XML 135 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-based Compensation (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Schedule of Allocated Stock-based Compensation
The impact on our results of operations for recording stock-based compensation for the six months ended June 30, 2012 and 2013 is as follows:

 
    For the three months ended
June 30,
     For the six months ended
June 30,
  
   
2012
    
2013
    
2012
    
2013
  
General and administrative
   $ 61,098     $ (2,552 )   $ 120,228     $ 272  
Research and development
     36,322       --       73,357       --  
                                 
Total
   $ 97,420     $ (2,552 )   $ 193,585     $ 272  

The impact on our results of operations for recording stock-based compensation for the years ended December 31, 2012 and 2011 is as follows:

   
For the years ended
  
   
December 31,
  
   
2012
    
2011
  
General and administrative
   $ 185,478     $ 2,043,386  
Research and development
     98,214       219,154  
                 
Total
   $ 283,692     $ 2,262,540  
 
Schedule of Unrecognized Compensation Expense
Due to unexercised options and warrants outstanding at June 30, 2013, we will recognize an aggregate total of $58,959 of compensation expense over the next two years based upon option and warrant award vesting parameters as shown below:
 
       
2013
   $ 28,334  
2014
     30,625  
Total
   $ 58,959  

Total unrecognized stock-based compensation was $180,732 at December 31, 2012, which we expect to recognize over the next three years in accordance with vesting provisions as follows:
 
2013
   $ 118,127  
2014
     62,038  
2015
     567  
Total
   $ 180,732  

Schedule of Option and Warrant Activity
The following unaudited tables summarize option and warrant activity during the six months ended June 30, 2013.

   
Options
and
Warrants
Outstanding
    
Weighted
Average
Exercise
Price
  
             
Outstanding at December 31, 2012
     43,396,863     $ 0.54  
Options granted                                                        
     --       --  
Warrants issued                                                        
     850,000       0.25  
Expired                                                        
     (448,094 )     1.05  
Forfeited                                                        
     (506,800 )     1.41  
Exercised                                                        
     --       --  
                 
Outstanding at June 30, 2013                                                           
     43,291,969     $ 0.48  

The following table summarizes option and warrant activity during the years ended December 31, 2012 and 2011.

 
   
Options
and
Warrants
Outstanding
    
Weighted
Average
Exercise
Price
  
             
Outstanding at December 31, 2010
     20,442,170       1.13  
Options granted                                                        
     1,567,900       0.91  
Warrants issued                                                        
     1,697,834       0.68  
Expired                                                        
     (302,054 )     18.67  
Forfeited                                                        
     (2,510,201 )     0.08  
Exercised                                                        
     (455,098 )     -  
                 
Outstanding at December 31, 2011
     20,440,551       1.10  
Options granted                                                        
     50,000       0.37  
Warrants issued                                                        
     24,817,900       0.33  
Expired                                                        
     (252,669 )     1.31  
Forfeited                                                        
     (1,658,919 )     1.31  
Exercised                                                        
     -       -  
                 
Outstanding at December 31, 2012
     43,396,863     $ 0.54  

Schedule of Information About Stock Options and Warrants
The following table summarizes information about stock options and warrants outstanding at June 30, 2013.
 
     
Outstanding
    
Exercisable
         
Weighted
Average
Remaining
    
Weighted
Average
        
Weighted
Average
Range of
Exercise Prices
    
Number
Outstanding
  
Contractual
Life (years)
    
Exercise
Price
    
Number
Exercisable
  
Exercise
Price
$ 0.25-0.95       40,124,414     3.84     $ 0.42       39,957,747     $ 0.42
  1.00-1.59       2,823,055     3.12       1.04       2,803,222       1.04
  2.25-4.00       344,500     2.52       2.54       344,500       2.54
$ 0.25-4.00       43,291,969     3.78     $ 0.48       43,105,469     $ 0.48

The following table summarizes information about stock options and warrants outstanding at December 31, 2012.
 
     
Outstanding
    
Exercisable
  
           
Weighted
Average
Remaining
    
Weighted
Average
          
Weighted
Average
  
Range of
Exercise Prices
    
Number
Outstanding
    
Contractual
Life (years)
    
Exercise
Price
    
Number
Exercisable
    
Exercise
Price
  
$ 0.17-0.95     39,583,684     4.36     $ 0.47     39,207,017     $ 0.47  
  1.00-1.59       3,306,679     3.20       1.04       3,248,146       1.04  
  2.25-4.00          506,500     3.34       2.62          506,500       2.62  
$ 0.17-4.00     43,396,863     4.26     $ 0.54     42,961,663     $ 0.54  
 
Schedule of Restricted Stock Unit Activity
The following is a summary of restricted stock unit activity for the six months ended June 30, 2013.

   
Restricted
Stock Units
    
Weighted
Average
Grant
Date Fair
Value
  
             
Outstanding at December 31, 2012
     2,940,133     $ 1.11  
Awarded at fair value                                                        
     686,667       0.08  
Canceled/Forfeited                                                        
     --       --  
Settled by issuance of stock                                                        
     (258,553 )     0.82  
Outstanding at June 30, 2013
     3,368,247     $ 0.92  
Vested at June 30, 2013                                                           
     3,368,247     $ 0.92  

The following is a summary of restricted stock unit activity for the years ended December 31, 2012 and 2011:
 
   
Restricted
Stock Units
    
Weighted
Average
Grant
Date Fair
Value
  
             
Outstanding at December 31, 2010
     950,000       1.61  
Awarded at fair value
     1,600,000       1.04  
Canceled/Forfeited
     --       --  
Settled by issuance of stock
     --       --  
Outstanding at December 31, 2011
     2,550,000       1.25  
Awarded at fair value
     390,133       0.17  
Canceled/Forfeited
     --       --  
Settled by issuance of stock
     --       --  
Outstanding at December 31, 2012
     2,940,133     $ 1.11  
Vested at December 31, 2012
     2,940,133     $ 1.11  

Stock Options [Member]
    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Schedule of Assumptions Used to Value Awards
The fair values for the options granted for the six months ended June 30, 2012 were estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:
 
 
Six Months Ended
June 30, 2012
Risk free interest rate
1.82%
Expected life (in years)
 10.0
Expected volatility
77.78%
Expected dividend yield
0.00%
 
The fair values for the options granted in 2012 and 2011 were estimated at the date of grant using the Black Scholes option-pricing model with the following weighted average assumptions:
 
 
Year Ended December 31,
 
2012
2011
Risk free interest rate
1.65%
1.91%
Expected life (in years)
10.0
6.2
Expected volatility
78.97%
80.89%
Expected dividend yield
0.00%
0.00%

Warrant [Member]
    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Schedule of Assumptions Used to Value Awards
The fair values for the warrants issued for the six months ended June 30, 2012 and 2013 estimated at the date of issuance using the Black-Scholes option-pricing model with the following weighted average assumptions:
 
 
Six Months Ended
June 30, 2012
Six Months Ended
June 30, 2013
Risk free interest rate
1.32%
0.65%
Expected life (in years)
5.99
4.42
Expected volatility
85.65%
90.68%
Expected dividend yield
0.00%
0.00%

The fair values for the warrants granted in 2012 and 2011 were estimated at the date of grant using the Black Scholes option-pricing model with the following weighted average assumptions:
 
 
Year Ended December 31,
 
2012
2011
Risk free interest rate
1.16%
2.07%
Expected life (in years)
5.7
5.0
Expected volatility
82.79%
85.37%
Expected dividend yield
0.00%
0.00%