Stock-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Summary of options outstanding by exercise price range |
Options Outstanding | | | Options Exercisable | | Range of Exercise Price | | Number Outstanding at 12/31/15 | | | Weighted Average Remaining Contractual Life (years) | | | Weighted Average Exercise Price | | | Number Exercisable at 12/31/15 | | | Weighted Average Exercise Price | | | | | | | | | | | | | | | | | | $ 2.08 - $ 3.50 | | | 296,450 | | | | 6.10 | | | $ | 2.98 | | | | 62,717 | | | $ | 2.95 | | $ 3.51 - $ 5.00 | | | 1,516,000 | | | | 3.16 | | | $ | 4.22 | | | | 1,501,000 | | | $ | 4.23 | | $ 5.01 - $ 6.50 | | | 201,667 | | | | 4.53 | | | $ | 5.84 | | | | 161,385 | | | $ | 5.81 | | $ 6.51 - $ 8.21 | | | 170,000 | | | | 2.80 | | | $ | 7.83 | | | | 163,334 | | | $ | 7.84 | | | | | 2,184,117 | | | | 3.65 | | | $ | 4.48 | | | | 1,888,436 | | | $ | 4.63 | |
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Summary of assumptions used to value stock options granted to employees and directors |
| | For the year ended | | | | December 31, 2015 | | | | | | Annual dividend yield | | | - | | Expected life (years) | | | 2.97 | | Risk-free interest rate | | | 0.47% - 1.41 | % | Expected volatility | | | 60.07% - 72.33 | % |
| | For the year ended | | | | December 31, 2014 | | | | | | Annual dividend yield | | | - | | Expected life (years) | | | 3.5 | | Risk-free interest rate | | | 0.28% - 1.47 | % | Expected volatility | | | 60.68% - 108.75 | % |
| | For the year ended | | | | December 31, 2013 | | | | | | Annual dividend yield | | | - | | Expected life (years) | | | 4.3 | | Risk-free interest rate | | | 0.65% - 2.15 | % | Expected volatility | | | 117% - 154 | % |
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Summary of stock-based compensation expense |
| | Years ended | | | | December 31, | | | | 2015 | | | 2014 | | | 2013 | | | | | | | | | | | | Research and development | | $ | 484 | | | $ | 510 | | | $ | 267 | | Sales and marketing | | | 296 | | | | 353 | | | | 909 | | General and administrative | | | 295 | | | | 866 | | | | 1,480 | | Stock compensation expense | | $ | 1,075 | | | $ | 1,729 | | | $ | 2,656 | |
(In thousands) | | Remaining unrecognized expense at December 31, 2015 | | Stock-based
compensation | | $ | 520 | |
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Summary of all warrant activity |
Outstanding and exercisable | | Warrants | | | Weighted Average Exercise Price | | | Weighted Average Remaining Contractual Life | | January 1, 2013 | | | 4,704,636 | | | $ | 1.61 | | | | 1.41 | | Issued | | | - | | | | - | | | | - | | Expired/forfeited | | | - | | | | - | | | | - | | Exercised | | | (3,876,063 | ) | | | 1.45 | | | | - | | December 31, 2013 | | | 828,573 | | | | 2.39 | | | | 2.06 | | Issued | | | 2,575,000 | | | | 5.09 | | | | - | | Expired/forfeited | | | (40,000 | ) | | | 3.98 | | | | - | | Exercised | | | (28,500 | ) | | | 2.85 | | | | - | | December 31, 2014 | | | 3,335,073 | | | | 4.45 | | | | 0.93 | | Issued | | | - | | | | - | | | | - | | Expired/forfeited | | | (2,591,000 | ) | | | 5.06 | | | | - | | Exercised | | | (280,000 | ) | | | 1.30 | | | | - | | Outstanding and exercisable, December 31, 2015 | | | 464,073 | | | $ | 3.02 | | | | 0.19 | |
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Stock Options [Member] |
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Summary of all stock option plans / warrant activity |
| | Options Outstanding | | | | | | | | | | Weighted- | | | | | | | | | | | | | Average | | | | | | | | | | Weighted- | | | Remaining | | | | | | | | | | Average | | | Contractual | | | Aggregate | | | | Number of | | | Exercise | | | Life | | | Intrinsic | | | | Shares | | | Price | | | (in years) | | | Value | | Options outstanding – January 1, 2013 | | | 1,715,200 | | | $ | 5.04 | | | | | | | | | | Options granted | | | 145,000 | | | | 6.06 | | | | | | | | | | Options exercised | | | (241,361 | ) | | | 4.39 | | | | | | | | | | Options cancelled or expired | | | (18,256 | ) | | | 5.57 | | | | | | | | | | Options outstanding – December 31, 2013 | | | 1,600,583 | | | $ | 5.22 | | | | | | | | | | Options granted | | | 405,200 | | | | 6.31 | | | | | | | | | | Options exercised | | | - | | | | - | | | | | | | | | | Options cancelled or expired | | | (296,383 | ) | | | 5.46 | | | | | | | | | | Options outstanding – December 31, 2014 | | | 1,709,400 | | | | 4.92 | | | | | | | | | | Options granted | | | 605,000 | | | | 3.57 | | | | | | | | | | Options exercised | | | - | | | | - | | | | | | | | | | Options cancelled or expired | | | (130,283 | ) | | | 6.03 | | | | | | | | | | Options outstanding – December 31, 2015 | | | 2,184,117 | | | $ | 4.48 | | | | 3.65 | | | $ | 10,740 | | Options exercisable and expected to vest – December 31, 2015 | | | 1,888,436 | | | $ | 4.63 | | | | 3.30 | | | $ | 4,006 | |
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Warrant [Member] |
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Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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Summary of all stock option plans / warrant activity |
Description | | Issue Date | | Exercise Price | | | Shares | | | Expiration Date | | | | | | | | | | | | February 2011 Legal Advisor Warrant | | 2/22/2011 | | $ | 2.50 | | | | 80,000 | | | 2/22/2016 | March 2011 Investor Warrants | | 3/9/2011 | | $ | 3.13 | | | | 349,973 | | | 3/9/2016 | March 2011 Investor Warrants | | 4/7/2011 | | $ | 3.13 | | | | 34,100 | | | 4/7/2016 | Total Warrants Outstanding | | | | | | | | | 464,073 | | | |
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