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Stock-Based Compensation (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Workers Compensation Discount [Abstract]    
Summary of share-based compensation activity
Common stock option and restricted stock award activity under the Plan was as follows:
 
 
 
 
 
Options and RSAs Outstanding
 
 
 
Shares
 
 
 
Weighted Average
 
 
 
Available
 
Number
 
Exercise Price
 
 
 
For Grant
 
of Shares
 
Per Share
 
 
 
 
 
 
 
 
 
 
Balance, Inception
 
-
 
-
 
$
-
 
Balance at December 31, 2012
 
-
 
-
 
$
-
 
Balance at March 31, 2013
 
-
 
-
 
$
-
 
Authorized
 
2,050,000
 
-
 
$
-
 
Options Granted
 
(915,000)
 
915,000
 
$
3.21
 
Restricted Awards Granted
 
(225,000)
 
225,000
 
 
 
 
Balance at December 31, 2013
 
910,000
 
1,140,000
 
 
 
 
Authorized
 
500,000
 
-
 
$
-
 
Options Granted
 
(225,000)
 
225,000
 
$
4.30
 
Restricted Awards Vested
 
-
 
(80,000)
 
$
3.21
 
Balance at March 31, 2014
 
1,185,000
 
1,285,000
 
 
 
 
Total vested and expected to vest shares (options)
 
 
 
1,140,000
 
$
3.43
 
Common stock option and restricted stock award activity under the Plan was as follows:
 
 
 
 
 
 
Options and RSAs Outstanding
 
 
 
Shares
 
 
 
 
Weighted Average
 
 
 
Available
 
Number
 
Exercise Price
 
 
 
For Grant
 
of Shares
 
Per Share
 
Balance, Inception
 
 
-
 
 
-
 
$
-
 
Balance at December 31, 2012
 
 
-
 
 
-
 
$
-
 
Authorized
 
 
2,050,000
 
 
-
 
$
-
 
Options Granted
 
 
(915,000)
 
 
915,000
 
$
3.21
 
Restricted Awards Granted
 
 
(225,000)
 
 
225,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2013
 
 
910,000
 
 
1,140,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total vested and expected to vest shares (options)
 
 
 
 
 
868,459
 
$
3.21
 
Outstanding options  
The following table summarizes information with respect to stock options outstanding at December 31, 2013:
 
Options Outstanding
 
Options Exercisable
 
 
 
 
 
 
 
Weighted
 
 
 
 
Weighted
 
 
 
 
 
 
 
Average
 
 
 
 
Average
 
 
 
 
 
 
 
Remaining
 
 
 
 
Exercise
 
Exercise Price
 
Shares
 
Contractual Life
 
Shares
 
Price Per
 
Per Share
 
Outstanding
 
(in years)
 
Exercisable
 
Share
 
$
3.21
 
 
915,000
 
 
9.94
 
 
33,000
 
$
3.21
 
 
 
 
 
915,000
 
 
9.94
 
 
33,000
 
$
3.21
 
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range
The following table summarizes information with respect to stock options outstanding at March 31, 2014:
 
Options Outstanding
 
Options Exercisable
 
 
 
 
 
 
Weighted
 
 
 
Weighted
 
 
 
 
 
 
Average
 
 
 
Average
 
 
 
 
 
 
Remaining
 
 
 
Exercise
 
Exercise Price
 
Shares
 
Contractual Life
 
Shares
 
Price Per
 
Per Share
 
Outstanding
 
(in years)
 
Exercisable
 
Share
 
 
 
 
 
 
 
 
 
 
 
 
 
$
3.21
 
915,000
 
9.70
 
33,000
 
$
3.21
 
$
4.30
 
225,000
 
9.99
 
-
 
 
-
 
 
 
 
1,140,000
 
9.76
 
33,000
 
$
3.21
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of employee stock options granted was estimated using the following weighted-average assumptions for the three months ended March 31, 2014 and for the period from January 12, 2012 (inception) to March 31, 2014:
 
 
 
For the Three
 
January 12, 2012
 
 
 
Months Ended
 
(inception) to
 
 
 
March 31, 2014
 
March 31, 2014
 
 
 
 
 
 
 
Expected volatility
 
80
%
80
%
Risk free rate
 
1.89
%
1.77
%
Dividend yield
 
0
%
0
%
Expected term (in years)
 
5.85
 
5.93
 
The fair value of employee stock options granted was estimated using the following weighted-average assumptions for the year ended December 31, 2013 and for the period from January 12, 2012 (inception) to December 31, 2013 was as follows:
 
 
 
For the
 
 
January 12, 2012
 
 
 
Year Ended
 
 
(inception) to
 
 
 
December 31, 2013
 
 
December 31, 2013
 
 
 
 
 
 
 
 
 
 
Expected volatility
 
 
80
%
 
 
80
%
Risk free rate
 
 
1.77
%
 
 
1.77
%
Dividend yield
 
 
0
%
 
 
0
%
Expected term (in years)
 
 
5.93
 
 
 
5.93
 
Schedule Of Stock Based Compensation Of Employees And Non Employees
Stock-based compensation for employees and non-employees related to options and RSAs recognized for the three months ended March 31, 2014 and for the period from January 12, 2012 (inception) to March 31, 2014 was as follows:
 
 
 
For the Three
 
January 12, 2012
 
 
 
Months Ended
 
(inception) to
 
 
 
March 31, 2014
 
March 31, 2014
 
Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Selling, general and administrative
 
$
995,731
 
$
2,867,835
Stock-based compensation for employees and non-employees related to options and RSAs recognized for the year ended December 31, 2013 and for the period from January 12, 2012 (inception) to December 31, 2013 was as follows:
 
 
 
For the
 
January 12, 2012
 
 
 
Year Ended
 
(inception) to
 
 
 
December 31, 2013
 
December 31, 2013
 
Operating expenses
 
 
 
 
 
 
 
Selling, general and administrative
 
$
1,872,104
 
$
1,872,104