Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE STOCK OPTIONS (Tables)

v2.4.0.8
EMPLOYEE STOCK OPTIONS (Tables)
6 Months Ended
Jun. 30, 2014
EMPLOYEE STOCK OPTIONS (Tables)  
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 six months ended June 30, 2014 and 2013:

 

 

 

2014

 

2013

Expected volatility

 

114%

 

128% - 138%

Weighted-average volatility

 

114%

 

137%

Expected dividends

 

0

 

0

Expected term (in years)

 

6.5

 

6.5

Risk-free interest rate

 

1.58%

 

0.76% - 1.49%

A summary of the stock option activity

A summary of the stock option activity as of June 30, 2014, and changes during the six 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

 

5,000

 

 

16.99

 

 

 

 

 

Forfeited

 

(62,000)

 

 

4.60

 

 

 

 

 

Exercised

 

(83,000)

 

 

3.00

 

 

 

 

 

Outstanding, June 30, 2014

 

2,507,500

 

$

4.06

 

8.2 Years

 

$

33,602,125

Exercisable, June 30, 2014

 

621,500

 

$

3.36

 

8.0 Years

 

 

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