Stock-Based Compensation Arrangements (Tables)

12 Months Ended

Dec. 31, 2014

Stock-Based Compensation Arrangements [Abstract]

Stock-based compensation expense for stock option awards

For purposes of determining the stock-based compensation expense for stock option awards in 2014 and 2013, the Black-Scholes option-pricing model was used with the following weighted-average assumptions:

	2014		2013
Risk-free interest rate	1.53	%	1.56	%
Expected life	5.73 years		5.73 years
Expected volatility	144.74	%	140.35	%
Dividend yield	0	%	0	%

Common Stock Weighted Average Purchase Price

The following table details stock option and restricted stock activity for the years ended December 31, 2014 and 2013.

	2014			2013
		Weighted Avg.			Weighted Avg.
		Exercise			Exercise
	Shares	Price		Shares	Price
Outstanding, beginning of period	5,884,050	$	0.43	2,302,000	$	1.06
Granted	137,000		0.35	4,693,800		0.38
Stock options exercised	––		0.00	(252,000)		0.32
Restricted stock exercised	––		0.00	(2,500)		0.00
Forfeited/Expired	(1,497,150)		0.53	(857,250)		1.87
Outstanding, end of period	4,523,900	$	0.39	5,884,050	$	0.43
Exercisable, end of period	1,645,161	$	0.43	588,750	$	0.89

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table details further information regarding stock options and restricted stock outstanding and exercisable at December 31, 2014:

						Stock Options/Restricted Stock
	Stock Options/Restricted Stock Outstanding					Exercisable
			Weighted Avg.
			remaining	Weighted Avg.				Weighted Avg.
			contractual life	Exercise				Exercise
Range of Exercise Price:	Shares		(years)	Price		Shares		Price
$0.01–$1.00		4,474,900	8.51	$	0.38		1,596,161	$	0.39
$1.01–$2.00		45,000	3.25		1.40		45,000		1.40
$2.01–$3.00		––	––		––		––		––
$3.01–$4.00		––	––		––		––		––
$4.01–$5.00		4,000	0.93		4.10		4,000		4.10
		4,523,900	8.45	$	0.39		1,645,161	$	0.43
Aggregate intrinsic value	$	0				$	0

Schedule Of Non-Vested Options

The following table summarizes the status of the Company’s non-vested options for the years ended December 31, 2014 and 2013:

	2014			2013
		Weighted Avg			Weighted Avg
		Exercise			Exercise
	Shares	Price		Shares	Price
Non-vested options, beginning of year	5,295,300	$	0.38	925,050	$	0.42
Granted	137,000		0.35	4,693,800		0.38
Vested	(1,360,436)		0.38	(270,300)		0.48
Forfeited	(1,193,125)		0.38	(53,250)		0.51
Non-vested options, end of year	2,878,739	$	0.37	5,295,300	$	0.38

Total Compensation Cost Recorded for Stock-Based Compensation

Total cost for stock-based compensation arrangements is as follows:

	Year Ended December 31,
	2014		2013
Stock option grants beginning of period	$	492,332	$	92,187
Stock-based arrangements during the period:
Stock option grants		1,166		100,638
Restricted stock issued:
Employee stock purchase plan		5,437		5,522
Director agreements		––		(540)
	$	498,935	$	197,807