Stock-Based Compensation

9 Months Ended

Sep. 30, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

8.   Stock-Based Compensation

The Company recognizes compensation expense for all equity-based compensation awards issued to employees, directors and non-employees that are expected to vest.  Compensation cost is based on the fair value of awards as of the grant date.  The Company recognized $231,000 and $183,000 of stock-based compensation expense for the three months ended September 30, 2012 and 2011, respectively, under the fair value method and recognized $678,000 and $569,000 of stock-based compensation expense for the nine months ended September 30, 2012 and 2011, respectively.  The Company granted 0 and 152,870 stock options for the three and nine months ended September 30, 2012, respectively.  The fair value of the granted options at the grant date was $145,000.  The Company granted 60,000 and 102,000 stock options for the three and nine months ended September 30, 2011, respectively.  The fair value of the options granted for the three and nine months ended September 30, 2011 was $75,000 and $135,000, respectively.