Stock Options And Warrants |
9 Months Ended | ||
|---|---|---|---|
Sep. 30, 2011 | |||
| Stock Options And Warrants [Abstract] | |||
| Stock Options And Warrants |
On August 29, 2011 the Company held its Annual Meeting of Shareholders, at which time the shareholders approved an amendment to our Amended and Restated 2002 Stock Option and Incentive Plan (the "Plan") to increase the number of shares authorized for issuance from 625,000 to 1,125,000. From January 1, 2011 through the date of this filing, 128,425 stock options previously granted have vested and 107,788 have been forfeited. The Company recorded compensation expense related to stock option grants of $185,753 and $1,002,033 for the three and nine months ended September 30, 2011, respectively, compared to $108,501 and $569,572 for the three and nine months ended September 30, 2010, respectively. Compensation expense related to stock option grants is a non-cash expense and is included in research and development and selling, general and administrative expenses in the accompanying statements of operations.
As of the date of this filing, there are approximately 306,388 warrants outstanding and there are approximately 768,550 outstanding stock options that have been granted that have not been forfeited. The total number of outstanding warrants and unexercised stock options is 1,074,938. If all warrants and stock options were exercised, the total number of outstanding shares would be 6,758,012. |