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	<us-gaap:PensionAndOtherPostretirementBenefitExpense contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">151775</us-gaap:PensionAndOtherPostretirementBenefitExpense>
	<us-gaap:ShareBasedCompensation contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">29898</us-gaap:ShareBasedCompensation>
	<us-gaap:ShareBasedCompensation contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">59685</us-gaap:ShareBasedCompensation>
	<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-99424</us-gaap:IncreaseDecreaseInAccountsReceivable>
	<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">-665732</us-gaap:IncreaseDecreaseInAccountsReceivable>
	<us-gaap:IncreaseDecreaseInInventories contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">216331</us-gaap:IncreaseDecreaseInInventories>
	<us-gaap:IncreaseDecreaseInInventories contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">222670</us-gaap:IncreaseDecreaseInInventories>
	<us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">87391</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
	<us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">-68054</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
	<inrd:IncreaseDecreaseInAccountsPayableAndAccruedLiabliliteisExcludingAccruedInterest contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-61046</inrd:IncreaseDecreaseInAccountsPayableAndAccruedLiabliliteisExcludingAccruedInterest>

	<inrd:IncreaseDecreaseInAccountsPayableAndAccruedLiabliliteisExcludingAccruedInterest contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">-113408</inrd:IncreaseDecreaseInAccountsPayableAndAccruedLiabliliteisExcludingAccruedInterest>

	<us-gaap:IncreaseDecreaseInCustomerAdvances contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-130663</us-gaap:IncreaseDecreaseInCustomerAdvances>
	<us-gaap:IncreaseDecreaseInCustomerAdvances contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">-25319</us-gaap:IncreaseDecreaseInCustomerAdvances>
	<inrd:IncreaseDecreaseInAccruedInterestOnRelatedPartyConvertibleNotesPayable contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-300000</inrd:IncreaseDecreaseInAccruedInterestOnRelatedPartyConvertibleNotesPayable>

	<inrd:IncreaseDecreaseInAccruedInterestOnRelatedPartyConvertibleNotesPayable contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">0</inrd:IncreaseDecreaseInAccruedInterestOnRelatedPartyConvertibleNotesPayable>

	<us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-318167</us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities>
	<us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">744458</us-gaap:AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities>
	<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-283438</us-gaap:NetCashProvidedByUsedInOperatingActivities>
	<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">595499</us-gaap:NetCashProvidedByUsedInOperatingActivities>
	<us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">6000</us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>
	<us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">0</us-gaap:ProceedsFromSaleOfPropertyPlantAndEquipment>
	<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-16153</us-gaap:NetCashProvidedByUsedInInvestingActivities>
	<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">-125482</us-gaap:NetCashProvidedByUsedInInvestingActivities>
	<us-gaap:RepaymentsOfLongTermDebt contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">2372</us-gaap:RepaymentsOfLongTermDebt>
	<us-gaap:RepaymentsOfLongTermDebt contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">2428</us-gaap:RepaymentsOfLongTermDebt>
	<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-2742</us-gaap:NetCashProvidedByUsedInFinancingActivities>
	<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">-1078</us-gaap:NetCashProvidedByUsedInFinancingActivities>
	<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">-302333</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
	<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">468939</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
	<us-gaap:InterestPaid contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">341000</us-gaap:InterestPaid>
	<us-gaap:InterestPaid contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">41000</us-gaap:InterestPaid>
	<us-gaap:IncomeTaxesPaidNet contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">0</us-gaap:IncomeTaxesPaidNet>
	<us-gaap:IncomeTaxesPaidNet contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">5000</us-gaap:IncomeTaxesPaidNet>
	<us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="Context_3ME_31-Mar-2012">&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&lt;font style="text-underline-style: none;"&gt;NOTE 2- EQUITY COMPENSATION PROGRAM AND STOCK BASED COMPENSATION&lt;br /&gt;&lt;/font&gt;&amp;#160;&lt;/p&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: bold 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;a)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;Stock Option Expense&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;The Company's results of operations for the three months ended March 31, 2012 and 2011 include stock-based compensation expense for stock option grants totaling $58,473 and $28,623, respectively. Such amounts have been included in the accompanying Condensed Consolidated Statements of Operations within cost of goods sold in the amount of $25,876 ($10,542 for 2011), and selling, general and administrative expenses in the amount of $32,597 ($18,081 for 2011).&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;As of March 31, 2012 and 2011, there were $323,755 and $371,184 of unrecognized compensation costs, net of estimated forfeitures, related to non-vested stock options, which are expected to be recognized over a weighted average period of approximately 2.2 years and 3.0 years, respectively.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;There were no stock options granted during the three months ended March 31, 2012. The following range of weighted-average assumptions were used to determine the fair value of stock option grants during the three months ended March 31, 2011:&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 80%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center;" colspan="6"&gt;Three&amp;#160;Months&amp;#160;Ended&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-weight: bold; text-align: center;" colspan="6"&gt;March&amp;#160;31,&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-weight: bold; text-align: center;" colspan="2"&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-weight: bold; text-align: center;" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold; text-align: center;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="width: 70%; text-align: left;"&gt;Expected Dividend yield&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;&amp;#8212;&lt;font style="font-family: times new roman, times, serif;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;0.00&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left;"&gt;Expected Volatility&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;font style="font-family: times new roman, times, serif;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;99&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left;"&gt;Risk-free interest rate&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;font style="font-family: times new roman, times, serif;"&gt;%&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;3.4&lt;/td&gt;
