Quarterly report pursuant to Section 13 or 15(d)

Stock options and warrants (Tables)

v2.4.0.8
Stock options and warrants (Tables)
6 Months Ended
Jun. 30, 2014
Stock options and warrants [Abstract]  
Schedule of Recognized Stock-based Compensation

 

   

Three Months Ended

   

Six Months Ended

 
   

2014

   

2013

   

2014

   

2013

 
                         

Stock option to employees and directors

  $ 326,235     $ 410,529     $ 729,074     $ 894,154  

Stock options to consultants for APPY1 activities

    157       597       339       1,193  
                                 

    Total stock-based compensation

  $ 326,392     $ 411,126     $ 729,413     $ 895,347  
Schedule of the Income Statement Allocation of Stock-based Compensation
   

Three Months Ended

   

Six Months Ended

 
   

2014

   

2013

   

2014

   

2013

 
                                 

Selling, general and administrative expenses

  $ 305,351     372,692     688,345     $ 809,735  

Research and development expenses

    21,041       38,434       41,068       85,612  
                                 

    Total stock-based compensation

  $ 326,392     $ 411,126     $ 729,413     $ 895,347  
Schedule of Fair Value Assumptions Used to Estimate Stock-based Compensation
   

2014

 

2013

 
           

Dividend yield

    0 %     0 %

Expected price volatility

    96-126 %     127-128 %

Risk free interest rate

    1.52-1.70 %     0.65-0.76 %

Expected term

    5 years     5 years  
Summary of Stock Incentive Plan Activity

 

   

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

    (39,079     2.09              

     Forfeited

    (36,040     32.29              
                             

Outstanding at June 30, 2014

    1,795,246     $ 6.04       8.5     $ 164,154  
                                 

Exercisable at June 30, 2014

    1,134,621     $ 8.17       8.1     $ 140,863  
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

        (187,356 )     2.62       2.21  

     Forfeited

    (4,565 )     2.12       1.77  
                         

Nonvested at June 30, 2014

    660,625     $ 2.38     $ 1.99  
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

    (5,000     30.00            
                           

Outstanding at June 30, 2014

    3,455,935     $ 1.93   3.8   $ 2,491,184