Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE STOCK OPTIONS (Tables)

v2.4.0.8
EMPLOYEE STOCK OPTIONS (Tables)
9 Months Ended
Sep. 30, 2014
SCHEDULE OF EMPLOYEE STOCK OPTIONS  
Schedule of assumptions used to determine the fair value of options granted

The following are the assumptions used to determine the fair value of options granted during the nine months ended September 30, 2014 and 2013:

 

 

 

2014

 

2013

Expected volatility

 

108% - 114%

 

128% - 138%

Weighted-average volatility

 

109%

 

137%

Expected dividends

 

0

 

0

Expected term (in years)

 

6.5

 

6.5

Risk-free interest rate

 

1.58% - 1.75%

 

0.76% - 1.49%

Schedule of stock option activity

A summary of the stock option activity as of September 30, 2014, and changes during the nine months then ended is as follows:

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

 

 

Exercise

 

Contractual

 

Intrinsic

 

 

 

Shares

 

Price

 

Term

 

Value

Outstanding, December 31, 2013

2,647,500

 

 $        4.01

 

 

 

 

Granted

 

 

28,000

 

         14.98

 

 

 

 

Forfeited

 

 

(172,000)

 

           5.44

 

 

 

 

Exercised

 

 

(149,000)

 

           2.84

 

 

 

 

Outstanding, September 30, 2014

2,354,500

 

 $        4.11

 

8.0 Years

 

$ 25,043,460

Exercisable, September 30, 2014

546,300

 

 $        3.35

 

7.7 Years