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Options and Equity Warrants (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Fair Value, Weighted Average Assumptions
The fair values of the options and equity warrants granted, were estimated based on the following weighted average assumptions:
 
Year Ended December 31,
 
2013
 
2012
 
2011
Risk-free interest rate
0.14%-1.40%
 
0.61%- 0.86%
 
0.83%- 2.24%
Expected dividend yield
0
 
0
 
0
Expected life
1-5 years
 
5 years
 
5 years
Expected volatility
89.727%-118.22%
 
108.76%-112.35%
 
104.29%-105.91%
Weighted average grant date fair value for options and equity warrants issued
$0.14 per option/warrant for 4,120,000 options/equity warrants
 
$0.23 per option/warrant for 1,499,000 options/equity warrants
 
$0.26 per option/warrant for 1,310,000 options/equity warrants
Stock Option Activity
Unvested stock option activity for non-employees:
 
 
 Number of
 Options
 
Weighted
 Average
Exercise
 Price
 
 Weighted
 Average
 Remaining
 Contracted
 Term
(Years)
 
 Aggregate
Intrinsic
Value
 
 
 
 
 
 
 
 
Outstanding January 1, 2011
102,084

 
$
2.63

 
3.54

 

Granted
200,000

 
0.21

 
10.00

 

Vested
(45,834
)
 
2.81

 
1.50

 

Forfeited

 

 

 

Outstanding December 31, 2011
256,250

 
$
0.71

 
8.50

 

Granted
300,000

 
0.29

 
9.50

 

Vested
(345,828
)
 
0.53

 
7.95

 

Forfeited

 

 

 

Outstanding December 31, 2012
210,422

 
$
0.40

 
9.68

 

Granted
470,833

 
0.25

 
9.61

 

Vested
(210,422
)
 
0.40

 

 

Forfeited

 

 

 

Outstanding December 31, 2013
470,833

 
$
0.25

 
9.61

 

Stock option activity for non-employees during the year:
 
 
 Number
of
 Options
 
Weighted
 Average
Exercise
 Price
 
 Weighted
 Average
 Remaining
 Contracted
 Term
(Years)
 
Aggregate
Intrinsic
Value
Outstanding January 1, 2011
2,848,432

 
$
2.03

 
5.80

 

Granted
280,000

 
0.27

 
9.88

 

Exercised

 

 

 

Forfeited

 

 

 

Outstanding December 31, 2011
3,128,432

 
$
1.87

 
5.25

 

Granted
300,000

 
0.29

 
9.50

 

Exercised

 

 

 

Forfeited

 

 

 

Outstanding December 31, 2012
3,428,432

 
$
1.73

 
4.71

 

Granted
850,000

 
0.56

 
9.53

 

Exercised

 

 

 

Forfeited
(150,000
)
 
2.00

 

 

Outstanding December 31, 2013
4,128,432

 
$
1.48

 
5.01

 

Vested and expected to vest at December 31, 2013
3,657,599

 
$
1.86

 
4.53

 

Exercisable at December 31, 2013
3,657,599

 
$
1.86

 
4.53

 

Unvested stock option activity for employees:
 
 
 Number of
 Options
 
Weighted
 Average
Exercise
 Price
 
Average
 Remaining
 Contracted
 Term
(Years)
 
 Aggregate
Intrinsic
 Value
Outstanding January 1, 2011
50,555

 
$
1.33

 
7.60
 

Granted
140,000

 
0.33

 
9.93
 

Vested
(42,222
)
 
0.95

 
7.38
 

Forfeited

 

 
0
 

Outstanding December 31, 2011
148,333

 
$
0.49

 
9.52
 

Granted
509,708

 
0.43

 
9.52
 

Vested
(131,668
)
 
0.36

 
9.04
 

Forfeited
(10,000
)
 
1.30

 
5.50
 

Outstanding December 31, 2012
516,373

 
$
0.45

 
9.43
 

Granted
595,000

 
0.24

 
9.20
 

Vested
(586,373
)
 
0.38

 
9.26
 

Forfeited

 

 
0
 

Outstanding December 31, 2013
525,000

 
$
0.29

 
8.38
 

Stock option activity during the years ended December 31, 2011, 2012 and 2013 is as follows:
 
Stock option activity for employees:
 
 
 Number of
 Options
 
Weighted
Average
Exercise
Price
 
 Weighted
Average
Remaining
Contracted
Term
(Years)
 
 Aggregate
Intrinsic
Value
Outstanding January 1, 2011
7,222,480

 
$
2.35

 
6.21
 

Granted
1,030,000

 
0.41

 
9.51
 

Forfeited

 

 
0
 

Outstanding December 31, 2011
8,252,480

 
$
2.11

 
5.75
 

Granted
1,199,000

 
0.45

 
9.51
 

Forfeited
(10,000
)
 
1.30

 
5.50
 

Outstanding December 31, 2012
9,441,480

 
$
1.90

 
5.35
 

Granted
1,170,000

 
0.36

 
9.49
 

Forfeited

 

 
0
 

Outstanding December 31, 2013
10,611,480

 
$
1.73

 
4.92
 

Vested and expected to vest at December 31, 2013
10,086,480

 
$
1.79

 
4.55
 

Exercisable at December 31, 2013
10,086,480

 
$
1.79

 
4.55