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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2013
Summary of Stock Option Activity

The following table is a summary of stock option activity from January 1, 2013 through March 31, 2013:

 

 

Stock Options  

 

 

 

Number
of Shares  

Exercise Price
Per Share  

Weighted-
Average
Exercise Price
Per Share  

 

 

 

 

Outstanding at December 31, 2012             

              3,530,085             

$0.11 - $0.62

$              0.24             

Granted             

              2,025,000             

0.05

              0.05             

Canceled/forfeited             

              (338,335              )

0.11 - 0.48

              0.27             

 

 

 

 

Outstanding at March 31, 2013             

              5,216,750             

$0.05 - $0.62

$              0.16             

 

 

 

 

 

Options Outstanding

The following information applies to options outstanding at March 31, 2013:

 

Range of Exercise Prices 

Outstanding at
March 31,

2013 

Weighted-

Average

Remaining

Contractual

Life 

Weighted-

Average

Exercise

Price 

Exercisable at

March 31,

2013 

Weighted-

Average

Exercise

Price 

 

 

 

 

 

 

$0.01 - 0.19             

              3,420,000             

6.5

$0.08

              312,361             

$0.16

0.20 - 0.29             

              738,000             

3.9

$0.25

              620,360             

$0.25

0.30 - 0.39             

              772,500             

4.0

$0.35

              611,111             

$0.35

0.40 - 0.49

              276,250             

1.8

$0.46

              276,250             

$0.46

0.60 - 0.69

              10,000             

0.5

$0.62

              10,000             

$0.62

 

 

 

 

 

 

 

              5,216,750             

5.5

$0.16

              1,830,082             

$0.30