Quarterly report pursuant to Section 13 or 15(d)

Stockholders’ Equity (Deficit) (Tables)

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Stockholders’ Equity (Deficit) (Tables)
 6 Months Ended
Jun. 30, 2015
Stock Option Activity

The following table summarizes stock option activity for the six months ended June 30, 2015:

 

    Options  
Outstanding at December 31, 2014     5,399,320  
Granted     2,301,500  
Exercised     -  
Canceled/forfeited/expired     (2,733,326 )
Outstanding at June 30, 2015     4,967,494  

 
Stock-Based Compensation Expense

The impact on our results of operations of recording stock-based compensation expense for the three and six months ended June 30, 2015 and 2014 were as follows:

 

    Three months ended June 30,     Six months ended June 30,  
    2015     2014     2015     2014  
General and administrative   $ 219,798     $ 197,763     $ 406,603     $ 476,663  
Sales and marketing     54,385       46,110       113,629       87,475  
Engineering, research, and development     26,410       15,148       44,451       10,264  
    $ 300,593     $ 259,021     $ 564,683     $ 574,402  
Valuation Assumptions

The following table summarizes restricted stock unit activity under our stock-based plans as of and for the six months ended June 30, 2015:

 

    Shares     Weighted Average Exercise Price     Weighted Average Remaining Contractual Term (Years)     Aggregate Intrinsic Value  
                         
Outstanding at December 31, 2014     591,436     $ -       9.75     $ 703,809  
Granted     62,501     $ -       -     $ -  
Exercised       -   $ -       -     $ -  
Canceled/forfeited/expired     -     $ -       -     $ -  
Outstanding at June 30, 2015     653,937     $ -       9.28     $ 784,724  
                                 
Expected to vest at June 30, 2015     610,055     $ -       9.27     $ 732,066  
Exercisable at June 30, 2015     475,518     $ -       9.23     $ 570,621  
Unvested at June 30, 2015     178,419     $ -       9.42      $ 214,103  
Unrecognized expense at June 30, 2015   $ 245,499                          

 

 

 

    Three months ended June 30,     Six months ended June 30,  
    2015     2014     2015     2014  
General and administrative   $ 121,603     $ -     $ 201,781     $ -  
    $ 121,603     $ -     $ 201,781     $ -  

 
Summary of non-employee warrant activity

 

    Number  
    Outstanding  
Outstanding at December 31, 2014     150,001  
Granted     -  
Exercised     -  
Canceled/forfeited/expired     -  
Outstanding at June 30, 2015     150,001  

 
Restricted Stock Units (RSUs) [Member]  
Stock Option Activity UPDATE FOR FINAL TEXT
Stock-Based Compensation Expense UPDATE FOR FINAL TEXT