Capital Stock (Tables)

12 Months Ended

Dec. 31, 2014

Authorized, Issued and Reserved shares of common stock

As of December 31, 2014 the Company has 172,683,342 shares of common stock outstanding and the following shares of common stock are reserved for issuance:

	Reserved for	Strike
	issuance	Price		Expiry
Shares reserved under outstanding stock options and options available for grant	10,689,000
Rights associated with Employee Stock Purchase Plan	503,952
Warrants with common stock additional purchase rights associated with December 2014 private placement	50,189,431	$	0.1003	Dec 23, 2021
Warrants to purchase common stock associated with December 2014 venture loan and security agreement	2,492,523	$	0.1003	Dec 23, 2024
Outstanding warrants issued in October 2010	1,750,000	$	1.3000	Mar 5, 2015
Outstanding warrants issued in June 2012	437,158	$	0.2745	Jun 29, 2017
Outstanding warrants issued in May 2013, vesting May 2013	20,655,737	$	0.2745	May 17, 2020
Outstanding warrants issued in May 2013, vesting August 2013	14,426,230	$	0.2745	Aug 9, 2020
Total common shares reserved for issuance at December 31, 2014	101,144,031
Total common shares issued and outstanding at December 31, 2014	172,683,342
Total common shares outstanding and reserved for issuance at December 31, 2014	273,827,373

Principal payments due under the terms of Loan Agreement

Principal payments due under the terms of the Loan Agreement are as follows:

2015		-
2016		1,223,672
2017		1,981,623
2018		1,794,705
	$	5,000,000

Venture Loan [Member]

Black-Scholes Pricing Model Assumptions to Determine Fair Value of Warrants

Fair value of the Lender Warrants was calculated using the following inputs in a Black-Scholes model:  

	December 23, 2014
Risk-free interest rate	2.17	%
Expected life	10 years
Expected volatility	121.6	%
Dividend yield	0	%

Warrants 2014 [Member]

Black-Scholes Pricing Model Assumptions to Determine Fair Value of Warrants

Fair value of the 2014 Warrants was calculated using the following inputs in a Black-Scholes model:  

	December 23, 2014
Risk-free interest rate	1.98	%
Expected life	7 years
Expected volatility	138.4	%
Dividend yield	0	%

Investor [Member]

Black-Scholes Pricing Model Assumptions to Determine Fair Value of Warrants

The fair value calculation used the following assumptions in a Black Scholes model to determine the fair value of the warrants:

	September 8,		December 31,
	2014		2014
Risk-free interest rate	2.48	%	2.47	%
Expected life	10 years		9.7 years
Expected volatility	119.4	%	124.9	%
Dividend yield	0	%	0	%

Placement Agent Warrants [Member]

Black-Scholes Pricing Model Assumptions to Determine Fair Value of Warrants

For purposes of determining the fair value of the 2013 Warrants exercisable upon shareholder approval of an increase in the Company’s authorized shares, the Black-Scholes pricing model was used with the following assumptions:

	May 17, 2013		June 30, 2013		August 9, 2013
Risk-free interest rate	1.35	%	1.58	%	2.53	%
Expected life	4 years		4 years		4 years
Expected volatility	144.63	%	145.62	%	146.19	%
Dividend Yield	0	%	0	%	0	%