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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Assumptions in Computing Option Fair Value

The fair value of all options granted during the years ended December 31, 2014 and 2013 was determined using the following assumptions:

 

Expected volatility

70% — 90%

Risk free interest rate

0.80% — 1.75%

Expected term (years)

3.0 — 5.0

Dividend yield

0%
Summary of Activity Related to Options Granted

Stock option activity is as follows:

 

     Number of
Options
     Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual Life
     Aggregate Fair
Value
 

Outstanding December 31, 2012

     3,640,324       $ 1.76         2.69 Years       $ 6,406,970   

Granted

     446,000       $ 2.61         

Exercised

     (30,500    $ 2.67         

Forfeited

     (10,500    $ 2.35         

Expired

     —           —           
  

 

 

    

 

 

       

Outstanding December 31, 2013

  4,045,324    $ 1.85      2.05 Years    $ 7,483,849   

Granted

  252,000    $ 3.80   

Exercised

  (1,138,331 $ 0.78   

Forfeited

  (14,000 $ 2.43   

Expired

  

 

 

    

 

 

       

Outstanding December 31, 2014

  3,144,993    $ 2.39      1.48 Years    $ 7,516,533   

Exercisable at, December 31, 2014

  2,829,329    $ 2.29    $ 6,479,163   

Unvested at December 31, 2014

  315,664