&lt;td style="text-align: left;"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left;"&gt;Expected term&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;8 -10 years&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: bold 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;b)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;Stock Option Activity&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;The following table represents stock options granted, exercised and forfeited during the three month period ended March 31, 2012:&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&lt;/p&gt;
&lt;table align="center" style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;Stock&amp;#160;Options&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3"&gt;Number&amp;#160;of&lt;br /&gt;Options&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom:
 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3"&gt;Weighted&lt;br /&gt;Average&amp;#160;&lt;br /&gt;Exercise&amp;#160;&lt;br /&gt;Price&amp;#160;per&amp;#160;Option&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3"&gt;Weighted&lt;br /&gt;Average&amp;#160;&lt;br /&gt;Remaining&amp;#160;&lt;br /&gt;Contractual&lt;br /&gt;Term&amp;#160;(years)&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3"&gt;Aggregate&lt;br /&gt;Intrinsic&amp;#160;Value&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="width: 40%; text-indent: 0in;"&gt;Outstanding at January 1, 2012&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;1,079,676&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;1.02&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;6.7&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;63,105&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 0in;"&gt;Granted&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-indent: 0in;"&gt;Exercised&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(2,700&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.50&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="padding-bottom: 1pt; text-indent: 0in;"&gt;Expired/Forfeited&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;(68,242&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;1.09&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 1pt; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-size: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-size: 1pt; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-size: 1pt; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-size: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-size: 1pt; text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-size: 1pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="padding-bottom: 2.5pt; text-indent: 0in;"&gt;Outstanding at March 31, 2012&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1,008,734&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1.01&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;7.1&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;61,890&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-indent: 0in;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="padding-bottom: 2.5pt; text-indent: 0in;"&gt;Exercisable at March 31, 2012&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;609,334&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;1.04&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double;
 text-align: right;"&gt;5.6&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;61,890&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0 0pt 0.25in; text-align: justify;"&gt;The following table represents non-vested stock options granted, vested and forfeited for the three months ended March 31, 2012.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;table align="center" style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; text-align: left;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap"&gt;Options&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold; text-align: center;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; font-weight: bold; text-align: center;" colspan="2" nowrap="nowrap"&gt;Weighted-Average&amp;#160;Grant-Date&lt;br /&gt;Fair&amp;#160;Value&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold; text-align: center;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="width: 69%; text-align: left;"&gt;Non-vested&amp;#160; - January 1, 2012&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;501,590&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;0.92&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left;"&gt;Granted&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left;"&gt;Vested&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(101,523&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1.10&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left;"&gt;Forfeited&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;(667&lt;/td&gt;
&lt;td style="text-align: left;"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.89&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left;"&gt;Non-vested &amp;#8211; March 31, 2012&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;399,400&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.88&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;The total fair value of options vested during the three months ended March 31, 2012 and 2011 was $111,662 and $97,105, respectively.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="margin-top: 0pt; width: 100%; font: bold 10pt times new roman, times, serif; margin-bottom: 0pt;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: top;"&gt;
&lt;td style="width: 0;"&gt;&lt;/td&gt;
&lt;td style="width: 0.25in;"&gt;c)&lt;/td&gt;
