Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of effect of share based compensation in the entity's statement of operations

The following table summarizes the effect of share based compensation in Wave's statement of operations for the years ended December 31:

	2014		2013		2012
Cost of Sales	$	13,845	$	28,084	$	47,371
Selling, General & Administrative	136,525		1,250,543		3,400,978
Research & Development	59,591		416,215		1,382,482
Total	$	209,961	$	1,694,842	$	4,830,831

Schedule of values for the variables that were used to value options granted

The following values for the indicated variables were used to value options granted during the years ended December 31:

	2014		2013		2012
	Stock Option Plans	Stock Purchase Plan	Stock Option Plans	Stock Purchase Plan	Stock Option Plans	Stock Purchase Plan
Expected Term	4.1 Years	6 Months	4.5 Years	6 Months	4.9 Years	6 Months
Risk-free Rate—range	1.41% - 1.80%	0.06% - 0.08%	0.65% - 1.68%	0.08% - 0.10%	0.57% - 1.20%	0.12% - 0.14%
Risk-free Rate—wt. avg.	1.57%	7.00%	1.09%	0.10%	0.85%	0.13%
Expected Volatility—range	81.8% - 87.4%	76.5% - 89.1%	88.4% - 98.1%	89.6% - 90.8%	91.8% - 96.0%	62.6% - 95.6%
Expected Volatility—wt. avg.	74.6%	84.2%	93.9%	90.5%	92.5%	75.5%
Dividend Yield	0%	0%	0%	0%	0%	0%

Summary of stock option activity

A summary of option activity for all Wave option plans through December 31, 2014 follows:

	2014				2013				2012
	Number of Shares		Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price		Number of Shares		Weighted Average Exercise Price
Balance at beginning of year	3,383,554		$	7.78	3,341,575		$	9.51	2,936,392		$	10.20
Granted	1,488,300		1.19		950,222		2.69		732,081		8.20
Forfeited	(593,476	)	1.73		(495,396	)	7.63		(123,875	)	10.88
Expired	(933,496	)	10.04		(399,864	)	10.55		(180,223	)	15.20
Exercised	—		—		(12,983	)	3.24		(22,800	)	3.48
Balance at end of year	3,344,882		5.20		3,383,554		7.78		3,341,575		9.51
Exercisable at end of year	1,833,719		8.04		2,304,154		$	8.94	2,129,510		$	8.68
Additional shares available for grant at end of year	2,190,092				2,371,405				1,146,683

Summary of information about stock options outstanding

The following table summarizes information about stock options outstanding under the Wave stock options plans as of December 31, 2014:

	Options Outstanding				Options Exercisable
Exercise Price Range	Number Outstanding	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$0.25 - $3.50	1,707,528	8.3	$	1.47	454,541	$	2.74
$3.51 - $7.00	353,806	7.2	$	3.97	176,448	$	4.12
$7.01 - $8.00	482,654	3.4	$	7.69	482,654	$	7.69
$8.01 - $12.00	483,055	5.7	$	9.13	402,237	$	9.19
$12.01 - $18.00	81,306	2.9	$	13.19	81,306	$	13.19
$18.01 - $20.00	236,533	5.6	$	18.36	236,533	$	18.36
	3,344,882				1,833,719