XML 35 R22.htm IDEA: XBRL DOCUMENT v3.5.0.2
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2016
Stockholders' Equity Note [Abstract]  
Summary of warrant activity
A summary of warrant activity for the six months ended June 30, 2016 is presented as follows:

 
Warrants
Outstanding
 
Weighted
Average
Exercise
Price During
Period
Balance at December 31, 2015
14,250

 
$
4.30

Exercised

 

Canceled/forfeited
(7,500
)
 
4.30

Expired

 

Balance at June 30, 2016
6,750

 
$
4.30

 
 
 
 
Exercisable at June 30, 2016

 
$

Summary of stock-based compensation expense
The following table summarizes stock-based compensation expense and the impact it had on operations for the periods presented (in thousands):

 
Three months ended
June 30,
 
Six months ended
June 30,
 
2016
 
2015
 
2016
 
2015
Cost of sales
$
10

 
$
15

 
$
24

 
$
18

Product development
20

 
13

 
36

 
16

Selling, general, and administrative
354

 
144

 
580

 
250

Total stock-based compensation
$
384

 
$
172

 
$
640

 
$
284

Schedule of valuation assumptions
Estimates utilized in the calculation include the expected life of the option, risk-free interest rate, and expected volatility, and are further comparatively detailed as follows:

 
Six months ended
June 30,
 
2016
 
2015
Fair value of options issued
$
5.59

 
$
4.11

Exercise price
$
7.42

 
$
5.54

Expected life of option (in years)
5.8

 
5.8

Risk-free interest rate
1.6
%
 
1.7
%
Expected volatility
93.3
%
 
88.3
%
Dividend yield
0.0
%
 
0.0
%
Summary of option activity
A summary of option activity under all plans for the six months ended June 30, 2016 is presented as follows:

 
Number of
Options
 
Weighted
Average
Exercise
Price Per
Share
 
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 2015
602,207

 
$
8.58

 
 
Granted
123,790

 
7.42

 
 
Exercised
(68,307
)
 
4.59

 
 
Canceled/forfeited
(43,725
)
 
7.97

 
 
Expired

 

 
 
Balance at June 30, 2016
613,965

 
$
8.84

 
7.9
 
 
 
 
 
 
Vested and expected to vest at June 30, 2016
577,223

 
$
8.94

 
7.8
 
 
 
 
 
 
Exercisable at June 30, 2016
384,778

 
$
9.54

 
7.2

Restricted stock units

A summary of restricted stock unit activity under all plans for the six months ended June 30, 2016 is presented as follows:

 
Restricted
Stock Units
 
Weighted
Average
Grant
Date
Fair Value
 
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 2015
57,500

 
$
7.31

 
 
Granted
270,895

 
6.67

 
 
Released
(10,000
)
 
15.08

 
 
Canceled/forfeited
(45,770
)
 
6.84

 
 
Balance at June 30, 2016
272,625

 
$
6.47

 
2.0