Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2013

Variables Used in Black-Scholes Option Pricing Model to Determine Estimated Grant Date Fair Value for Options Granted

The following are the variables used in the Black-Scholes option pricing model to determine the estimated grant date fair value for options granted under the Company’s incentive plans for each of the years presented:

	2013	2012	2011
Expected volatility	83% - 104%	76% - 87%	74% - 88%
Weighted-average volatility	93%	80%	81%
Expected dividends	—  %	—  %	—  %
Expected term (in years)	3.8 – 6.6	5.0 - 6.6	5.0 - 6.7
Risk-free rate	0.68% - 2.45%	0.57% - 1.26%	1.17% - 2.24%

Summary of Options Activity Under Incentive Plans

The table below presents a summary of our option activity as of December 31, 2013 and changes during the year then ended:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Yrs)		Aggregate Intrinsic Value
Outstanding at January 1, 2013		1,825,320	$	1.88
Granted		928,000		1.57
Exercised		(117,030)		1.00
Forfeited or expired		(341,080)		1.08
Outstanding at December 31, 2013		2,295,210	$	1.51		5.0	$	3,468,464
Exercisable at December 31, 2013		609,090	$	2.00		2.6	$	621,573