Stock Option Plans (Tables)

12 Months Ended

Dec. 31, 2012

Stock Option Plans

Schedule of compensation cost for share-based compensation plans

The following amounts were recognized in our Consolidated Statements of Operations for share-based compensation plans for the years ended December 31 (dollar amounts in thousands):

	2012		2011		2010
Compensation cost:
Stock options	$	594	$	1,142	$	1,281
Restricted stock	684		476		481
Total share-based compensation expense	$	1,278	$	1,618	$	1,762

Schedule of weighted average fair value of options granted and assumptions used in Black-Scholes-Merton

	2012		2011		2010
Weighted average fair value of options granted	$	1.01	$	3.32	$	4.23
Dividend yield	0.0%		0.0%		0.0%
Weighted average risk-free interest	3.5%		4.0%		4.2%
Weighted average expected volatility	105.0%		94.0%		93.0%
Weighted average expected life – employee	5.50 years		5.50 years		5.25 years
Weighted average expected life – officers	6.00 years		6.00 years		5.75 years
Weighted average expected life – non-employee director	8.25 years		8.25 years		8.00 years

Summary of the stock option activity

				Weighted
		Weighted		Average
		Average		Remaining	Aggregate
		Exercise		Term	Intrinsic
	Options	Price		in Years	Value
Outstanding, December 31, 2009	1,682,300	$	14.48
Granted	391,500	5.50
Exercised	(17,000)	2.65
Forfeited/canceled	(394,050)	16.59
Outstanding, December 31, 2010	1,662,750	11.99
Granted	247,500	4.23
Exercised	(13,000)	0.70
Forfeited/canceled	(339,325)	17.28
Outstanding, December 31, 2011	1,557,925	9.70
Granted	767,500	1.25
Exercised	(14,875)	0.70
Forfeited/canceled	(285,175)	10.93
Outstanding, December 31, 2012	2,025,375	$	6.39	6.4	$	-
Options exercisable, December 31, 2012	1,113,670	$	10.15	4.2	$	-

Schedule of compensation cost related to restricted stock

We recorded the following amounts in our Consolidated Statements of Operations related to restricted stock for the years ended December 31 (dollar amounts in thousands):

	2012		2011		2010
Compensation cost – restricted stock:
Time-based vesting	$	684	$	476	$	481
Performance-based vesting	-		-		-
Total share-based compensation expense – restricted stock	$	684	$	476	$	481

Summary of the status of restricted stock

	Time-Based			Performance-Based
		Weighted			Weighted
		Average			Average
	Restricted	Grant-date		Restricted	Grant-date
	Stock	Fair Value		Stock	Fair Value
Outstanding, beginning of period	141,000	$	5.12	625	$	31.10
Granted	897,600	0.96		-	-
Vested	(243,800)	2.92		-	-
Forfeited/canceled	(585,850)	0.46		-	-
Outstanding, end of period	208,950	$	2.87	625	$	31.10

Schedule of unrecorded compensation costs related to awards issued under share-based compensation plans

As of December 31, 2012, unrecorded compensation costs related to awards issued under our various share-based compensation plans were as follows (dollar amounts in thousands):

			Weighted average
	December 31,		recognition period
	2012		(months)
Unrecognized compensation cost:
Stock options, net of expected forfeitures	$	852	28.9
Restricted stock - time-based vesting	297		13.2
Restricted stock - performance-based vesting	-		-
Total unrecognized compensation cost	$	1,149