&lt;td style="text-align: left;"&gt;Restricted Stock Unit Awards&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;There were no grants of restricted stock units granted under the 2010 Equity Compensation Program during the three months ended March 31, 2012.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;During the three months ended March 31, 2011 there were 15,000 restricted stock units granted under the 2010 Equity Compensation Program. These grants vest over a three year period at the rate of one-third per year, contingent on continued employment or service during the vesting period.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;The Company's results of operations for the three months ended March 31, 2012 and 2011 include stock-based compensation expense for restricted stock unit grants totaling $1,212 and $1,275, respectively, and such amounts have been included in the accompanying Consolidated Statements of Operations within selling, general and administrative expenses.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;A summary of the Company&amp;#8217;s non-vested restricted stock units at March 31, 2012 is presented below:&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&lt;font style="text-underline-style: none;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&lt;/p&gt;
&lt;table align="center" style="width: 90%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align:
 bottom;"&gt;
&lt;td style="font-weight: bold; text-align: left; padding-bottom: 1pt;" colspan="2" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"&gt;Restricted&amp;#160;Stock&amp;#160;Units&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="2" nowrap="nowrap"&gt;Weighted-Average&amp;#160;Grant-Date&lt;br /&gt;Fair&amp;#160;Value&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; padding-bottom: 1pt;" nowrap="nowrap"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="width: 69%; text-align: left;"&gt;Non-vested - January 1, 2012&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;15,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;0.97&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left;"&gt;Granted&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left;"&gt;Vested&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left;"&gt;Forfeited&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&amp;#8212;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left;"&gt;Non-vested &amp;#8211; March 31, 2012&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;15,000&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right;"&gt;0.97&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
	<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Context_3ME_31-Mar-2012">&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&lt;font style="text-underline-style: none;"&gt;NOTE 3- STOCKHOLDERS&amp;#8217; EQUITY&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;For the three months ended March 31, 2012, the Company issued 152,460 common shares to the Inrad Optics 401k plan as a match to employee contributions for 2011.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;In addition, 2,700 common shares were issued for proceeds of $1,350 in connection with the exercise of stock options during the three month period.&lt;/p&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
	<us-gaap:EarningsPerShareBasicAndDiluted contextRef="Context_3ME_31-Mar-2011" unitRef="USDPerShare" decimals="0">0</us-gaap:EarningsPerShareBasicAndDiluted>
	<us-gaap:EarningsPerShareBasicAndDiluted contextRef="Context_3ME_31-Mar-2012" unitRef="USDPerShare" decimals="2">-0.01</us-gaap:EarningsPerShareBasicAndDiluted>
	<us-gaap:PaymentsToAcquireProductiveAssets contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">22153</us-gaap:PaymentsToAcquireProductiveAssets>
	<us-gaap:PaymentsToAcquireProductiveAssets contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">125482</us-gaap:PaymentsToAcquireProductiveAssets>
	<us-gaap:ProceedsFromStockOptionsExercised contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">0</us-gaap:ProceedsFromStockOptionsExercised>
	<us-gaap:ProceedsFromStockOptionsExercised contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">1350</us-gaap:ProceedsFromStockOptionsExercised>
	<inrd:RedemptionOfRestrictedStockUnits contextRef="Context_3ME_31-Mar-2011" unitRef="USD" decimals="0">370</inrd:RedemptionOfRestrictedStockUnits>

	<inrd:RedemptionOfRestrictedStockUnits contextRef="Context_3ME_31-Mar-2012" unitRef="USD" decimals="0">0</inrd:RedemptionOfRestrictedStockUnits>

	<us-gaap:SignificantAccountingPoliciesTextBlock contextRef="Context_3ME_31-Mar-2012">&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&lt;font style="text-underline-style: none;"&gt;NOTE 1 &lt;font style="font-family: symbol;"&gt;-&lt;/font&gt;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Basis of Presentation&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;The accompanying unaudited condensed consolidated financial statements include the accounts of Inrad Optics, Inc. and its subsidiaries (collectively, the &amp;#8220;Company&amp;#8221;).&amp;#160; All significant intercompany balances and transactions have been eliminated.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (&amp;#8220;U.S. GAAP&amp;#8221;) for interim financial information and with the instructions to Form&amp;#160;10-Q and Rule&amp;#160;10-01 of Regulation S-X.&amp;#160; Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.&amp;#160; In the opinion of management, all adjustments of a normal recurring nature considered necessary for a fair presentation have been included.&amp;#160; The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the full fiscal year.&amp;#160; For further information, refer to the consolidated financial statements and accompanying footnotes included in the Company&amp;#8217;s Annual Report on Form&amp;#160;10-K for the year ended December 31, 2011.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;In preparing these consolidated financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the consolidated financial statements were issued.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&lt;b&gt;Management Estimates&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;These unaudited condensed financial statements and related disclosures have been prepared in conformity with U.S. GAAP which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses reported in those financial statements. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate.&amp;#160; As future events and their effects cannot be determined with precision, actual results could differ significantly from those estimates and assumptions.