Stock-Based Compensation Plans

12 Months Ended

Dec. 31, 2012

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Stock-Based Compensation Plans

Note 8: Stock-Based Compensation Plans

As provided in Note 3, the Company had awards outstanding under two stock option plans as of December 31, 2012.

Options outstanding that have vested and those that remain unvested as of December 31, 2012 are as follows:

	Number of Shares		Weighted  Average   Exercise  Price		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (1)
Vested		9,470,417	$	0.24		6.71	$	-
Unvested		10,021,250	$	0.13		8.88		-
Total		19,491,667		0.18		8.20	$	-

(1) These amounts represent the excess, if any, between the exercise price and $0.05, the closing market price of the Company’s common stock on December 31, 2012 as quoted on the Over-the-Counter Bulletin Board under the symbol “SCIE”.

Additional information with respect to stock option activity is as follows: 

				Outstanding Options
	Options Available For Grant			Plan Options Outstanding			Weighted Average Exercise Price Per Share		Weighted-Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (1)
December 31, 2010		1,504,179			14,695,000		$	0.37		8.16
Options granted		(3,300,000	)		3,300,000		$	0.10
Options forfeited		2,000,000			(2,000,000	)	$	0.50
Additional options authorized		1,495,821			-		$
December 31, 2011		1,700,000			15,795,000		$	0.20		8.20
Options granted		(5,246,667	)		5,246,667		$	0.12
Options forfeited		1,550,000			(1,550,000	)	$	0.18
Additional options authorized		8,450,000			-		$
December 31, 2012		6,453,333			19,491,667		$	0.18		8.20	$	-
Exercisable December 31, 2012					9,470,417		$	0.24		6.71	$	-

There were no stock options exercised during the years ended December 31, 2012 and 2011. At December 31, 2012, total unrecognized estimated employee and director compensation cost related to stock options granted is $838,217, which is expected to be recognized over the next three to four years.

For the fiscal year ended December 31, 2012, the Company granted stock options to purchase 5,246,667 common shares to employees and directors and 0 common shares to non-employees. At the time of grant, those options were estimated to have an aggregate fair value of approximately $461,000 and $0, respectively. For the fiscal year ended December 31, 2011, the Company granted stock options to purchase 3,100,000 common shares to employees and directors and 200,000 to non-employees. At the time of grant, these options were estimated to have an aggregate fair value of approximately $262,000 and $10,000, respectively.