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EQUITY AND SHARE-BASED COMPENSATION 10K (Tables)

12 Months Ended

Dec. 31, 2013

EQUITY AND SHARE-BASED COMPENSATION [Abstract]

Summary of stock option and warrant activity

A summary of stock option and warrant activity for 2013 and 2012 follows.

	Options							Equity and Liability Warrants
	Shares Under Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Shares Under Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Outstanding, January 1, 2012		192,944		$	54.00		6.3		233,947		$	208.00		1.7
Granted		29,060			30.00				423,782			20.00
Impact of anti-dilution clauses		-		NA					518,720		NA
Impact of amendment		-		NA					78,215		NA
Exercised		-		NA					(25,015	)		20.00
Forfeited, expired or cancelled		(52,750	)		68.00				(422,880	)		86.00
Outstanding, December 31, 2012		169,254			32.00		6.3		806,769			24.00		3.5
Granted or issued		40,000			15.38				1,859,111			6.85
Impact of anti-dilution clauses		-		NA					385,292		NA
Impact of amendment		-		NA					(496,061	)	NA
Exercised		-		NA					-			-
Forfeited, expired or cancelled		(29,817	)		50.58				(148,829	)		66.92
Outstanding, December 31, 2013		179,437		$	24.28		6.2		2,406,282		$	6.33		4.5
Exercisable, December 31, 2013		157,012		$	25.23		5.9		2,320,567		$	6.32		4.4

Share-based compensation expenses included in selling, general and administrative expenses

Share-based compensation expenses related to options are included in selling, general and administrative expenses in the statements of operations, and consisted of the following (in thousands):

	2013		2012
Consultants	$	16	$	42
Directors		262		285
Employees		127		152
Executive officers		133		444
Total share-based compensation expense, options	$	538	$	923

Summary of option activity

A summary of stock option and warrant activity for 2013 and 2012 follows.

	Options								Equity and Liability Warrants
	Shares Under Options				Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Shares Under Warrants				Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Outstanding, January 1, 2012		192,944			$	54.00		6.3		233,947			$	208.00		1.7
Granted		29,060				30.00				423,782				20.00
Impact of anti-dilution clauses		-		NA						518,720		NA
Impact of amendment		-		NA						78,215		NA
Exercised		-		NA						(25,015	)			20.00
Forfeited, expired or cancelled		(52,750	)			68.00				(422,880	)			86.00
Outstanding, December 31, 2012		169,254				32.00		6.3		806,769				24.00		3.5
Granted or issued		40,000				15.38				1,859,111				6.85
Impact of anti-dilution clauses		-		NA						385,292		NA
Impact of amendment		-		NA						(496,061	)	NA
Exercised		-		NA						-				-
Forfeited, expired or cancelled		(29,817	)			50.58				(148,829	)			66.92
Outstanding, December 31, 2013		179,437			$	24.28		6.2		2,406,282			$	6.33		4.5
Exercisable, December 31, 2013		157,012			$	25.23		5.9		2,320,567			$	6.32		4.4

Weighted-average assumptions used in valuing stock options

As of December 31, 2013, our outstanding options have no intrinsic value. The average fair value of options granted was $11.18 per share in 2013 and $20.00 per share in 2012. The following are the assumptions used in valuing stock options:

	2013	2012

Assumed volatility	119.2%-122.3%	104.4%-113.3%
	(121.1% weighted average)	(109.2% weighted average)
Assumed risk free interest rate	0.7%-1.4%	0.2%-1.0%
	(0.9% weighted average)	(0.9% weighted average)
Average expected life of options (in years)	6.2	6.1
Expected dividends	-	-
Forfeiture rate	5%	5%

Summary of information related to outstanding and exercisable options

The following table summarizes information related to outstanding and exercisable options:

		As of December 31, 2013
		Outstanding						Exercisable
Range of Exercise Prices		Shares Underlying Options		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Shares Underlying Options		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price

$	6.00 to $16.00		135,989		7.0	$	15.82		114,636		6.8	$	16.00
$	28.00		1,457		7.2		28.00		1,457		8.2		28.00
$	40.00		23,991		4.8		40.00		23,991		4.8		40.00
$	60.00		15,000		1.0		60.00		15,000		1.0		60.00
$	74.00		2,500		7.2		74.00		1,428		7.2		74.00
$	242.00		500		2.0		242.00		500		2.0		242.00
$	16.00 to $242.00		179,437		6.2	$	24.28		157,012		5.9	$	25.23

Summary of warrant activity

Certain equity issuance in 2013 and 2012 triggered the antidilution clauses in certain liability warrants and, as a result, we were required to lower the exercise price and increase the number of shares underlying certain liability warrants. In addition, certain amendments required us to lower the exercise price and increase the numbers of shares underlying certain warrants.

	Equity Warrants							Liability Warrants
	Shares Underlying			Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Shares Underlying			Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price
Balance, January 1, 2011		17,372			3.5	$	60.00		216,575			1.5	$	220.00
Granted		-					-		423,782					20.00
Impact of antidilution clauses		-					-		518,720				NA
Impact of amendment		-					-		78,215				NA
Exercised		-					-		(25,015	)				20.00
Forfeited, expired or cancelled		(11,616	)				44.00		(411,264	)				88.00
Outstanding, December 31, 2012		5,756			2.4		90.00		801,013			3.5		24.00
Granted		1,820,711					6.66		38,400					16.00
Impact of antidilution clauses		-					-		385,292				NA
Impact of amendment		(8,711	)				-		(487,350	)			NA
Exercised		-					-		-				NA
Forfeited, expired or cancelled		(2,722	)				137.60		(146,107	)				65.60
Outstanding, December 31, 2013		1,815,034			5.0	$	6.69		591,248			2.9	$	5.24
Exercisable, December 31, 2013		1,729,319			5.0	$	6.69		591,248			2.9	$	5.24

Summary of information related to outstanding and exercisable warrants

The following table summarizes information related to outstanding and exercisable warrants:

			Outstanding						Exercisable
Range of Exercise Prices		Type of Warrant	Shares Under Warrants		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Shares Under Warrants		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price
$	5.24	Liability		591,248		2.9	$	5.24		591,248		2.9	$	5.24
$	6.55	Equity		1,800,001		5.0		6.55		1,714,286		5.0		6.55
$	16.00 to $16.80	Equity		12,004		4.5		16.40		12,004		4.5		16.40
$	46.80	Equity		3,029		2.9		46.80		3,029		2.9		46.80
				2,406,282		4.5	$	6.33		2,320,567		4.4	$	6.32

- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References+ Details

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References+ Details

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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