Annual report pursuant to Section 13 and 15(d)

Stock options and warrants (Tables)

v2.4.0.8
Stock options and warrants (Tables)
12 Months Ended
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock Based Compensation Expenses
   
2013
   
2012
   
2011
 
         
Selling, general and administrative expenses
 
$
1,298,942
   
$
862,701
   
$
1,281,873
 
Research and development expenses
   
138,923
     
38,460
     
54,304
 
 Total stock-based compensation
 
$
1,437,865
   
$
901,161
   
$
1,336,177
 
Stock Options [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock Based Compensation Expenses
   
2013
   
2012
   
2011
 
         
Stock options to employees, officers, and directors
 
$
1,436,572
   
$
833,351
   
$
1,200,118
 
Stock options to consultants for:
                       
  Investor relations activities
   
-
     
23,598
     
57,309
 
   APPY1 activities
   
1,293
     
38,460
     
54,304
 
  Animal health activities
   
-
     
5,752
     
24,446
 
 Total stock-based compensation
 
$
1,437,865
   
$
901,161
   
$
1,336,177
 
Stock Incentive Plan Options [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used in the Estimation of Fair Value of Stock Based Compensation
   
2013
   
2012
   
2011
 
                   
Dividend yield
   
0%
     
0%
     
0%
 
Expected price volatility
   
127 to 128%
     
121 to 127%
     
119 to 120%
 
Risk free interest rate
   
.65 to .76%
     
.60 to  1.03%
     
1.32 to 2.14%
 
Expected term
 
5 years
   
5 years
   
5 years
 
Schedule of Nonvested Share Activity
Nonvested Shares
 
Nonvested
Shares
Underlying
Options
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Grant Date
Fair Value
 
                   
Nonvested at January 1, 2013
   
508,435
   
$
3.70
   
$
3.07
 
     Granted
   
525,603
     
2.06
     
1.75
 
     Vested
   
(824,400
)
   
2.85
     
2.38
 
     Forfeited
   
(9,192
)
   
2.63
     
2.21
 
                         
Nonvested at December 31, 2013
   
200,446
   
$
2.95
   
$
2.48
 
Summary of Stock Option Activity Under Stock Option and Incentive Plans
   
Shares
Underlying
Options
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Remaining
Contractual
Term (Years)
   
Aggregate
Intrinsic
Value
 
                         
Outstanding at January 1, 2013
   
707,940
   
$
13.98
             
     Granted
   
525,603
     
2.06
             
     Exercised
   
-
     
-
             
     Forfeited
   
(15,278
   
24.68
             
                             
Outstanding at December 31, 2013
   
1,218,265
   
$
8.70
     
8.4
   
$
85,000
 
                                 
Exercisable at December 31, 2013
   
1,017,819
   
$
9.84
     
8.2
   
$
61,000
 
Other Options and Warrants [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Assumptions Used in the Estimation of Fair Value of Stock Based Compensation
    2012     2011  
Dividend yield
    0 %     0 %
Expected price volatility
    121 %   119 to 145 %
  Risk free interest rate     0.74 %   1.20 to 1.95 %
Contractual term
  5 years     3 to 10 years  
Schedule of Nonvested Share Activity
Nonvested Shares
 
Nonvested
Shares
Underlying
Options
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Grant Date
Fair Value
 
                   
Nonvested at January 1, 2013
   
8,333
   
$
3.42
   
$
2.84
 
     Granted
   
-
     
-
     
-
 
     Vested
   
(8,333
)
   
3.42
     
2.84
 
     Forfeited
   
­-
     
-
     
-
 
                         
Nonvested at December 31, 2013
   
-
   
$
-
   
$
-
 
Summary of Stock Option Activity Under Stock Option and Incentive Plans
  
 
Shares
Underlying
Options / Warrants
   
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
   
Aggregate
Intrinsic
Value
                         
Outstanding at January 1, 2013
   
598,507
   
$
5.01
         
     Granted
   
4,025,000
     
1.36
         
     Exercised
   
-
     
-
         
     Forfeited
   
(1,002
)
   
59.10
         
                         
Outstanding at December 31, 2013
   
4,622,505
   
$
1.82
 
4.3
 
$
3,139,500