Annual report pursuant to Section 13 and 15(d)

Stock Compensation Plan (Tables)

v2.4.0.8
Stock Compensation Plan (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Assumptions Used to Estimate the Fair Value of Stock Options Granted

The following table summarizes the assumptions used to estimate the fair value of stock options granted during the Years Ended December 31, 2013 and 2012:

 

     2013    2012

Expected dividend yield

   0%    0%

Weighted-average expected volatility

   159% - 166%    161%

Weighted-average risk-free interest rate

   1.86% - 2.80%    1.96%

Expected life of options

   10 years    2-10 years
Summary of Stock Option Activity

The following table represents stock option activity as of and for the two years ended December 31, 2013:

 

     Number of
Options
    Option
Price Per
Share
     Weighted
Average
Exercise
Price
 

Outstanding at December 31, 2011

     725,173      $ 1.50 -17.00       $ 4.85   

Forfeited

     (164,750 )     1.50 -14.00         3.42   

Granted

     100,000        1.20         1.20   

Exercised

     —         —          —    
  

 

 

      

Outstanding at December 31, 2012

     660,423      $ 1.20 -17.00       $ 4.70   

Forfeited

     (56,050 )     1.20 - 5.40         2.19   

Granted

     61,000        2.75 - 3.55         3.13   

Exercised

     (31,533 )     1.20 - 1.50         1.26   
  

 

 

      

Outstanding at December 31, 2013

     633,840      $ 1.20 -17.00       $ 4.88   
  

 

 

      

Exercisable at December 31, 2013

     497,157      $ 1.20 -17.00       $ 5.47