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Equity (Tables) | 9 Months Ended
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Sep. 30, 2013
Equity [Abstract] |
Stock Options Activity | Activity with respect to the stock options is summarized as follows:
| Number of Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Outstanding at January 1, 2013 | 13,614,135 |  |  | $ | 1.42 |  |  |  |  |
Granted | 3,368,000 |  |  | 5.19 |  |  |  |  |
Exercised | (1,610,426 | ) |  | 0.94 |  |  |  |  |
Unvested options forfeited | (179,167 | ) |  | 3.82 |  |  |  |  |
Vested options expired | (52,999 | ) |  | 1.11 |  |  |  |  |
Outstanding at September 30, 2013 | 15,139,543 |  |  | 2.28 |  |  | 7.9 |  | $ | 31,918,608 |
Vested at September 30, 2013 | 6,482,824 |  |  | 1.25 |  |  | 6.6 |  | $ | 18,911,451 |
Vested or expected to vest at September 30, 2013 (a) | 14,824,937 |  |  | $ | 2.25 |  |  | 7.9 |  | $ | 31,649,823 |
(a) | Includes forfeiture adjusted unvested shares.
Stock Options Outstanding and Exercisable | Following is a summary of stock options outstanding and exercisable at September 30, 2013:
| Options Outstanding |  | Options Exercisable
Range of Exercise Prices | Number outstanding |  | Weighted- Average Remaining Contractual Term (in years) |  | Weighted- Average Exercise Price |  | Number Exercisable |  | Weighted- Average Exercise Price
$0.50 - $0.76 | 1,340,935 |  |  | 3.9 |  | $ | 0.65 |  |  | 1,340,935 |  |  | $ | 0.65 |
$0.87 - $1.35 | 6,656,908 |  |  | 7.9 |  | 1.20 |  |  | 3,336,870 |  |  | 1.19 |
$1.40 - $2.29 | 1,686,700 |  |  | 6.4 |  | 1.62 |  |  | 1,436,698 |  |  | 1.65 |
$2.33 - $3.75 | 2,159,500 |  |  | 9.0 |  | 2.75 |  |  | 368,321 |  |  | 2.52 |
$3.95 - $6.02 | 3,035,000 |  |  | 9.5 |  | 5.07 |  |  | — |  |  | — |
$6.11 - $6.75 | 260,500 |  |  | 9.7 |  | 6.49 |  |  | — |  |  | — |
| 15,139,543 |  |  | 7.9 |  | $ | 2.28 |  |  | 6,482,824 |  |  | $ | 1.25 |
Fair Value of Options, Valuation Assumptions | The assumptions used in calculating the fair value of options using the Black-Scholes-Merton option-pricing model are set forth in the following table:
| Nine months ended September 30,
| 2013 |  | 2012
Expected volatility | 61.41 - 64.56% |  |  | 45.75 - 64.3% |
Expected life (in years) | 6 |  |  | 6 |
Expected dividend yield | — |  |  | — |
Risk-free interest rate | 0.85 -1.88% |  |  | 0.62 - 1.62% |
Allocation of Share-based Compensation | For the three and nine months ended September 30, 2013 and 2012, the Company recognized stock-based compensation as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Cost of sales | $ | 75,287 |  |  | $ | 11,643 |  |  | $ | 198,119 |  |  | $ | 65,132 |
Research and development | 110,694 |  |  | 70,754 |  |  | 309,461 |  |  | 217,885 |
Selling, general and administrative | 1,481,785 |  |  | 587,072 |  |  | 3,647,425 |  |  | 1,472,652 |
| $ | 1,667,766 |  |  | $ | 669,469 |  |  | $ | 4,155,005 |  |  | $ | 1,755,669 |
Summary of Warrants Outstanding | Following is a summary of the warrant activity for the nine months ended September 30, 2013:
| Number of Warrants |  | Weighted- Average Exercise Price per Warrant
Warrants outstanding at January 1, 2013 | 3,129,168 |  |  | $ | 1.04 |
Warrants exercised: |  |  |
Contingent warrants related to private placement of common stock | (62,500 | ) |  | 0.01 |
Callable warrants | (266,666 | ) |  | 1.50 |
Other | (876,333 | ) |  | 1.23 |
Warrants outstanding at September 30, 2013 | 1,923,669 |  |  | $ | 0.93 |

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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64 -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=6793087&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph A240 -Subparagraph g(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph A240 -Subparagraph f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(i)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph i -Article 4 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 28 -Article 5 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Emerging Issues Task Force (EITF) -Number D-98 -Paragraph 2 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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