Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

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Related Party Transactions
9 Months Ended
Sep. 30, 2011
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE G — RELATED PARTY TRANSACTIONS

Consulting Agreements

During the three and nine months ended September 30, 2011 Steven C. Jones, a director of the Company, earned approximately $50,000 and $151,000, respectively, for various consulting work performed in connection with his duties as Executive Vice President of Finance. Mr. Jones earned approximately $45,000 and $147,350, respectively for the three and nine months ended September 30, 2010.

During May 2010 Mr. Jones received 450,000 warrants as described in more detail in Note L of our Annual Report on Form 10-K as filed with the Securities and Exchange Commission on February 23, 2011 and as such we recorded $9,400 and $32,900, respectively, in stock compensation expense for these warrants for the three and nine months ended September 30, 2011. During the three and nine months ended September 30, 2010 we recorded $28,092 and $123,735, respectively of stock compensation expense for these warrants.