Stock Options

9 Months Ended

Sep. 30, 2011

STOCK OPTIONS [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

STOCK OPTIONS

In accordance with ASC 718, the Company had no stock option expense for the three months ended September 30, 2011 and $8,522 for the same period in 2010 and stock option expense for the nine months ended September 30, 2011 and 2010 was $17,043 and $34,054, respectively. The Company uses the Black-Scholes option-pricing model to measure the fair value of stock options granted to employees.The Company did not issue any stock options for the nine months ended September 30, 2011.

The following table summarized options outstanding at September 30, 2011

	Number of Shares		Weighted Average Exercise Price
Balance, December 31, 2010	587,965		$	1.59
Granted	—		—
Forfeited	—		—
Exercised	(122,000	)	(0.86		)
Outstanding options at end of quarter	465,965		1.78
Outstanding exercisable options at end of quarter	465,965		1.78

The intrinsic value of outstanding and exercisable options at September 30, 2011 was approximately $119,000 .