Quarterly report pursuant to Section 13 or 15(d)

Stock options and warrants (Tables)

v3.2.0.727
Stock options and warrants (Tables)
6 Months Ended
Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of the Income Statement Allocation of Stock-based Compensation
          Three Months Ended           Six Months Ended
     2015      2014       2015       2014
                     

Selling, general and administrative expenses

$ 303,644     $ 305,351     $  696,006     $  688,345

Research and development expenses

  43,937       21,041       84,977       41,068
     
                     

    Total stock-based compensation

  $ 347,581     $ 326,392     $  780,983     $  729,413
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

    (197,936 )     3.77              
                             

Outstanding at June 30, 2015

    2,750,822     $ 4.38       8.3     $  
                                 

Exercisable at June 30, 2015

    1,789,255     $ 5.69       7.8     $

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

    (287,670 )     2.03       1.56

Forfeited

    (164,915 )     2.06       1.48
                       

Nonvested at June 30, 2015

    961,567     $ 1.95     $ 1.42
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 June 30, 2015

    3,455,935     $ 1.93   2.8   $