XML 39 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2014
Stockholders' Equity [Abstract]  
Stock Compensation Plans Information Summary

Information with respect to the Stock Compensation Plans at December 31, 2014 is as follows:

1999 Option
Plan
2009 Stock
Compensation
Plan
2011 Stock
Compensation Plan
Individual Plans
Shares authorized for issuance4,0007,000150,000-
Option vesting periodQuarterly over 3
years
Quarterly over 3
years
Immediate/Quarterly
over 3 years
Quarterly over 3
years
Date adopted by shareholdersJune 2009-November 2011-
Option term7 Years7 Years7 Years7 Years
Options outstanding2542571,437125
Options exercisable2542556,483125
Weighted average exercise price$0.200$0.105$0.046$0.15
Key assumptions for fair value calculation, stock options

The fair value calculations are based on the following assumptions:

Year Ended
December 31, 2014
Year Ended
December 31, 2013
Risk free interest rate0.04% - 3.73%0.40% - 4.92%
Expected life (years)3.26 - 7.002.82 - 7.00
Expected volatility91.99% - 198.38%91.99% - 198.38%
Expected dividendsNoneNone
Estimated average forfeiture rate10%10%
Allocation of stock-based compensation expense related to stock option grants

There were no stock options exercised during the years ended December 31, 2014 and 2013.

Year Ended
December 31, 2014
Year Ended
December 31, 2013
Research and development
$
77
$
262
Sales and marketing
72
100
General and administrative
134
410
Director options
15
47
Stock-based compensation expense included in operating expenses
$
298
$
819
Summary of option activity

The summary activity for the Company's 2009 and 2011 Stock Compensation Plans, the 1999 Option Plan and Individual Plans is as follows:

December 31, 2014December 31, 2013
SharesWeighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Weighted
Average
Remaining
Contractual
Life
SharesWeighted
Average
Exercise
Price
Aggregate
Intrinsic
Value
Weighted
Average
Remaining
Contractual
Life
Outstanding at beginning of period69,537 $0.0544,529 $0.05
Granted4,500 $0.02
$
27
26,553 $0.04-
Forfeited/ Cancelled(2,025)$0.11(1,545)$0.11
Outstanding at period end72,012 $0.04-4.1869,537 $0.05-5.02
Options vested and exercisable at period end57,058 $0.05
$
7
3.8643,379 $0.05-4.61
Weighted average grant-date fair value of
options granted during the period
$0.04$0.04
Summary of the significant ranges of outstanding and exercisable options

The following table summarizes significant ranges of outstanding and exercisable options as of December 31, 2014:

Range of Exercise PricesOptions OutstandingOptions Exercisable
Options
Outstanding
Weighted
Average
Remaining
Contractual Life
(in years)
Weighted
Average
Exercise
Price
Number
Outstanding
Weighted
Average
Exercise
Price
$0.00 - $0.5072,0124.18$0.0457,058$0.05
Summary of the status of the Company's non-vested shares

A summary of the status of the Company's non-vested shares as of December 31, 2014 is as follows:

Non-vested SharesSharesWeighted Average
Grant-Date
Fair Value
Non-vested at January 1, 201326,158 $0.04
Granted4,500 $0.04
Forfeited(598)$0.03
Vested(15,106)$0.04
Non-vested at December 31, 201414,954 $0.05
Information with respect to the classes of Preferred Stock

Information with respect to the classes of Preferred Stock at December 31, 2014 is as follows:

Class of
Preferred
Stock
Issue DateAnnual
Dividend
Annual
Dividend
Payable, in
Cash or In
Kind
Liquidation
Preference
Conversion
Price
Total
Preferred
Shares
Outstanding
Common
Shares to be
issued if
Fully
Converted
Series A-1May 20088%Quarterly in
Arrears
$ 1.00$ 0.14008756,252
Series BAugust 201010%Quarterly in
Arrears
$ 1.50$ 0.043312,251282,750
Series CDecember/March
2011
10%Quarterly in
Arrears
$ 1.50$ 0.02254,975221,104
Series D-1November
2012/May and
December 2013
10%Quarterly in
Arrears
$ 1.00$ 0.02255,800257,773
Series D-2November
2012/May and
December 2013
10%Quarterly in
Arrears
$ 1.00$ 0.05005,720114,400
Total882,279
Information with respect to dividends issued on the Company's preferred stock

Information with respect to dividends issued on the Company's Preferred stock for the years ended December 31, 2014 and 2013 is as follows:

December 31,December 31,
2014201320142013
DividendsBeneficial Conversion Feature
Related to dividends
Series A-1
$
82
$
78
$
-
$
-
Series B1,1491,044--
Series C468433152191
Series D-147213119559
Series D-2541402--
Total
$
2,712
$
2,088
$
347
$
250
Summary of warrants excercises

Warrants:

Summary of Warrant exercises in 2014 and 2013:

December 31,2014December 31, 2013
WarrantsCommon Shares
Issued
Cash receivedWarrantsCommon Shares
Issued
Cash received
--
$
-
1,3001,300
$
29
--
$
-
11,1112,283
$
-
Total--
$
-
12,4113,583
$
29
Summary of warrants issued to related party and other

Summary of warrants issued in 2014 and 2013:

December 31, 2014December 31, 2013
Related PartyOtherTotalRelated PartyOtherTotal
Warrants issued in
connection with
Notes
---19,5842,08321,667
Warrants issued with
purchase of Series D
Preferred
6,15915,25921,4189,5619,42818,989
Warrants issued in
the December Series
D Preferred
exchange
2,8277,62710,454
Warrants issued with
line of credit
-11,56411,564---
Contingent Warrants
issued
34,06286,723120,785---
Total40,221113,546153,76731,97219,13851,110
Summary of the warrants issued

A summary of the outstanding warrants is as follows:

December 31, 2014December 31, 2013
WarrantsWeighted
Average
Exercise Price
WarrantsWeighted
Average
Exercise Price
Outstanding at beginning of period77,155 $ 0.0289151,722 $ 0.0269
Issued153,767 $ 0.027551,110 $ 0.0283
Exercised
$
-
(12,411)$ 0.0225
Expired(17,401)$ 0.0225(113,266)$ 0.0230
Outstanding at end of period213,521 $ 0.028477,155 $ 0.0289
Exercisable at end of period213,521 $ 0.028477,155 $ 0.0289
Status of the warrants outstanding

A summary of the status of the warrants outstanding as of December 31, 2014 is as follows:

Number of Warrants
Outstanding and Exercisable
Weighted Average
Remaining Life
Weighted Average Exercise
Price per share
8,6431.95$ 0.0275
204,8780.52$ 0.0500
213,5211.89$ 0.0284