Quarterly report pursuant to Section 13 or 15(d)

Stock options and warrants (Tables)

v2.4.0.8
Stock options and warrants (Tables)
9 Months Ended
Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Share Based Compensation Employees and Consultants
   
Three Months Ended
   
Nine months Ended
 
   
2013
   
2012
   
2013
   
2012
 
                         
Stock options to employees and directors
 
$
332,150
   
$
224,187
   
$
1,226,304
   
$
613,276
 
Stock options to consultants for:
                               
     Investor relations activities
   
-
     
-
     
-
     
23,598
 
     APPY1 activities
   
100
     
30,751
     
1,293
     
33,733
 
     Animal health activities
   
-
     
-
     
-
     
5,752
 
                                 
    Total stock-based compensation
 
$
332,250
   
$
254,938
   
$
1,227,597
   
$
676,359
 
Schedule of Stock Based Compensation Expenses
Three Months Ended
   
Nine months Ended
 
   
2013
   
2012
   
2013
   
2012
 
                                 
Selling, general and administrative expenses
 
$
301,888
   
224,187
   
1,111,623
   
$
642,626
 
Research and development expenses
   
30,362
     
30,751
     
115,974
     
33,733
 
                                 
    Total stock-based compensation
 
$
332,250
   
$
254,938
   
$
1,227,597
   
$
676,359
 
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
         
Dividend yield
   
0%
 
0%
Expected price volatility
   
127-128%
 
121-145%
Risk free interest rate
   
0.65  to 0.76%
 
0.60-1.03%
Expected term
 
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
   
    (314,193
)
   
4.06
     
3.36
 
     Forfeited
   
(7,308
)
   
2.46
     
2.07
 
                         
Nonvested at September 30, 2013
   
712,537
   
$
2.35
   
$
1.98
 
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
   
(13,394
   
27.69
             
                             
Outstanding at September 30, 2013
   
1,220,149
   
$
8.70
     
8.6
   
$
8,603
 
                                 
Exercisable at September 30, 2013
   
507,612
   
$
17.60
     
7.8
   
$
2,945
Other Options and Warrants [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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 September 30, 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 and exercisable at September 30, 2013
4,622,505
   
$
1.82
 
4.6
 
$
2,334,500