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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Assumptions in Computing Option Fair Value

The fair value of all options granted during the three months ended March 31, 2015 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, 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   

Granted

  —        —     

Exercised

  (218,010 $ 1.50   

Forfeited

  —        —     

Expired

  —        —     
  

 

 

    

 

 

       

Outstanding March 31, 2015

  2,926,983    $ 2.45    .89 Years $ 7,171,108   

Exercisable at March 31, 2015

  2,611,319    $ 2.36    $ 6,162,713   

Unvested at March 31, 2015

  315,664