Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Deficit) (Tables)

v2.4.0.8
Stockholders' Equity (Deficit) (Tables)
 6 Months Ended
Jun. 30, 2013
Schedule of share activity

The following table summarizes stock option activity for the six months ended June 30, 2013:

 

                Weighted -        
          Weighted -     Average        
          Average     Remaining     Aggregate  
    Number     Exercise Price     Contractual     Intrinsic  
    Outstanding     Per Share     Life (Years)     Value  
Outstanding at January 1, 2013     1,955,000     $ 0.77       4.44     $ -  
Granted     30,387,825     $ 0.31       9.86          
Exercised     -     $ -       -          
Canceled/forfeited/expired     (240,001 )   $ 0.74       6.39          
Outstanding at June 30, 2013     32,102,824     $ 0.33       9.55     $ 3,237,902  
                                 
Options vested and exercisable at June 30, 2013     4,467,511     $ 0.40       8.49     $ 423,433  
                                 
Unrecognized expense at June 30, 2013   $ 6,222,535                          

  
Schedule of shares outstanding

 

The following table summarizes information concerning options outstanding at June 30, 2013:

 

Awards Breakdown by Range as at June 30, 2013
    Outstanding   Vested
Exercise Price   Outstanding Stock Options   Weighted Average Remaining Contractual Life   Weighted Average Outstanding Exercise Price   Vested Stock Options   Weighted Average Remaining Vested Contractual Life   Weighted Average Vested Stock Price
$     0.25 to $0.69       31,607,824       9.61     $ 0.31       4,173,973       8.64     $ 0.31  
$     1.16 to $1.75       495,000       6.09     $ 1.65       293,538       6.43     $ 1.68  

 

The following table summarizes information concerning options outstanding at December 31, 2012:

 

Awards Breakdown by Range as at December 31, 2012
    Outstanding   Vested
Exercise Price   Outstanding Stock Options   Weighted Average Remaining Contractual Life   Weighted Average Outstanding Exercise Price   Vested Stock Options   Weighted Average Remaining Vested Contractual Life   Weighted Average Vested Stock Price
$     0.32 to $0.69       1,410,000       3.71     $ 0.43       374,997       2.98     $ 0.32  
$     1.16 to $1.80       545,000       6.33     $ 1.66       181,455       6.30     $ 1.69  

 
Schedule of range of assumptions

 

    Six months ended June 30,  
    2013     2012  
Expected volatility     122% - 132%   65% to 73.4%  
Risk-free interest rate   0.22% to 1.50%     0.39% to 0.51%  
Forfeiture rate     16.0%     0.0%
Expected dividend rate     0.0%     0.0%  
Expected life(years)   1.50 to 6.02     3.00 to 4.00  

 
Non-Employee Warrant [Member]
  
Schedule of share activity

A summary of non-employee warrant activity under the 2010 Plan from December 31, 2012 to June 30, 2013 is presented below:

 

          Weighted -     Average        
          Average     Remaining     Aggregate  
    Number     Exercise Price     Contractual     Intrinsic  
    Outstanding     Per Share     Life (Years)     Value  
Outstanding at December 31, 2012     905,000     $ 0.33       4.10     $ -  
Granted     -     $ -       -          
Exercised     -     $ -       -          
Canceled/forfeited/expired     -     $ -       -          
Outstanding at June 30, 2013     905,000     $ 0.33       3.60     $ 81,000  
                                 
Warrants vested and exercisable at June 30, 2013     736,138     $ 0.33       3.32     $ 65,999  

 
Schedule of shares outstanding

The following table summarizes information concerning warrants outstanding at June 30, 2013:

 

Awards Breakdown by Range as at June 30, 2013  
      Outstanding     Vested  
Exercise Price     Outstanding Warrants     Weighted Average Remaining Contractual Life     Weighted Average Outstanding Exercise Price     Vested Warrants     Weighted Average Remaining Vested Contractual Life     Weighted Average Vested Stock Price  
$ 0.32       900,000       3.61     $ 0.32       733,326       3.32     $ 0.32  
$ 1.75       5,000       3.02     $ 1.75       2,812       3.02     $ 1.75  

 

The following table summarizes information concerning warrants outstanding at December 31, 2012:

 

      Outstanding     Vested  
Exercise Price     Outstanding Warrants     Weighted Average Remaining Contractual Life     Weighted Average Outstanding Exercise Price     Vested Warrants     Weighted Average Remaining Vested Contractual Life     Weighted Average Vested Stock Price  
$ 0.32       900,000       4.10     $ 0.32       620,827       3.76     $ 0.32  
$ 1.75       5,000       3.52     $ 1.75       2,187       3.52     $ 1.75