Note 2. - Stock-based Compensation Plan
3 Months Ended
Sep. 30, 2012
Notes  
Note 2. - Stock-based Compensation Plan

Note 2. - Stock-Based Compensation Plan

 

The Company recognizes the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards at the date of grant.

There were no stock options granted and no stock-based compensation expense was recognized during the three and six month period ended September 30, 2012. 

 

The following summarizes the stock option activity for the six months ended September 30, 2012:

 

 

 

 

 

 

Weighted

Intrinsic

 

Weighted

Average

Value of

 

Average

Remaining

Unexercised

 

Exercise

Contractual

In-the-Money

 

Shares

 

Price

Term

Options

 

 

 

 

 

 

Options outstanding, March 31, 2012

243,900

 

$9.23

 

 

Granted

---

 

---

 

 

Exercised

---

 

---

 

 

Forfeited

6,000

 

10.01

 

 

Options outstanding September 30, 2012

237,900

 

9.21

2.6

 

Options exercisable, September 30, 2012

237,900

 

$9.21

2.6

---

 

 

There were no options exercised during the six months ended September 30, 2012.