Stock Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2015 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| 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 six months ended June 30, 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 | | $ | 2.46 | | | 9.0 | | $ | - | | | Granted | | | - | | | - | | | - | | | - | | | - | | | Exercised | | | (5,693) | | | (2.49) | | | (1.42) | | | - | | | - | | | Forfeited | | | (7,832) | | | (2.49) | | | (1.42) | | | - | | | - | | | Outstanding at June 30, 2015 | | | 1,593,550 | | $ | 4.42 | | $ | 2.47 | | | 8.6 | | $ | 5,227,000 | | | | | | | | | | | | | | | | | | | | | Exercisable at January 1, 2015 | | | 550,298 | | $ | 4.33 | | $ | 2.41 | | | 9.1 | | $ | - | | | Vested | | | 197,208 | | | 4.46 | | | - | | | - | | | - | | | Exercised | | | (5,693) | | | (2.49) | | | - | | | - | | | - | | | Forfeited | | | - | | | - | | | - | | | - | | | - | | | Exercisable at June 30, 2015 | | | 741,813 | | $ | 4.38 | | $ | 2.45 | | | 8.6 | | $ | 2,451,000 | | |
| 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 June 30, 2015:
| Options Outstanding | | Options Exercisable | | | | | | | Weighted Average | | | | | | | | Outstanding | | Remaining Life In | | Exercisable Number of | | | Exercise Price | | Number of Options | | Years | | Options | | | $ | 1.68 | | | 275,689 | | | 8.5 | | | 120,614 | | | | 2.49 | | | 313,229 | | | 8.5 | | | 142,907 | | | | 3.63 | | | 51,958 | | | 8.7 | | | 51,958 | | | | 4.99 | | | 99,214 | | | 8.7 | | | 44,076 | | | | 6.00 | | | 853,460 | | | 8.7 | | | 382,258 | | | | | | | 1,593,550 | | | 8.6 | | | 741,813 | |
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| Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] |
A summary of the activity related to RSUs for the six months ended June 30, 2015 is presented below:
| | | | | | Weighted | | | | | | | | Average Grant | | | | | Total | | Date Fair Value | | | Outstanding at January 1, 2015 | | | 733,628 | | $ | 10.49 | | | RSUs granted | | | 575,096 | | $ | 9.06 | | | RSUs forfeited | | | (102,541) | | $ | 9.74 | | | Shares of common stock issued in exchange for RSUs | | | (162,831) | | $ | 10.82 | | | Outstanding at June 30, 2015 | | | 1,043,352 | | $ | 9.73 | | | | | | | | | | | | Vested at January 1, 2015 | | | 6,349 | | $ | 9.94 | | | RSUs vested | | | 159,120 | | $ | 10.85 | | | RSUs forfeited | | | - | | $ | - | | | Shares of common stock issued in exchange for RSUs | | | (162,831) | | $ | 10.82 | | | Vested at June 30, 2015 | | | 2,638 | | $ | 10.52 | |
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| Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block] |
A summary of the activity related to PSUs for the six months ended June 30, 2015 is presented below:
| | | | | | Weighted | | | | | | | | Average Grant | | | | | Total | | Date Fair Value | | | Outstanding at January 1, 2015 | | | - | | $ | - | | | PSUs granted | | | 1,182,291 | | $ | 2.62 | | | PSUs forfeited | | | - | | $ | - | | | Shares of common stock issued in exchange for PSUs | | | - | | $ | - | | | Outstanding at June 30, 2015 | | | 1,182,291 | | $ | 2.62 | | | | | | | | | | | | Vested at January 1, 2015 | | | - | | $ | - | | | PSUs vested | | | 1,072 | | $ | 2.62 | | | PSUs forfeited | | | - | | $ | - | | | Shares of common stock issued in exchange for PSUs | | | - | | $ | - | | | Vested at June 30, 2015 | | | 1,072 | | $ | 2.62 | |
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| 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 and six months ended June 30, 2015 and 2014:
| | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | | 2015 | | 2014 | | 2015 | | 2014 | | | Stock options | | $ | 232,907 | | $ | 314,210 | | $ | 492,422 | | $ | 745,305 | | | RSUs | | | 843,260 | | | 7,626 | | | 2,177,135 | | | 7,626 | | | IR warrants | | | - | | | 98,545 | | | 85,831 | | | 159,573 | | | PSUs | | | 43,378 | | | - | | | 43,378 | | | - | | | Total | | $ | 1,119,545 | | $ | 420,381 | | $ | 2,798,766 | | $ | 912,504 | |
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| 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 June 30, | | Six Months Ended June 30, | | | | | 2015 | | 2014 | | 2015 | | 2014 | | | Research and development | | $ | 499,993 | | $ | 95,485 | | $ | 1,534,311 | | $ | 239,252 | | | General and administrative | | | 489,938 | | | 155,128 | | | 933,585 | | | 492,510 | | | Sales and marketing | | | 129,614 | | | 169,768 | | | 330,870 | | | 180,742 | | | Total | | $ | 1,119,545 | | $ | 420,381 | | $ | 2,798,766 | | $ | 912,504 | |
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