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v2.4.0.6
WARRANTS AND OPTIONS (Tables)
3 Months Ended
Sep. 30, 2012
Other Liabilities Disclosure [Abstract]  
Warrants outstanding

Exercise

Price

   

Number

Outstanding

   

Warrants Outstanding

Weighted Average

Remaining Contractual

Life (years)

   

Weighted

Average

Exercise price

   

Number

Exercisable

   

Warrants Exercisable

Weighted

Average

Exercise Price

 
$ 0.13       40,000       1.72     $ 0.13       40,000     $ 0.13  
  2.25       23,629       0.31       2.25       23,629       2.25  
          63,629                       63,629          
Transactions involving warrant issuance
   

Number of

Shares

   

Weighted

Average

Price Per Share

 
        Outstanding at December 31, 2010     95,029     $ 1.29  
        Issued            
        Exercised            
        Expired     (17,500 )     (2.00 )
        Outstanding at December 31, 2011     77,529     $ 1.11  
        Issued            
        Exercised            
        Expired     (13,900 )     (2.00 )
        Outstanding at September 30, 2012     63,629     $ 0.92  
Employee options outstanding
      Options Outstanding     Options Exercisable  

Exercise

Prices (S)

   

Number

Outstanding

   

Weighted Average

Remaining

Contractual Life

(Years)

   

Weighted

Average

Exercise

Price (S)

   

Number

Exercisable

   

Weighted

Average

Exercise

Price

 
$ 0.13       80,000       6.72     $ 0.13       80,000     $ 0.13  
  0.15       400,000       1.72       0.15       400,000       0.15  
  0.80       85,000       8.45       0.80       31,875       0.80  
  1.00       846,875       4.02       1.00       761,875       1.00  
  1.11       200,000       8.25       1.11       83,333       1.11  
  2.25       167,696       5.65       2.25       167,696       2.25  
          1,779,571              $ 0.89       1,524,779      $ 0.87  
Transactions invloving employee stock options issued
    Number of Shares    

Weighted Average

Price Per Share

 
        Outstanding at December 31, 2010:     1,481,571     $ 0.86  
        Granted     285,000       1.02  
        Exercised            
        Canceled or expired     (72,000 )     (0.86 )
        Outstanding at December 31, 2011     1,694,571     $ 0.88  
        Granted     85,000       1.00  
        Exercised            
        Expired            
        Outstanding at September 30, 2012:     1,779,571     $ 0.89  
Fair value of stock options granted
Significant assumptions:      
        Risk-free interest rate at grant date     1.54 %
        Expected stock price volatility     157.05 %
        Expected dividend payout      
        Expected option life-years (a)     10  
Non-employee options outstanding
      Options Outstanding     Options Exercisable  

Exercise

Prices

   

Number

Outstanding

   

Weighted Average

Remaining

Contractual Life

(Years)

   

Weighted

Average

Exercise

Price

   

Number

Exercisable

   

Weighted

Average

Exercise

Price

 
 $ 1.00       110,000       3.45      $ 1.00       110,000      $ 1.00  
  1.40       105,000       6.48       1.40       105,000       1.40  
          215,000              $ 1.20       215,000      $ 1.20  
Transactions involving non-employee stock options issued
    Number of Shares    

Weighted Average

Price Per Share

 
       Outstanding at December 31, 2010:     375,000     $ 0.90  
       Granted            
       Exercised            
       Expired     (120,000 )     (0.50 )
       Outstanding at December 31, 2011     255,000     $ 1.09  
       Granted            
       Exercised            
       Expired     (40,000     (0.50 )
       Outstanding at September 30, 2012:     215,000     $ 1.20