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## NOTES TO FINANCIAL STATEMENTS 

## 11. SHARE-BASED COMPENSATION  (Continued) 

## Stock Option Awards (Continued) 

A summary of option activity under the Plan for the years ended December 31, 2011 and 2010 is presented below: 

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As of December 31, 2011, the unrecognized compensation cost related to non-vested stock option awards totaled $400,440. That cost is expected to be amortized on a straight-line basis over a weighted average period of 0.91 years and will be adjusted for subsequent changes in estimated forfeitures. 

At December 31, 2011, there was no intrinsic value associated with outstanding stock option awards. 

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