Stockholders' Equity (Tables)

6 Months Ended

Jun. 27, 2015

Summary of Stockholders' Equity Transactions

The following is a summary of stockholders’ equity transactions for the six months ended June 27, 2015:


	Convertible									Capital in
	Preferred Stock				Common Stock					Excess of		Accumulated
	Shares		Amount		Shares			Amount		Par Value		Deficit			Total
Balance at December 31, 2014		328,925	$	—		14,264,041		$	14,000	$	286,356,000	$	(282,368,000	)	$	4,002,000
Issuance of common stock (net of costs)						3,062,790			3,000		4,593,000					4,596,000
Issuance of common stock from exercise of outstanding warrants						916,858			1,000		1,686,000					1,687,000
Reclassification of warrant liability upon exercise											669,000					669,000
Stock-based compensation						(40,000	)				1,085,000					1,085,000
Net loss													(3,830,000	)		(3,830,000	)

Balance at June 27, 2015		328,925	$	—		18,203,689		$	18,000	$	294,389,000	$	(286,198,000	)	$	8,209,000

Summary of Stock Option Transactions under Stock Option Plans

The following is a summary of stock option transactions under our stock option plans at June 27, 2015:


	Number of Shares			Price Per Share	Weighted Average Exercise Price		Number of Options Exercisable		Weighted Average Exercise Price
Balance at December 31, 2014		1,200,948		$ 2.12 - $ 159.60	$	5.32		624,282	$	8.21
Granted		—				—
Exercised		—				—
Canceled		(68,745	)	2.12 - 159.60		21.18

Balance at June 27, 2015		1,132,203		$2.12 – $114.00	$	4.36		625,121	$	6.14

Summary of Restricted Stock Award Transactions

The following is a summary of our restricted stock award transactions at June 27, 2015:


	Number of Shares			Weighted Average Grant Date Fair Value
Balance nonvested at December 31, 2014		1,057,535		$	2.80
Granted		15,000			1.08
Vested		(9,583	)		3.51
Forfeited		(55,000	)		2.81

Balance nonvested at June 27, 2015		1,007,952		$	2.77

Summary of Outstanding Warrants

The following is a summary of outstanding warrants at June 27, 2015:


		Common Shares
		Total		Currently Exercisable		Price per Share		Expiration Date
(1)	Warrants related to February 2012 financing		419,451		419,451	$	16.20	February 22, 2017
(2)	Warrants related to November 2012 financing		8,333		8,333		4.50	November 26, 2015
(3)	Warrants related to December 2012 financing		15,625		15,625		4.50	December 18, 2015
(4)	Warrants related to April 2013 financing		256,913		256,913		5.45	April 26, 2019
(5)	Warrants related to August 2013 financing		117,670		117,670		2.25	August 5, 2016
(6)	Warrants related to August 2013 financing		6,117,383		6,117,383		1.63	August 9, 2018
(7)	Warrants related to August 2013 financing		1,389,802		1,389,802		1.63	August 9, 2015
(8)	Warrants related to February 2015 agreement		45,843		0		3.00	February 13, 2020
(9)	Warrants related to March 2015 financing		1,531,395		1,531,395		1.63	September 25, 2020
(10)	Warrants related to March 2015 financing		153,140		0		2.04	March 20, 2020

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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