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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Schedule of Common Stock Shares Issued

During the year ended December 31, 2013, we issued shares of common stock as follows:

 

     Common Stock
Shares
     Amount  

Common stock issued for services

     69,017       $ 198,858   

Common stock issued for Quest acquisition

     22,000,000         55,000,000   

Note and interest conversions

     8,472,539         3,148,493   

Warrant conversions

     7,232,779         21,698,338   
  

 

 

    

 

 

 
     37,774,335       $ 80,045,689   

Summary of Warrants Issued and Outstanding

The following table summarizes the warrants issued and outstanding as of December 31, 2013:

 

Warrants Issued and Outstanding as of December 31, 2013

 
     Date of      Exercise
Price
     Shares of  

Description

   Issuance      Expiration         Common Stock  

Exercisable warrants

           

Warrant 1-1

     03/22/12         03/21/17       $ 0.37         1,381,115   

Warrant 1-5

     10/10/12         10/09/17       $ 0.37         5,524,461   

Warrant 1-6

     03/29/13         03/21/17       $ 0.37         500,000   

Less warrants exercised

              (7,405,576
           

 

 

 

Total exercisable warrants

              —     

Contingent warrants

           

Warrant 1-2

     03/22/12         03/21/17       $ 0.37         345,278   

Warrant 1-3

     03/22/12         03/21/17       $ 0.37         345,278   

Warrant 1-4

     03/22/12         03/21/17       $ 0.37         690,557   

Less warrants cancelled

              (1,381,113
           

 

 

 

Total contingent warrants

              —     
           

 

 

 

Total warrants issued and outstanding

  

     —     
           

 

 

 

Summary of Stock Option Activity

Following is a summary of stock option activity from January 1, 2012 through December 31, 2013:

 

     Stock Options  
     Number
of Shares
     Exercise Price
Per Share
     Weighted-
Average
Exercise Price
Per Share
 

Outstanding at January 1, 2012

     1,381,115      $ 2.35      $ 2.35  

Granted

     1,969,000         2.00 – 2.79         2.10   

Canceled/Forfeited

     —          —          —    
  

 

 

       

Outstanding at December 31, 2012

     3,350,115         2.00 – 2.79         2.20   

Granted

     1,150,500         2.05 – 2.65         2.11   

Canceled/Forfeited

     358,667        2.10 – 2.79        2.18  
  

 

 

       

Outstanding at December 31, 2013

     4,141,948         2.00 – 3.25         2.48   
  

 

 

       
Summary of Stock Option Outstanding

The following additional information applies to options outstanding at December 31, 2013:

 

Ranges of

Exercise

Prices

   Outstanding at
December 31,
2013
     Weighted-
Average
Remaining
Contractual
Life
     Weighted-
Average
Exercise
Price
     Exercisable at
December 31,
2013
     Weighted-
Average
Exercise
Price
 

$2.00 – $3.25

     4,141,948         8.5       $ 2.48         2,939,448       $ 2.63   

The following additional information applies to options outstanding at December 31, 2012:

 

Ranges of

Exercise

Prices

   Outstanding at
December 31,
2012
     Weighted-
Average
Remaining
Contractual
Life
     Weighted-
Average
Exercise
Price
     Excercisable at
December 31,
2012
     Weighted-
Average
Exercise
Price
 

$2.00 – $2.79

     3,350,115         9.6       $ 2.20         1,922,782       $ 2.27   

Schedule of Weighted-Average Estimated Value of Employee Stock Options Granted

The weighted-average estimated value of employee stock options granted during the years ended December 31, 2013 and 2012 were estimated using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:

 

     Years Ended December 31,  
     2013     2012  

Expected volatility

     105     155

Risk-free interest rate

     1.51     0.70

Expected dividends

     0.00     0.00

Expected term in years

     5.8        5.4