Stock-Based Awards

6 Months Ended

Jun. 30, 2013

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

6. Stock-Based Awards

The Company grants equity awards to employees and directors and has in the past granted such awards to special advisors for services:

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Options are issued generally for terms of ten years and vest between two to four years. Options are issued with an exercise price equal to the fair value of the Company on the date of grant. The Company estimated the fair value for options using the Black-Scholes Option Pricing Model.

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All restricted stock and option awards require future service as a condition of vesting with certain awards subject to acceleration under certain conditions. Awards generally vest over one to four years.

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Stock awards granted to advisors vested over the contractual period of the consulting arrangement. The fair value of these awards was measured at the grant dated fair value and re-measured at each reporting period. Fair value was initially determined as the closing price of the Company’s common stock on the date of grant.

A summary of options and restricted stock activity is as follows:


	Options			Weighted Average Exercise Price of Options		Restricted Stock Awards
Balance at January 1, 2013		12,760,191		$	0.95		1,281,144
Granted		—		$	—		826,849
Exercised/vested		(665,500	)	$	1.61		(69,080	)
Forfeitures		(37,500	)	$	4.23		—

Balance at June 30, 2013		12,057,191		$	0.90		2,038,913

A summary of stock-based compensation expense is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Employees and directors	$	1,691	$	1,237	$	3,405	$	2,661
Non-employees		—		681		—		1,372

Total	$	1,691	$	1,918	$	3,405	$	4,033

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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