XML 57 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted Average Assumptions
The fair values of the options and equity warrants granted in the three months ended March 31, 2013, were estimated based on the following weighted average assumptions:
 
Three Months Ended March 31,
 
2014
 
2013
Risk-free interest rate
 
0.14% - 0.38%
Expected dividend yield
 
Expected lives
 
1 year to 2.5 years
Expected volatility
 
87.727% - 118.222%
Weighted average grant date fair value for options and equity warrants issued
 
$0.09 per warrant for 1,500,000 options equity/warrants
Stock Option Activity
Stock option activity for employees:
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
(Years)
 
Aggregate
Intrinsic
Value
Outstanding January 1, 2014
10,611,480

 
$
1.73

 
4.92

 
$

Granted

 

 

 

Forfeited

 

 

 

Outstanding March 31, 2014
10,611,480

 
$
1.73

 
4.67

 
$

Vested and expected to vest March 31, 2014
10,303,147

 
$
1.76

 
4.41

 
$

Exercisable March 31, 2014
10,303,147

 
$
1.76

 
4.41

 
$

 
No options to purchase shares were granted to employees during the three months ended March 31, 2014.
 
Unvested stock option activity for employees:
 
Number of
Options
 
Weighted
Average
Exercise 
Price
 
Average 
Remaining
Contractual 
Term 
(Years)
 
Aggregate 
Intrinsic
Value
Outstanding January 1, 2014
525,000

 
$
0.29

 
8.38

 
$

Granted

 

 

 

Vested
(216,667
)
 
0.27

 
9.34

 
28,000

Forfeited

 

 

 

Outstanding March 31, 2014
308,333

 
$
0.30

 
7.28

 
$
31,000


Stock option activity for non-employees:
 
Number of
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
 
Aggregate
Intrinsic
Value
Outstanding January 1, 2014
4,128,432

 
$
1.48

 
5.01

 
$

Granted

 

 

 

Exercised

 

 

 

Forfeited

 

 

 

Outstanding March 31, 2014
4,128,432

 
$
1.48

 
4.76

 
$

Vested and expected to vest March 31, 2014
3,832,599

 
$
1.79

 
4.47

 
$

Exercisable March 31, 2014
3,832,599

 
$
1.79

 
4.47

 
$


No options to purchase shares were granted to non-employees during the three months ended March 31, 2014.

Unvested stock option activity for non-employees during the year:
 
Number of
Options
 
Weighted
Average
Exercise 
Price
 
Weighted 
Average
Remaining 
Contractual
Term 
(Years)
 
Aggregate 
Intrinsic
Value
Outstanding January 1, 2014
470,833

 
$
0.25

 
9.61

 
$

Options granted

 

 

 

Options vested
(175,000
)
 
0.25

 
9.36

 
26,000

Options forfeited

 

 

 

Outstanding March 31, 2014
295,833

 
$
0.25

 
9.36

 
$
44,000