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Stock Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Weighted Average Assumptions Used to Value Stock Options on Date of Grant

The following table shows the weighted average assumptions used to value stock options on the date of grant, as follows:

 

     Nine Months Ended September 30,  
     2014  
     Employee     Non-Employees  

Expected stock price volatility

      55.17 %      62.71 % 

Risk-free interest rate

      1.33 %      0.10 % 

Expected life of option (in years)

      3.20        0.60   

Estimated dividend yield

      0.00 %      0.00 % 

Weighted-average grant date fair value per share

    $ 2.22      $ 2.06   
Summary of Aggregate Equity Compensation Plan Activity

The following table summarizes our aggregate Equity Compensation Plan activity:

 

     Number of
Options		     Weighted Average
Exercise Price		      Weighted Average
Contractual Term
(in years)		      Aggregate
Intrinsic Value(1)		  

Outstanding – December 31, 2013

      3,272,837           

Granted

      1,292,011           

Exercised

      (12,161 )         

Forfeited

      (69,591 )         

Expired

      (3,889 )         
  

 

 

          

Outstanding – September 30, 2014

      4,483,207      $ 5.41         7.73       $ (19,170,641 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

Exercisable – September 30, 2014

      2,302,226      $ 5.93         6.33       $ (11,046,080 ) 
  

 

 

    

 

 

     

 

 

     

 

 

  

 

(1) Intrinsic value is the excess of the fair value of the underlying common shares as of September 30, 2014 over the weighted-average exercise price. A negative intrinsic value indicates the weighted-average exercise price is greater than the fair value of the underlying common shares as of September 30, 2014.
(2) The number of stock options expected to vest takes into account an estimate of expected forfeitures.