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Stock-Based Compensation Plans
3 Months Ended
May 31, 2012
Notes to Financial Statements  
Stock-Based Compensation Plans

Note 7 – Stock-Based Compensation Plans

 

We issue stock options to our employees, consultants and outside directors pursuant to stockholder-approved and non-approved stock option programs and record the applicable expense in accordance with the authoritative guidance of the Financial Accounting Standards Board. This expense is a non-cash expense and it derives from the issuance of stock options, stock purchase warrants and restricted stock (see Note 13). For the six-month periods ended May 31, 2012 and 2011, we recorded approximately $113,000 and $83,000, respectively, in stock-based compensation expense. For the three-month periods ended May 31, 2012 and 2011, we recorded approximately $61,000 and $41,000, respectively, in stock-based compensation expense. For the six-month periods ended May 31, 2012 and 2011, approximately $19,000 and $35,000 of the expense related to consultants. For the three-month periods ended May 31, 2012 and 2011, approximately $19,000 and $17,000 of the stock-based compensation expense related to consultants. As of May 31, 2012, there was approximately $89,000 of unrecognized employee stock-compensation expense for previously-granted unvested options that will be recognized over a three-year period.