Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY AND STOCK COMPENSATION (Tables)

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STOCKHOLDERS' EQUITY AND STOCK COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
Schedule Of Share-Based Compensation, Terms Of Grant Of Stock Options [Table Text Block]

Presented below is a summary of the terms of the grant of options:

 

    Year Ended December 31,  
    2012     2011     2010  
Number of options granted     15,000       220,000       982,000  
Vesting period     3 years       4 years       3-6 years  
Maximum term of option from date of grant     7 years       7 years       7 years  
Exercise price per share   $ 1.36     $ 0.87 - $1.17     $ 1.00  
Weighted average fair value per share of options granted during the year   $ 0.85     $ 0.58     $ 0.65  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Presented below is a summary of assumptions used in determining the fair value of the stock options at the date of grant:

 

    Year Ended December 31,  
    2012     2011     2010  
Expected option life     4.5 years       4.75 years       4.5 - 6.5 years  
Weighted average risk free rate     0.75 %     1.28 %     2.10 %
Dividend yield     0 %     0 %     0 %
Expected volatility     83.06 %     75.84% - 78.62 %     72.17% - 77.63 %
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the status of our stock options granted to both employees and non-employees as of December 31, 2012, 2011 and 2010 and changes during the years then ended is presented below (in thousands, except per share data):

 

    Year Ended December 31,  
    2012     2011     2010  
          Weighted Average           Weighted Average           Weighted Average  
    Shares     Exercise Price     Shares     Exercise Price     Shares     Exercise Price  
Options outstanding - beginning of year     1,333     $ 1.88       1,300     $ 2.99       1,488     $ 8.64  
Granted     15       1.36       220       1.10       982       1.00  
Exercised     -       -       -       -       (131 )     1.02  
Cancelled     (41 )     8.11       (187 )     8.67       (1,039 )     9.45  
Options outstanding - end of year     1,307     $ 1.72       1,333     $ 1.88       1,300     $ 2.99  
                                                 
Options granted and subject to future vesting     719     $ 1.01       957       1.02       937       1.00  
                                                 
Exercisable, at end of year     588               376               363          
Available for grant     -               14               818          
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

The following table summarizes information about stock options outstanding and stock options exercisable at December 31, 2012 (in thousands, except remaining life and per share data):

 

    Options Outstanding and Exercisable  
Range of
Exercise Prices		   Number
Outstanding		     Weighted Average
Remaining
Contractual Life		     Weighted Average
Exercise Price Per
Share		  
$0.87 - $1.36     488       5.6     $ 1.10  
$1.37 - $8.11     32       0.8     $ 8.11  
$8.12 - $9.50     41       1.8     $ 9.50  
$9.51 - $13.80     27       3.0     $ 13.80  
Total     588             $ 2.56