Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v2.4.1.9
Stock Based Compensation (Tables)
3 Months Ended
Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
The following is a summary of the Company’s stock option activity during the three months ended March 31, 2015:
 
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
Weighted
 
Weighted
 
Average
 
 
 
 
 
 
 
 
 
Average
 
Average
 
Remaining
 
 
 
 
 
 
Number of
 
Exercise
 
Grant Date
 
Life In
 
Intrinsic
 
 
 
Options
 
Price
 
Fair Value
 
Years
 
Value
 
Outstanding at January 1, 2015
 
 
1,607,075
 
$
4.41
 
$
2.47
 
 
9.0
 
$
-
 
Granted
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
 
Forfeited
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Outstanding at March 31, 2015
 
 
1,607,075
 
$
4.41
 
$
2.47
 
 
8.9
 
$
8,089,568
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable at January 1, 2015
 
 
550,298
 
$
4.33
 
$
2.41
 
 
9.1
 
$
-
 
Vested
 
 
103,787
 
 
4.61
 
 
-
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
 
-
 
 
-
 
Exercisable at March 31, 2015
 
 
654,085
 
$
4.37
 
$
2.44
 
 
8.9
 
$
3,314,780
 
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
The following table presents information related to stock options outstanding and exercisable at March 31, 2015:
 
Options Outstanding
 
Options Exercisable
 
Exercise Price
 
Outstanding Number of Options
 
Weighted Average Remaining Life In Years
 
Exercisable Number of Options
 
 
 
 
 
 
 
 
 
 
 
 
 
$
1.68
 
 
275,689
 
 
8.7
 
 
103,383
 
 
2.49
 
 
326,754
 
 
8.8
 
 
129,777
 
 
3.63
 
 
51,958
 
 
8.9
 
 
51,958
 
 
4.99
 
 
99,214
 
 
9.0
 
 
39,063
 
 
6.00
 
 
853,460
 
 
9.0
 
 
329,904
 
 
 
 
 
1,607,075
 
 
8.9
 
 
654,085
 
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]
At March 31, 2015, the unamortized value of the RSUs was $8,223,004. The unamortized amount will be expensed over a weighted average period of 3.44 years. A summary of the activity related to RSUs for the three months ended March 31, 2015 is presented below:
 
 
 
Total
 
Weighted
 Average Grant 
Date Fair Value
 
Outstanding at January 1, 2015
 
733,628
 
$
10.49
 
RSUs granted
 
330,173
 
$
9.89
 
RSUs forfeited
 
(58,522)
 
$
8.66
 
Shares of common stock issued in exchange for RSUs
 
(42,470)
 
$
12.08
 
Outstanding at March 31, 2015
 
962,809
 
$
10.33
 
 
 
 
 
 
 
 
Vested at January 1, 2015
 
6,349
 
$
9.94
 
RSUs vested
 
130,772
 
$
11.15
 
RSUs forfeited
 
-
 
$
-
 
Shares of common stock issued in exchange for RSUs
 
(42,470)
 
$
12.08
 
Vested at March 31, 2015
 
94,651
 
$
10.65
 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
The following tables summarize total stock-based compensation costs recognized for the three months ended March 31, 2015 and 2014:
 
 
 
Three Months Ended March 31,
 
 
 
2015
 
2014
 
Stock options
 
$
259,515
 
$
431,095
 
RSUs
 
 
1,333,875
 
 
-
 
IR warrants
 
 
85,831
 
 
61,028
 
Total
 
$
1,679,221
 
$
492,123
 
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]
The total amount of stock-based compensation was reflected within the statements of operations as:
 
 
 
Three Months Ended March 31,
 
 
 
2015
 
2014
 
Research and development
 
$
1,034,318
 
$
143,767
 
General and administrative
 
 
443,647
 
 
337,382
 
Sales and marketing
 
 
201,256
 
 
10,974
 
Total
 
$
1,679,221
 
$
492,123