Stock Options

6 Months Ended

Jun. 30, 2011

Stock Options

In 1995, the Company adopted a stock option plan (the “Plan”) pursuant to which the Company’s Board of Directors may grant stock options to directors, officers and employees. The Plan which was approved by the stockholders authorizes grants of options to purchase authorized but un-issued common stock up to 10% of total common shares outstanding at each calendar quarter, 4,876,339 as of March 31, 2007. Stock options were granted under the Plan with an exercise price equal to the stock’s fair market value at the date of grant. Outstanding stock options under the Plan have five-year terms and vest and become fully exercisable up to three years from the date of grant. The Plan expired in February 2005. To date, the Company has not adopted a new stock option plan.

		Weighted Average
	Exercisable	Number	Exercise Price
2008
Options granted	0	0	$                           --
Options exercised	0	0	$                           --
Options forfeited/expired	(55,000)	(55,000)	$                        .60
Options outstanding at December 31, 2008	60,000	60,000	$                        .98
2009
Options granted	0	0	$                           --
Options exercised	0	0	$                           --
Options forfeited/expired	(10,000)	(10,000)	$                        .60
Options outstanding at December 31, 2009	50,000	50,000	$                      1.00
2010
Options granted	0	0	$                           --
Options exercised	0	0	$                           --
Options forfeited/expired	(50,000)	(50,000)	$                           --
Options outstanding at December 31, 2010	0	0	$                           0

At June 30, 2011 and 2010, there were no additional shares available for grant under the Plan, since the Plan had expired in 2005.

At June 30, 2011 and June 30, 2010, the number of options exercisable and fully vested was 0. The weighted-average exercise price of those options was $1.00; the weighted average remaining contractual term was less than 1 year; and the aggregate intrinsic value was zero per share. There were no warrants outstanding at June 30, 2011 or 2010.