Note 5 - Stockholders' Equity

9 Months Ended

Sep. 30, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

5. Stockholders’ Equity

The Company has granted options to purchase shares of common stock and shares of restricted stock. The following is a summary of option award activity during the nine months ended September 30, 2013:

	Nine months ended September 30, 2013
	Total Stock Options Outstanding			Weighted Average Exercise Price per Share		Nonvested Stock Options			Weighted Average Grant Date Fair Value per Share
December 31, 2012		5,016,916		$	4.54		404,500		$	2.30
Granted		898,604			1.67		898,604			1.21
Vested		-			-		(506,875	)		1.69
Exercised		(9,681	)		1.28		-			-
Forfeited, Canceled		(296,927	)		3.66		(151,250	)		0.97
September 30, 2013		5,608,912		$	4.13		644,979		$	1.56

The following is a summary of outstanding stock options as of September 30, 2013:

	As of September 30, 2013
	Stock Options Outstanding		Vested Stock  Options
Quantity		5,608,912		4,963,933
Weighted-average exercise price	$	4.13	$	4.39
Weighted Average Remaining Contractual Term (in Years)		7.01		6.72
Intrinsic value	$	134,340	$	122,487

For the nine months ended September 30, 2013 and 2012, the Company granted 898,604 and 739,500 stock options, respectively, with a weighted-average grant date fair value of $1.21 and $1.53, respectively. For the nine months ended September 30, 2013 and 2012, the total fair value of options vested was $858,037 and $1,246,720, respectively. The total intrinsic value of options exercised for the nine months ended September 30, 2013 and 2012 was $5,736 and $1,500, respectively.

As of September 30, 2013, total compensation cost not yet recognized related to nonvested stock options was $606,070.  The Company expects to recognize this cost over a weighted average period of approximately 0.85 years.