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Common Stock Warrants, Stock Options, and Employee Stock Benefit Plan
9 Months Ended
Jun. 30, 2013
Senior Secured Revolving Credit Facility Loan Net Of Unamortized Discount Of  
Common Stock Warrants, Stock Options, and Employee Stock Benefit Plan

Common Stock Warrants. As of June 30, 2013, warrants to purchase a total of 44,737,000 shares of the Company’s common stock were outstanding, with a weighted average exercise price of $0.16 per share and exercise prices ranging from $0.09 per share to $0.55 per share. As of September 30, 2012, warrants to purchase a total of 28,416,000 shares of the Company’s common stock were outstanding, with a weighted average exercise price of $0.21 per share and exercise prices ranging from $0.07 per share to $13.00 per share.

 

Stock Options.  As of June 30, 2013, the Company had 51.0 million options outstanding with a weighted average exercise price of $0.21, and 41.4 million options exercisable with a weighted average exercise price of $0.23.   During the nine months ended June 30, 2013, there were 4.7 million options granted and 1.1 million options exercised. As of September 30, 2012, the Company had 54.8 million options outstanding with a weighted average exercise price of $0.24, and 34.5 million options exercisable with a weighted average exercise price of $0.31.  The unvested options outstanding and options exercisable had no aggregate intrinsic value as of June 30, 2013, as compared to a value of $115,000 and $297,000, respectively as of September 30, 2012.  At June 30, 2013, the total compensation costs related to non-vested option awards not yet recognized was $654,000.  The weighted-average remaining vesting period of non-vested options at June 30, 2013 was 0.9 years.

 

       Employee Stock Benefit Plan.    The Company has established an employee retirement plan (the “ESBP”). This plan provides for annual contributions to the Company’s Employee Stock Bonus Trust (“SBT”) to be determined by the Board of Directors and which will not exceed 15% of total payroll.  As of June 30, 2013, the Company has not made any contributions to the SBT related to Fiscal 2013.  Relating to Fiscal 2012 the Company made a contribution of 6.0 million shares of common stock with an estimated market value of $600,000 to the SBT.