Annual report pursuant to section 13 and 15(d)

SHARE BASED COMPENSATION (Tables)

v2.4.0.8
SHARE BASED COMPENSATION (Tables)
 12 Months Ended
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:
 
Nonvested Restricted Stock
 
Number of
Restricted
Shares
 
Weighted
Average
Grant-Date
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 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
 
—
 
$
—
 
 
—
 
$
—