Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Stockholders Equity Tables

Preferred Stock

The Company has certificates of designation of eleven separate series as summarized below as of December 31, 2013 (in thousands).

	Number of Shares Issued and Outstanding
	December 31, 2013		December 31, 2012		Par Value		Conversion Ratio
Series "A"		-		-	$	0.0001		N/A
Series "B"		1		1		0.0001	1:1
Series "C"		1		-		0.0001	1:1
Series “D"		1,227,582		-		0.0001	10:1
Series “D-1"		59,265		-		0.0001	10:1
Series “E”		-		-		0.0001	1:1
Series “F"		-		-		0.0001	1:1
Series “F-1"		156,250		-		0.0001	1:1
Series “H"		459,043		-		0.0001	10:1
Series “I”		119,760		-		0.0001	20:1

Summary of warrant activity

A summary of warrant activity for the years ended December 31, 2013 and 2012 is presented below:

	Warrants			Weighted Average Exercise Price		Total Intrinsic Value
Outstanding as of January 1, 2012		54,762		$	178.79	$	-
Issued		495,902			7.06
Exercised		-			-
Cancelled		-			-
Outstanding as of December 31, 2012		550,664			24.14		145
Issued		-			-
Converted		(474,266	)		6.53
Exercised		(9,391	)		6.53
Cancelled		(1,744	)		105.10
Outstanding as of December 31, 2013		65,263		$	5.83	$	-

Fair value of stock-based compensation

The fair value of options granted in 2013 was estimated using the following assumptions:

	For the Years Ended December 31,
Stock option plans	2013			2012
Exercise price	$	7.08-$8.24		$	9.80 - $228.00
Expected stock price volatility		78.9% - 86.4	%		91.3% - 122.7	%
Risk-free rate of interest		0.36% - 2.84	%		0.62% - 0.74	%
Expected Term (years)		1.0 - 10.0			5.0

Summary of option activity

A summary of option activity under the Company’s employee stock option plan for the years ended December 31, 2012 and 2013, is presented below:

	Number of Shares			Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of January 1, 2012		2,426		$	53.60	$	-		4.8
Employee Options granted		5,487			10.93				4.7
Employee Options exercised		-
Employee Options cancelled		(750	)		40.00
Outstanding as of December 31, 2012		7,163			22.35		-		4.4
Employee Options granted		1,976,714			7.08				9.3
Employee Options exercised		-
Employee Options cancelled		-
Outstanding as of December 31, 2013		1,983,877			7.14		1,935,990		9.2
Options vested and expected to vest		1,983,876			7.14		1,935,990		9.2
Options vested and exercisable		733,626		$	7.22	$	740,390		9.2

A summary of option activity under the Company’s non-employee stock option plan for the years ended December 31, 2012 and 2013, is presented below:

	Number of Shares		Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of January 1, 2012		-	$	-	$	-		-
Non-employee Options granted		-		-				-
Non-employee Options exercised		-
Non-employee Options cancelled		-		-
Outstanding as of December 31, 2012		-		-		-		-
Non-employee Options granted		30,000		7.08				-
Non-employee Options exercised		-
Non-employee Options cancelled		-
Outstanding as of December 31, 2013		30,000		7.08		29,400		9.3
Options vested and expected to vest		30,000		7.08		29,400		9.3
Options vested and exercisable		30,000	$	7.08	$	29,400		9.3

Summary of the restricted stock award activity

 A summary of the restricted stock award activity for the years ended December 31, 2012 and 2013 is as follows:

	Number of Units			Weighted Average Grant Day Fair Value
Nonvested at January 1, 2012		-		$	-
Granted		122,500			6.83
Nonvested at December 31, 2012		122,500			6.83
Granted		-			-
Vested		(120,250	)		(6.80	)
Forfeited		(2,000	)		(6.83	)
Nonvested at December 31, 2013		250		$	6.83