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Stockholders' Equity/(Deficit) (Tables)
12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Stock Options Valuation Assumptions

The assumptions used in the Black-Scholes model were as follows for stock options granted in the years ended December 31, 2014, 2013 and 2012:

 

     2014   2013   2012

Risk-free interest rate

   2.1-2.7%   .41-1.28%   .39-.67%

Expected volatility of common stock

   63.5-65.0%   59.2-68.2%   65.3-71.6%

Dividend yield

   0%   0%   0%

Expected life of options

   6.1-8.2 years   3.0-4.1 years   3.0-4.1 years
Summary of Stock Option Activity

Additional information with respect to both plans stock option activity is as follows:

 

     Number of
Shares
     Weighted Average
Exercise Price
 

Outstanding at December 31, 2011

     3,399,405       $ 3.78   

Granted

     771,969       $ 2.85   

Exercised

     (15,150    $ 2.61   

Cancelled

     (736,070    $ 4.42   
  

 

 

    

Outstanding at December 31, 2012

  3,420,154    $ 3.31   

Granted

  1,233,822    $ 2.99   

Exercised

  (204,500 $ 2.24   

Cancelled

  (1,453,600 $ 3.61   
  

 

 

    

Outstanding at December 31, 2013

  2,995,876    $ 3.31   

Granted

  1,026,286    $ 2.14   

Exercised

  —      $ —     

Cancelled

  (328,676 $ 3.48   
  

 

 

    

Outstanding at December 31, 2014

  3,693,486    $ 2.67   
  

 

 

    

Options exercisable at December 31, 2012

  2,754,227    $ 3.44   
  

 

 

    

Options exercisable at December 31, 2013

  2,118,903    $ 2.94   
  

 

 

    

Options exercisable at December 31, 2014

  2,653,302    $ 2.77   
  

 

 

    
Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2014:

Stock Options Outstanding

 

Range of Exercise
Prices
    Number of Shares
Outstanding
    Weighted Average
Remaining Contractual
Life in Years
    Weighted Average Exercise
Price
 
$ 1.07 - $2.20        1,071,360        8.64      $ 2.13   
$ 2.73 - $2.89        2,262,126        2.15      $ 2.80   
$ 3.25 - $3.90        360,000        3.02      $ 3.42   

 

 

   

 

 

   

 

 

   

 

 

 
  3,693,486      4.12    $ 2.67   
 

 

 

   

 

 

   

 

 

 
Estimated Fair Value of Restricted Stock Award

A summary of the status of the restricted stock awards as of December 31, 2014 and changes during the year ended December 31, 2014 is presented as follows:

 

     Number of
Shares
     Weighted Average
Grant Date Fair
Value
 

Unvested at December 31, 2013

     188,125       $ 2.89   

Granted

     1,076,813       $ 1.43   

Vested

     (419,722    $ 2.17   

Cancelled

     (7,000    $ 2.00   
  

 

 

    

 

 

 

Unvested at December 31, 2014

  838,216    $ 1.38   
  

 

 

    

 

 

 

Summary of Common Stock Warrants Outstanding

The following table summarizes our common stock warrants outstanding at December 31, 2014:

 

Common Stock
Warrants
    Exercise Price     Termination Date  
  1,562,500      $ 3.60        11/9/2016