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Compensatory Equity Incentive Plan and Other Equity Incentives (Tables) | 6 Months Ended
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Dec. 31, 2013
Compensatory Equity Incentive Plan And Other Equity Incentives Tables |
Schedule of Share Based Compensation Award Plans | These two plans are summarized below:
|  |  |  |  | Award Shares |  |  | Available for |
|  | Award |  |  | Outstanding at |  |  | Issuance at |
|  | Shares Authorized |  |  | December 31, 2013 |  |  | December 31, 2013 |
Equity Compensation Arrangement |  |  |  |  |  |  |  |  |
Amended and Restated Omnibus Incentive Plan |  |  | 2,715,625 |  |  |  | 1,507,458 |  |  |  | 569,103 |
Employee Stock Purchase Plan |  |  | 200,000 |  |  |  | — |  |  |  | 105,918 |
|  |  | 2,915,625 |  |  |  | 1,507,458 |  |  |  | 675,021 |
Schedule of Fair Value Assumptions for Grant Date Value | For stock options granted in the six month periods ended December 31, 2013 and 2012, the Company estimated the fair value of each stock option as of the date of grant using the following assumptions:
|  | Six Months Ended |  |  | Six Months Ended |
|  | December 31, 2013 |  |  | December 31, 2012 |
Expected volatility |  |  | 118 | % |  |  | 110 | %
Weighted average expected volatility |  |  | 118 | % |  |  | 110 | %
Dividend yields |  |  | 0 | % |  |  | 0 | %
Risk-free interest rate |  |  | 2.48 | % |  |  | 0.67 | %
Expected term, in years |  |  | 11.85 |  |  |  | 6.25 |
Schedule of Share Based Compensation Awards Activity | A summary of the activity for share-based compensation awards in the six months ended December 31, 2013 is presented below:
|  |  |  |  |  |  |  |  |  |  | Restricted |
|  | Stock Options |  |  | Stock Units (RSUs) |
|  |  |  |  | Weighted |  |  | Weighted |  |  |  |  |  | Weighted |
|  |  |  |  | Average |  |  | Average |  |  |  |  |  | Average |
|  |  |  |  | Exercise |  |  | Remaining |  |  |  |  |  | Remaining |
|  |  |  |  | Price |  |  | Contract |  |  |  |  |  | Contract |
|  | Shares |  |  | (per share) |  |  | Life (YRS) |  |  | Shares |  |  | Life (YRS) |
June 30, 2013 |  |  | 585,009 |  |  | $ | 2.38 |  |  |  | 5.9 |  |  |  | 834,700 |  |  |  | 1.1 |
Granted |  |  | 80,000 |  |  |  | 1.41 |  |  |  | 9.8 |  |  |  | 212,760 |  |  |  | 2.8 |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (191,160 | ) |  |  | — |
Cancelled |  |  | (13,851 | ) |  |  | 2.40 |  |  |  | — |  |  |  | — |  |  |  | — |
December 31, 2013 |  |  | 651,158 |  |  | $ | 2.26 |  |  |  | 6.0 |  |  |  | 856,300 |  |  |  | 1.1 |
Awards exercisable/vested as of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2013 |  |  | 433,408 |  |  | $ | 2.65 |  |  |  | 4.7 |  |  |  | 435,332 |  |  |  | — |
Awards unexercisable/unvested as of |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2013 |  |  | 217,750 |  |  | $ | 1.46 |  |  |  | 8.7 |  |  |  | 420,968 |  |  |  | 1.1 |
|  |  | 651,158 |  |  |  |  |  |  |  |  |  |  |  | 856,300 |  |  |  |  |
Schedule of Share Based Compensation Future Cost to be Recognized | We expect to recognize the compensation cost as follows:
|  |  |  |  | Restricted |  |  |  |
|  | Stock |  |  | Stock |  |  |  |
|  | Options |  |  | Units |  |  | Total |
Six months ended June 30, 2014 |  | $ | 29,042 |  |  | $ | 99,913 |  |  | $ | 128,955 |
Year ended June 30, 2015 |  |  | 41,127 |  |  |  | 156,625 |  |  |  | 197,752 |
Year ended June 30, 2016 |  |  | 26,784 |  |  |  | 112,291 |  |  |  | 139,075 |
Year ended June 30, 2017 |  |  | 17,057 |  |  |  | 20,865 |  |  |  | 37,922 |
Year ended June 30, 2018 |  |  | 3,508 |  |  |  | — |  |  |  | 3,508 |
|  | $ | 117,518 |  |  | $ | 389,694 |  |  | $ | 507,212 |
Schedule of Activity of Unexerciseable and Unvested Awards | The following table is a summary of the number and weighted average grant date fair values regarding the Company’s unexercisable/unvested awards as of December31, 2013 and changes during the six months then ended:
Unexercisable/unvested awards |  | Stock Options |  |  | RSU Shares |  |  | Total Shares |  |  | Weighted-Average Grant Date Fair Values |
June 30, 2013 |  |  | 183,250 |  |  |  | 371,670 |  |  |  | 554,920 |  |  | $ | 1.57 |
Granted |  |  | 80,000 |  |  |  | 212,760 |  |  |  | 292,760 |  |  |  | 1.41 |
Vested |  |  | (45,500 | ) |  |  | (163,462 | ) |  |  | (208,962 | ) |  |  | 1.43 |
Cancelled/Forfeited |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
December 31, 2013 |  |  | 217,750 |  |  |  | 420,968 |  |  |  | 638,718 |  |  | $ | 1.19 |
Schedule of Financial Statement Effect Related to Share Based Compensation | The following table shows total stock-based compensation expense for the six months ended December 31, 2013 and 2012 included in the consolidated statements of operations and comprehensive income:
|  | (Unaudited) |  |  | (Unaudited) |
|  | Six Months Ended |  |  | Six Months Ended |
|  | December 31, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
Stock options |  |  | 38,857 |  |  |  | 33,692 |
RSU |  |  | 188,789 |  |  |  | 94,594 |
Total |  |  | 227,646 |  |  |  | 128,286 |
The amounts above were included in: |  |  |  |  |  |  |  |
General & administrative |  |  | 221,994 |  |  |  | 122,292 |
Cost of sales |  |  | — |  |  |  | 1,580 |
New product development |  |  | 5,651 |  |  |  | 4,414 |
|  |  | 227,645 |  |  |  | 128,286 |

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: 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 + Details
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