&amp;#160; Significant changes, if any, in those estimates resulting from continuing changes in the economic environment will be reflected in the consolidated financial statements in future periods.&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Inventories&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Inventories are stated at the lower of cost (first-in-first-out basis) or market. The Company records a reserve for slow moving inventory as a charge against earnings for all products identified as surplus, slow-moving or discontinued. Excess work-in-process costs are charged against earnings whenever estimated costs-of-completion exceed unbilled revenues.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Inventories are comprised of the following and are shown net of inventory reserves:&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom: black 1pt solid;" colspan="3"&gt;March 31, &lt;br /&gt;2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center; border-bottom: black 1pt solid;" colspan="3"&gt;December 31, &lt;br /&gt;2011&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: center;" colspan="7"&gt;(in thousands)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="width: 70%; text-align: left;"&gt;Raw materials&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;1,056&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;$&lt;/td&gt;
&lt;td style="width: 12%; text-align: right;"&gt;1,072&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left;"&gt;Work in process, including manufactured parts and components&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;1,102&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;984&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;Finished goods&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: black 1pt solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: black 1pt solid;"&gt;974&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: black 1pt solid;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: black 1pt solid;"&gt;854&lt;/td&gt;
&lt;td
 style="text-align: left; padding-bottom: 1pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: black 2.5pt double;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: black 2.5pt double;"&gt;3,132&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="text-align: left; border-bottom: black 2.5pt double;"&gt;$&lt;/td&gt;
&lt;td style="text-align: right; border-bottom: black 2.5pt double;"&gt;2,910&lt;/td&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt;"&gt;&amp;#160;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Income Taxes&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company&amp;#8217;s financial statements or tax returns. Deferred tax assets and liabilities are determined based on the difference between the financial statements carrying amounts and the tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;For the three months ended March 31, 2012 and 2011, the Company did not record a current provision for either state or federal income tax due to the losses incurred for both income tax and financial reporting purposes or the availability of net operating loss carry-forwards to offset against federal and state income tax.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;As of March 31, 2012, the Company has recognized a net deferred tax asset balance in the amount of $408,000, which is the portion of the total net deferred tax balance of $2,885,000 offset by a valuation allowance of $2,477,000, that the Company&amp;#8217;s management is reasonably assured will be fully utilized in future periods. In evaluating the Company&amp;#8217;s ability to recover deferred tax assets in future periods, management considers the available positive and negative factors, including the Company&amp;#8217;s recent operating results, the existence of cumulative losses and near term forecasts of future taxable income consistent with the plans and estimates that management uses to manage the underlying business. The net deferred tax asset, as of March 31, 2012 will be maintained until management concludes that it is more likely than not that the remaining deferred tax assets will be realized. When sufficient positive evidence exists, the Company&amp;#8217;s income tax expense will be reduced by the decrease in its valuation allowance. An increase or reversal of the Company&amp;#8217;s valuation allowance could have a significant negative or positive impact on the Company&amp;#8217;s future earnings.&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Net (Loss) Income per Common Share&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Basic net (loss) income per common share is computed by dividing net (loss) income by the weighted average number of common shares outstanding during the period. Diluted net (loss) income per common share is computed by dividing net (loss) income by the weighted average number of common shares and common stock equivalents outstanding, calculated on the treasury stock method for options, stock grants and warrants using the average market prices during the period, including potential common shares issuable upon conversion of outstanding convertible notes, except if the effect on the per share amounts is anti-dilutive.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;For the three months ended March 31, 2012, all common stock equivalents were excluded from the computation of diluted net loss per share because their effect is anti-dilutive. This included 75,257 common stock options and grants and 2,500,000 common shares and 1,875,000 warrants issuable upon conversion of outstanding related party convertible notes.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;For the three ended March 31, 2011, 254,000 common stock options and grants, 2,500,000 common shares and 1,875,000 warrants issuable upon conversion of outstanding related party convertible notes and 825,000 common shares and 618,750 warrants issuable on conversion of accrued interest on related party convertible notes were excluded from the computation of diluted net income per common share because their effect is anti-dilutive.&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;A reconciliation of the shares used in the calculation of basic and diluted earnings per common share is as follows:&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&lt;/p&gt;
&lt;table style="width: 100%; border-collapse: collapse; font: 10pt times new roman, times, serif;" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; padding-left: 9pt; text-indent: -9pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="11" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Three&amp;#160;Months&amp;#160;Ended&lt;br /&gt;March&amp;#160;31,&amp;#160;2012&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td
