Quarterly report pursuant to Section 13 or 15(d)

Stock options and warrants (Tables)

v2.4.1.9
Stock options and warrants (Tables)
3 Months Ended
Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of the Income Statement Allocation of Stock-based Compensation

2015

   

2014

 


       

Selling, general and administrative expenses

$ 392,362     $ 382,994  

Research and development expenses

  41,040       20,027  
                 

    Total stock-based compensation

  $ 433,402     $ 403,021  
Schedule of Fair Value Assumptions Used to Estimate Stock-based Compensation

2015

 


 

2014 



         

Dividend yield

  0 %     0 %

Expected price volatility

  93 %     96-126 %

Risk free interest rate

    1.39 %     1.52-1.70 %

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, 2015

1,854,258     $ 5.79              

Granted

1,094,500       1.89              

Exercised

                       

Forfeited

    (173,337 )     3.98              
                             

Outstanding at March 31, 2015

    2,775,421     $ 4.36       8.6     $  
                                 

Exercisable at March 31, 2015

    1,668,221     $ 5.96       7.9     $  
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, 2015

319,652     $ 2.28     $ 1.85  

Granted

1,094,500       1.89       1.34  

Vested

    (148,617 )     2.03       1.57  

Forfeited

    (158,335 )     2.06       1.48  
                         

Nonvested at March 31, 2015

    1,107,200     $ 1.96     $ 1.44  
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, 2015

3,455,935     $ 1.93            

Granted

                 

Exercised

                     

Forfeited

                     
                           

Outstanding and exercisable at March 31, 2015

    3,455,935     $ 1.93   3.0   $