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Stock Options (Tables)
9 Months Ended
Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Assumptions in Determining Fair Value Options Granted

The assumptions used principally in determining the fair value of options granted were as follows:

 

     September 30,
2013
 

Risk-free interest rate

     1.58

Expected dividend yield

     0

Expected term

     7.31   

Expected volatility

     95.19
Summary of Option Activity and Changes

A summary of option activity as of September 30, 2013 and changes for the period then ended are presented below:

 

Options

   Shares     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Term in
Years
     Aggregate
Intrinsic Value
 

Outstanding at December 31, 2012

     8,648,268      $ 1.29         

Granted

     1,395,000      $ 2.71         

Forfeited

     (2,065,294   $ 1.73         

Exercised

     (574,120   $ 0.79         
  

 

 

         

Outstanding at September 30, 2013

     7,403,854      $ 1.47         7.07       $ 3,795,072   
  

 

 

      

 

 

    

 

 

 

Vested at September 30, 2013

     4,252,351      $ 0.90         5.82       $ 3,558,913