General form of registration statement for all companies including face-amount certificate companies

STOCK OPTIONS (Tables)

v2.4.0.6
STOCK OPTIONS (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2013
Dec. 31, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]    
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]  
Following is a summary of activity for the year ended December 31, 2011, with respect to restricted stock granted under the 2010 Plan:

 

          Weighted  
    Number of     Average  
    Restricted     Grant-Date  
Nonvested Restricted Stock   Shares     Fair Value  
Nonvested at December 31, 2010     84,893     $ 4.60  
Granted     18,436     $ 4.60  
Vested prior to Share Exchange     (28,243 )   $ 4.60  
Vested pursuant to Share Exchange     (69,849 )   $ 4.60  
Forfeited     (5,237 )   $ 4.60  
Nonvested at December 31, 2011     0     $ 0
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The assumptions used in the valuation of stock options granted during the three months ended March 31, 2013 were as follows:

 

Risk-free interest rate     2.02 %
Expected term of option     6.0 years  
Expected stock price volatility     99.96 %
Expected dividend yield   $ 0.0  

The assumptions used in the valuation of stock options granted during the year ended December 31, 2012 were as follows:

 

Risk-free interest rate     1.87 %
Expected term of option     6.5 years  
Expected stock price volatility     95.89 %
Expected dividend yield   $ 0.0  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]  

A summary of the stock options activity and related information for the 2012 Incentive Stock Option Plan for the year ended December 31, 2012 is as follows:

 

    Shares     Weighted-Average
Exercise Price
    Weighted-Average
Remaining
Contractual Term
    Aggregate Intrinsic
Value
 
Outstanding at January 1, 2012     -                          
Grants     175,000     $ 30.00       10.00     $ -  
Exercised     -                          
Forfeitures or expirations     (25,000 )     30.00                  
Outstanding at December 31, 2012     150,000     $ 30.00       9.35     $ -  
                                 
Vested and expected to vest at December 31, 2012     150,000     $ 30.00       9.35     $ -  
Exercisable at December 31, 2012     -     $ -       -     $ -