Quarterly report pursuant to sections 13 or 15(d)

Stock Plans and Non-Qualified Option Agreement (Tables)

Stock Plans and Non-Qualified Option Agreement (Tables)

3 Months Ended

Mar. 31, 2014

Stock Plans and Non-Qualified Option Agreement [Abstract]

The summary of the Company’s total Stock Plans and a Non-Qualified Stock Option Agreement (which was forfeited in second quarter of 2013) as of March 31, 2014, as compared to March 31, 2013, and changes during the periods then ended, are presented below. The Company’s Plans consist of the 1993 Non-Qualified Stock Option Plan (last options expired February 2013), the 2004 and 2010 Stock Option Plans, and the 2003 Outside Directors Stock Plans:

						Weighted Average		Aggregate
				Weighted Average		Remaining		Intrinsic
	Shares			Exercise Price		Contractual Term		Value
Options outstanding January 1, 2014		362,800		$	9.53
Granted		─			─
Exercised		─			─			$	─
Forfeited		(22,000	)		8.17
Options outstanding End of Period ⁽²⁾		340,800			9.62		2.7	$	47,790
Options Exercisable at March 31, 2014⁽²⁾		334,800		$	9.73		2.6	$	37,710
Options Vested and expected to be vested at March 31, 2014		340,800		$	9.62		2.7	$	47,790

						Weighted Average			Aggregate
				Weighted Average		Remaining			Intrinsic
	Shares			Exercise Price		Contractual Term			Value
Options outstanding January 1, 2013		528,800		$	9.82
Granted	─			─
Exercised	─			─				$	─
Forfeited		(82,000	)		10.86
Options outstanding End of Period ⁽¹⁾		446,800			9.63		3.8	$	─
Options Exercisable at March 31, 2013⁽¹⁾		369,300		$	10.12		3.3	$	─
Options Vested and expected to be vested at March 31, 2013		446,800		$	9.63		3.8	$	─

⁽¹⁾	Options with exercise prices ranging from $5.50 to $14.75

⁽²⁾	Options with exercise prices ranging from $2.79 to $14.75