Quarterly report pursuant to Section 13 or 15(d)

Stock options and warrants (Tables)

v2.4.0.8
Stock options and warrants (Tables)
3 Months Ended
Mar. 31, 2014
Stock options and warrants [Abstract]  
Schedule of Recognized Stock-based Compensation
   
2014
   
2013
 
             
Stock options to employees and directors
 
$
402,839
   
$
483,625
 
Stock options to consultants for:
               
     APPY1 activities
   
182
     
597
 
                 
    Total stock-based compensation
 
$
 403,021
   
$
 484,222
 
Schedule of the Income Statement Allocation of Stock-based Compensation
   
2014
   
2013
 
             
Selling, general and administrative expenses
 
$
382,994
   
$
483,625
 
Research and development expenses
   
20,027
     
597
 
                 
    Total stock-based compensation
 
$
403,021
   
$
484,222
 
Summary of Stock Incentive Plan Activity
   
2014
 
2013
 
           
Dividend yield
    0 %     0 %
Expected price volatility
    96-126 %     127-128 %
Risk free interest rate
    1.52-1.70 %     0.72-0.76 %
Expected term
 
5 years
 
5 years
 
Schedule of Fair Value Assumptions Used to Estimate Stock-based Compensation
   
Shares
Underlying
Options
   
Weighted
Average
Exercise
Price
   
Weighted
Average
Remaining
Contractual
Term (Years)
   
Aggregate
Intrinsic
Value
 
                         
Outstanding at January 1, 2014
   
1,218,265
   
$
8.70
             
     Granted
   
652,100
     
2.28
             
     Exercised
   
-
     
-
             
     Forfeited
   
(23,605
   
33.35
             
                             
Outstanding at March 31, 2014
   
1,846,760
   
$
6.12
     
8.8
   
$
782,342
 
                                 
Exercisable at March 31, 2014
   
1,089,222
   
$
8.74
     
8.2
   
$
485,192
 
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, 2014
   
200,446
   
$
2.95
   
$
2.48
 
     Granted
   
652,100
     
2.28
     
1.91
 
     Vested
   
    (91,341
)
   
3.04
     
2.56
 
     Forfeited
   
(3,667
)
   
2.04
     
1.73
 
                         
Nonvested at March 31, 2014
   
757,538
   
$
2.36
   
$
1.98
 
Schedule of Nonqualified Award Activity
  
 
Shares
Underlying
Options / Warrants
   
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (Years)
   
Aggregate
Intrinsic
Value
                         
Outstanding at January 1, 2014
   
4,622,505
   
$
1.82
         
     Granted
   
-
     
-
         
     Exercised
   
(1,161,570
   
1.36
         
     Forfeited
   
-
     
-
         
                         
Outstanding at March 31, 2014
   
3,460,935
   
$
1.97
 
4.0
 
$
3,676,206