XML 37 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule Of Share-Based Compensation Expense Included In Statements Of Operations

 

 

 

 

 

 

 

 

 

 

 

  

 

 

                              

 

 

 

 

Year ended December 31,

 

2013

 

2012

 

2011

Research and development expense

$

1,594,603 

 

$

765,126 

 

$

706,734 

Sales and marketing expense

 

327,199 

 

 

207,125 

 

 

121,384 

General and administrative expense

 

5,009,636 

 

 

2,581,163 

 

 

609,056 

 Total share-based expense

$

6,931,438 

 

$

3,553,414 

 

$

1,437,174 

  

 

  

 

 

                              

 

 

 

 

Summary Of Options And Warrants By Exercise Price Range

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options and Warrants Outstanding

 

Options and Warrants Exercisable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Range of Exercise Prices

 

Number Outstanding at December 31,  2013

 

Wtd. Avg. Exercise Price

 

Wtd. Avg. Remaining Contractual Life

 

Number Exercisable at December 31, 2013

 

Wtd. Avg. Exercise Price

 

Wtd. Avg. Remaining Contractual Life

 $0.54 - $0.88

 

1,960,208 

 

$

0.59 

 

2.29 

 

1,925,030 

 

$

0.59 

 

2.25 

$0.89 - $1.88

 

2,708,742 

 

$

1.00 

 

4.54 

 

1,771,182 

 

$

1.01 

 

4.35 

$2.01 - $3.13

 

3,019,371 

 

$

2.81 

 

5.21 

 

1,972,987 

 

$

2.84 

 

5.00 

$3.15 - $5.40

 

404,655 

 

$

4.30 

 

2.98 

 

274,624 

 

$

4.35 

 

1.14 

$5.70 - $8.60

 

337,470 

 

$

6.74 

 

1.10 

 

337,470 

 

$

6.74 

 

1.10 

$9.06 - $26.75

 

458,281 

 

$

11.08 

 

0.58 

 

458,281 

 

$

11.08 

 

0.58 

 

 

8,888,727 

 

$

2.41 

 

3.87 

 

6,739,574 

 

$

2.53 

 

3.39 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary Of Options Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Weighted-Average Exercise Price

 

Weighted-Average Remaining Contractual Term

 

Aggregate Intrinsic Value ($)

Outstanding at beginning of year

7,514,697 

 

$

3.26 

 

 

 

 

 

 

Granted

258,780 

 

 

3.32 

 

 

 

 

 

 

Exercised

(217,181)

 

 

1.21 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

Expired

(627,086)

 

 

8.36 

 

 

 

 

 

 

Outstanding at end of year

6,929,210 

 

 

2.87 

 

4.40 

years

 

$

15,433,876 

Exercisable at end of year

4,780,057 

 

$

3.24 

 

3.98 

years

 

$

10,042,794 

 

 

 

 

 

 

 

 

 

 

 

 

Summary Of Valuation Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

2013

 

2012

 

2011

Expected option term 1

5 to 6 years

 

6 to 7 years

 

5 to 6 years

Expected volatility factor 2

97.9% to 103.7%

 

90.2% to 94.8%

 

92.0% to 97.7%

Risk-free interest rate 3

0.8% to 1.8%

 

0.8% to 1.0%

 

0.9% to 2.0%

Expected annual dividend yield

0%

 

0%

 

0%

 

 

 

 

 

 

1 The expected term was generally determined based on historical activity for grants with similar terms and for similar groups of employees and represents the period of time that options are expected to be outstanding.  For employee options, groups of employees with similar historical exercise behavior are considered separately for valuation purposes.   For consultants, the expected term was determined based on the contractual life of the award.

 

2 The stock volatility for each grant is measured using the weighted average of historical daily price changes of our common stock over the most recent period equal to the expected option life of the grant.  

 

3 The risk-free interest rate for periods equal to the expected term of the share option is based on the U.S. Treasury yield curve in effect at the measurement date. 

Restricted Stock Units (RSUs) [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary Of Restricted Stock Activity

 

 

 

 

 

 

 

 

 

 

 

Non-vested Shares

 

Shares

 

Weighted-Average Grant-Date Fair Value

Non-vested at beginning of year

480,000 

 

$

0.99 

Granted

900,000 

 

 

3.90 

Vested

(496,666)

 

 

1.09 

Forfeited

 

 

Non-vested at end of year

883,334 

 

$

3.90 

 

 

 

 

 

 

Warrant [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary Of Non-Plan Options And Warrants

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

Weighted-Average Exercise Price

 

Weighted-Average Remaining Contractual Term

 

Aggregate Intrinsic Value ($)

Outstanding at beginning of year

2,967,911 

 

$

0.87 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

Exercised

(1,008,394)

 

 

0.99 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

Outstanding at end of year

1,959,517 

 

 

0.81 

 

1.96 

years

 

$

7,336,710 

Exercisable at end of year

1,959,517 

 

$

0.81 

 

1.96 

years

 

$

7,336,710 

 

 

 

 

 

 

 

 

 

 

 

 

Summary Of Valuation Assumptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31,

 

2013

 

2012

 

2011

Expected option term 1

4 to 5 years

 

4 to 6 years

 

4 to 5 years

Expected volatility factor 2

91.5% to 104%

 

93.4% to 104.3%

 

89.4% to 100.2%

Risk-free interest rate 3

0.5% to 1.0%

 

0.7% to 1.0%

 

0.9% to 2.4%

Expected annual dividend yield

0%

 

0%

 

0%

 

 

 

 

 

 

1 The expected term was determined based on the remaining contractual life of the award on the measurement date.

 

2 The stock volatility for each grant is measured using the weighted average of historical daily price changes of our common stock over the most recent period equal to the expected life of the award.  

 

3 The risk-free interest rate for periods equal to the expected term of the award is based on the U.S. Treasury yield curve in effect at the measurement date. 

 

Restricted Stock Award And Restricted Stock Unit [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary Of Restricted Stock Activity

 

 

 

 

 

 

 

 

 

 

 

Non-vested Shares

 

Shares

 

Weighted-Average Grant-Date Fair Value

Non-vested at beginning of year

953,842 

 

$

2.67 

Granted

259,290 

 

 

3.99 

Vested

(214,082)

 

 

3.22 

Forfeited

 

 

Non-vested at end of year

999,050 

 

$

2.90