Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note [Abstract]

Option activity for the years ended December 31, 2012 and 2011 was as follows:

	Shares Subject to Options			Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value (in millions)

Outstanding, January 1, 2011		7,365,000		$	.67		2.1	$	-
Forfeited / Expired		(392,000	)		.89
Exercised		(1,362,000	)		.46
Granted		3,425,000			.74

Outstanding, December 31, 2011		9,036,000		$	.72		3.2	$	1.4
Forfeited / Expired		(1,630,000	)		1.08
Exercised		(425,000	)		.46
Granted		150,000			.88

Outstanding December 31, 2012		7,131,000		$	.65		3.1	$	2.0
Exercisable, December 31, 2012		3,402,000		$	.66		2.1	$	1.0

Additional Information Regarding Options Outstanding

Additional information regarding options outstanding as of December 31, 2012 is as follows:

		Options outstanding						Options exercisable
Range of exercise prices		Shares		Weighted average remaining contractual life (years)		Weighted average exercise price		Shares		Weighted average exercise price

$	.05 - .20		108,000		.4	$	.17		108,000	$	.17
	.24 - .65		2,739,000		2.5		.41		1,650,000		.39
	.67 - .88		3,750,000		4.0		.77		1,110,000		.86
	1.00 – 1.48		534,000		.1		1.16		534,000		1.16
$	.05 – 1.48		7,131,000		3.1	$	.65		3,402,000	$	.66

Summary of Weighted Average Grant-Date Fair Value of Options Granted

Weighted average grant-date fair value of options granted:

2012		$	.88
2011		$	.74

Weighted Average Assumptions Using Black-Scholes Option Pricing Model

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions by grant year.

	2012			2011

Risk-free interest rate		.5	%		.5	%
Expected dividend yield		0	%		0	%
Expected volatility factor		15.90	%		15.10	%
Expected option term, in years		6.00			6.00

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References+ Details

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