Note 18 - Shareholders' Equity

12 Months Ended

Dec. 31, 2011

Stockholders' Equity Note Disclosure [Text Block]

NOTE 18 - SHAREHOLDERS’ EQUITY:

During 2011, 2010 and 2009, we issued approximately 122,000, 168,000, and 142,000 shares, respectively, of restricted common stock as deferred compensation to several of our officers and directors with an aggregate value of $1,060,000, $1,341,000 and $978,000 respectively. These shares were valued at their fair value on the date of grant, and are amortized to expense over their vesting period, which approximates the service period.

During 2010 we issued approximately 81,000 incentive stock options to certain members of our management team. These options have a ten year life, vest over four years and had a fair value at date of grant of approximately $311,000.

During 2010, we amended our Certificate of Incorporation, increasing the number of authorized common shares from 15,000,000 to 20,000,000, as approved by shareholder vote.

Our Board of Directors has authorized the retirement of common stock held as Treasury Shares on a periodic basis. As such we retired approximately 84,000 shares of Treasury Stock during the year ended December 31, 2010.  As of December 31, 2011 there were 37,208 shares of common stock held as Treasury shares.