 style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="11" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Three&amp;#160;Months&amp;#160;Ended&lt;br /&gt;March&amp;#160;31,&amp;#160;2011&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; text-align: center; padding-left: 9pt; text-indent: -9pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Income(Loss)&lt;br /&gt;(Numerator)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Shares&lt;br /&gt;(Denominator)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Per&amp;#160;Share&lt;br /&gt;Amount&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Income(Loss)&lt;br /&gt;(Numerator)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Shares&lt;br /&gt;(Denominator)&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt;" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="font-weight: bold; text-align: center; border-bottom: black 1pt solid;" colspan="3" nowrap="nowrap"&gt;&lt;font style="font-size: 10pt;"&gt;Per&amp;#160;Share&lt;br /&gt;Amount&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom;"&gt;
&lt;td style="font-weight: bold; padding-left: 9pt; text-indent: -9pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="3"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="3"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="3"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="3"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="3"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;" colspan="3"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-indent: -9pt; padding-left: 9pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Basic (Loss) Income Per Share&lt;/b&gt;:&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt; width: 28%;"&gt;&lt;font style="font-size: 10pt;"&gt;Net (Loss) Income&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 9%; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;(148,959&lt;/font&gt;&lt;/td&gt;
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&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 9%; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;11,734,824&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 9%; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;(0.01&lt;/font&gt;&lt;/td&gt;
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&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 9%; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;34,729&lt;/font&gt;&lt;/td&gt;
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&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td
 style="width: 9%; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;11,579,606&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 9%; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;0.00&lt;/font&gt;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Effect of dilutive securities:&lt;/font&gt;&lt;/td&gt;
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&lt;/tr&gt;
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&lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: 0; padding-left: 0.12in;"&gt;&lt;font style="font-size: 10pt;"&gt;Options and stock grants&lt;/font&gt;&lt;/td&gt;
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&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 1pt solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;100,384&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="padding-bottom: 1pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="font-weight: bold; text-indent: -9pt; padding-left: 9pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: white;"&gt;
&lt;td style="font-weight: bold; text-indent: -9pt; padding-left: 9pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Diluted (Loss) Income Per Share:&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: #ccffcc;"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Net (Loss) Income Applicable to Common Shareholders&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;(148,959&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;11,734,824&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;(0.01&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;34,729&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;11,679,990&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="border-bottom: black 2.5pt double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;0.00&lt;/font&gt;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Stock-Based Compensation&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&lt;font style="font: 10pt times new roman, times, serif;"&gt;Stock-based compensation expense is estimated at the grant date based on the fair value of the award. The Company estimates the fair value of stock options granted using the Black-Scholes option pricing model.&lt;/font&gt; &lt;font style="font: 10pt times new roman, times, serif;"&gt;The fair value of restricted stock units granted is based on the closing market price of the Company&amp;#8217;s common stock on the date of the grant. The fair value of these awards, adjusted for estimated forfeitures, is amortized over the requisite service period of the award, which is generally the vesting period.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: bold 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;Recently Adopted Accounting Standards&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;
&lt;p style="font: 10pt times new roman, times, serif; margin: 0pt 0; text-align: justify;"&gt;In September 2011, the FASB issued Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) No. 2011-08, Intangibles-Goodwill and Other &amp;#8211; Testing Goodwill for Impairment (&amp;#8220;ASU No. 2011-08&amp;#8221;). ASU No. 2011-08 permits an entity to make a qualitative assessment of whether it is more likely than not that a reporting unit&amp;#8217;s fair value is less than its carrying amount before automatically applying the two-step goodwill impairment test, which has been
 the required test since 2002. If an entity determines that this is the case, it is necessary to perform the currently prescribed two-step goodwill impairment test to determine the amount, if any, of impaired goodwill. Otherwise, the two-step goodwill impairment test is not required. This new guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011 with early adoption permitted. The adoption of this guidance did not materially impact our Consolidated Financial Statements.&lt;/p&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
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