4	$	26,945
Exercisable on June 30, 2012	1,010,660		$	0.30	2.5	$	26,945

Schedule of Nonvested Share Activity

A summary of the status of the Company's non-vested stock options as of June 30, 2012 and changes during the six months then ended are presented below:



	Shares		Weighted-Average Grant Date Fair Value per Share
Non-vested stock options at December 31, 2011	179,910		$	0.44
Non-vested stock options granted	100,000		0.25
Vested stock options	—		—
Forfeited stock options	(13,820	)	0.59
Non-vested stock options at June 30, 2012	266,090		0.36