Stock Option Plans
During 2005, the Company adopted the
2005 Stock Incentive Plan and the 2005 Directors and Officers Stock Incentive Plan (Plan) in order
to attract and retain qualified personnel. Under the Plan, the Board of Directors, in its discretion may grant stock options (either
incentive or non-qualified stock options) to officers, directors and employees.
The Company did not issue any stock
options for the years ended December 31, 2011 and 2010.