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Stockholders' Equity (Tables)
9 Months Ended
Jun. 30, 2015
Equity [Abstract]  
Stock-Based Compensation Expense Related to Stock Options and RSUs

The following table summarizes stock-based compensation expense related to stock options and RSUs, which was allocated as follows:

 

 

 

Three Months Ended

June 30,

 

 

Nine Months Ended

June 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

Cost of goods sold

 

$

613

 

 

$

-

 

 

$

613

 

 

$

-

 

Sales and marketing

 

 

176,148

 

 

 

221,323

 

 

 

543,228

 

 

 

657,014

 

Research and development

 

 

130,098

 

 

 

201,690

 

 

 

427,068

 

 

 

579,517

 

General and administrative

 

 

502,493

 

 

 

499,835

 

 

 

1,523,624

 

 

 

1,431,438

 

Stock-based compensation expense included in operating

   expenses

 

$

809,352

 

 

$

922,848

 

 

$

2,494,533

 

 

$

2,667,969

 

 

Fair Value Calculations for Stock-Based Compensation Awards

The fair value calculations for stock-based compensation awards to employees for the nine months ended June 30, 2015 were based on the following assumptions:

 

 

 

Nine Months Ended

June 30, 2015

 

Risk-free interest rate

 

1.29 – 1.66%

 

Expected life (years)

 

 

5.25

 

Expected volatility

 

 

98%

 

Expected dividends

 

None

 

 

Stock Option Activity

The following table summarizes stock option activity under the Company’s equity plans during the nine months ended June 30, 2015:

 

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise Price

 

 

Weighted-Average

Remaining

Contractual Term

(in Years)

 

Outstanding, September 30, 2014

 

 

2,334,326

 

 

$

4.11

 

 

 

5.46

 

Granted

 

 

1,917,500

 

 

$

2.91

 

 

 

 

 

Exercised

 

 

(110,769

)

 

$

3.78

 

 

 

 

 

Cancelled

 

 

(363,064

)

 

$

3.88

 

 

 

 

 

Outstanding, June 30, 2015

 

 

3,777,993

 

 

$

3.61

 

 

 

7.16

 

 

RSU Activity

The following table summarizes RSU activity under the Company’s equity plans during the nine months ended June 30, 2015:

 

 

 

Number of

Shares

 

 

Weighted-Average

Fair Market Value

Per Share

 

Outstanding, September 30, 2014

 

 

1,101,303

 

 

$

4.71

 

Granted

 

 

104,000

 

 

$

2.29

 

Settled

 

 

(233,166

)

 

$

2.94

 

Cancelled

 

 

(124,796

)

 

$

3.87

 

Outstanding, June 30, 2015

 

 

847,341

 

 

$

4.42