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Note 5: Stock-based Compensation
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3 Months Ended | ||||||||||
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Dec. 31, 2012
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| Share-based Compensation [Abstract] | |||||||||||
| Note 5: Stock-based Compensation |
From time to time, the Company grants stock options and restricted stock awards to officers, directors, employees and consultants. These awards are valued based on the grant date fair value of the instruments, net of estimated forfeitures. The value of each award is amortized on a straight-line basis over the requisite service period.
Stock Options
The Company recognized compensation expense of $0 and $1,894 during the three months ended December 31, 2012 and 2011, respectively, related to stock option awards granted to certain employees and executives based on the grant date fair value of the awards, net of estimated forfeitures. The Company used the estimated forfeiture rate of awards of 50% based on actual forfeiture experience and other factors.
Restricted Stock Awards
The Company has previously granted shares of restricted stock to certain individuals. The following table sets forth changes in compensation-related restricted stock awards during the three months ended December 31, 2012:
Stock Awards Granted to Directors
In September 2011, in an effort to preserve cash, our Board, after consultation with the Compensation Committee, determined to compensate members of the Board for their monthly retainer and other services as directors and/or members of the Boards various standing committees through the award of shares of the Companys common stock under the Companys Amended and Restated 2003 Stock Plan (the 2003 Stock Plan). Under the terms of this arrangement, each non-employee director receives a monthly award of a number of fully vested shares of the Companys common stock equal to their monthly board of director fees divided by the closing market price of the Companys common stock on the grant date. An aggregate of 65,380 shares were issued to members of the Board of Directors pursuant to such arrangement. No restricted shares were issued to members of the Board during the quarter ended December 31, 2012. |