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14. Shareholders' Equity (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2014 | Dec. 31, 2013
Shareholders' equity |  |
Common stock outstanding |
|  | Number of |
|  | Common Shares |
Balance at December 31, 2012 |  |  | 890,837 |
Conversion of Series E Preferred to common stock |  |  | 1,575,000 |
Shares issued for acquisition of Canterbury and Hygeia |  |  | 1,150,116 |
Conversion of warrants to common stock |  |  | 1,023,264 |
Conversion of debt to common stock |  |  | 576,331 |
Issuance of shares for advisory agreements |  |  | 243,250 |
Issuance of shares to third party for assumption of liabilities |  |  | 200,000 |
Issuance of common stock for cash |  |  | 142,501 |
Other |  |  | 12,486 |
Balance at December 31, 2013 |  |  | 5,813,785 |
Issuance of shares to third party for assumption of liabilities |  |  | 150,000 |
Shares issued for acquisition of Paloma |  |  | 2,500,000 |
Shares issued for acquisition of VasculoMedics |  |  | 220,000 |
Balance at March 31, 2014 (unaudited) |  |  | 8,683,785 |
|  | Number of Common Shares |
Balance at December 31, 2012 |  |  | 890,837 |
Conversion of Series E Preferred to common stock |  |  | 1,575,000 |
Shares issued for acquisition |  |  | 1,150,116 |
Conversion of warrants to common stock |  |  | 1,023,264 |
Conversion of debt to common stock |  |  | 576,331 |
Issuance of shares for advisory agreements |  |  | 243,250 |
Issuance of shares to third party for assumption of liabilities |  |  | 200,000 |
Issuance of common stock for cash |  |  | 142,501 |
Other |  |  | 12,486 |
Balance at December 31, 2013 |  |  | 5,813,785 |
Stock Options- Assumptions | The assumptions used to value the options granted during the first three months of 2014 was:
Estimated fair value of underlying common stock |  |  | $2.50 - $3.00 |
Remaining life |  |  | 5.0 |
Risk-free interest rate |  |  | 1.50% - 1.72% |
Expected volatility |  |  | 153% - 155% |
Dividend yield |  |  | – |
| The Black Scholes expense for these March 27, 2013 options was calculated using the following assumptions. The fair value of the underlying common stock was based on the sale of 139,167 shares of common stock at $3.00 by the Company during the three months ended June 30, 2013.
Estimated fair value of underlying common stock |  |  | $3.00 |
Remaining life |  |  | 5.0 |
Risk-free interest rate |  |  | 0.35% |
Expected volatility |  |  | 141% |
Dividend yield |  |  | – |
The Black Scholes expense for these 2012 options was calculated using the following assumptions. The fair value of the underlying common stock was determined by closing price on the Bulletin Board stock exchange.
Estimated fair value of underlying common stock |  |  | $35.00 - $38.00 |
Remaining life |  |  | 5.0 |
Risk-free interest rate |  |  | 0.69% - 0.80% |
Expected volatility |  |  | 80% - 89% |
Dividend yield |  |  | – |
Stock Options - Activity | The following table sets forth the activity of our stock options to purchase common stock:
|  | Options Outstanding |  |  | Options Exercisable |
|  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  |  | Average |  |  | Weighted |  |  |  |  |  | Average |  |  | Weighted |
|  |  |  |  | Range of |  |  | Remaining |  |  | Average |  |  |  |  |  | Remaining |  |  | Average |
|  | Options |  |  | Exercise |  |  | Life in |  |  | Exercise |  |  | Options |  |  | Life in |  |  | Exercise |
|  | Outstanding |  |  | Prices |  |  | Years |  |  | Price |  |  | Exercisable |  |  | Years |  |  | Price |
As of December 31, 2012 |  |  | 79,436 |  |  |  | $35.00 -$54.00 |  |  |  | 3.0 |  |  | $ | 46.00 |  |  |  | 57,310 |  |  |  | 2.6 |  |  | $ | 48.00 |
Canceled |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Exercised |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Granted |  |  | 310,000 |  |  |  | $3.00 |  |  |  | 4.2 |  |  | $ | 3.00 |  |  |  | 310,000 |  |  |  | 4.2 |  |  | $ | 3.00 |
As of December 31, 2013 |  |  | 389,436 |  |  |  | $3.00 -$54.00 |  |  |  | 3.9 |  |  | $ | 11.77 |  |  |  | 367,310 |  |  |  | 3.9 |  |  | $ | 11.10 |
Canceled |  |  | 3,585 |  |  |  | – |  |  |  | – |  |  |  | 43.27 |  |  |  | 3,585 |  |  |  | – |  |  |  | 43.27 |
Exercised |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Granted |  |  | 600,586 |  |  |  | $2.50 - $3.00 |  |  |  | 4.9 |  |  | $ | 3.00 |  |  |  | 91,128 |  |  |  | 4.9 |  |  | $ | 3.00 |
As of March 31, 2014 |  |  | 986,437 |  |  |  | $3.00 -$54.00 |  |  |  | 4.4 |  |  | $ | 6.74 |  |  |  | 454,853 |  |  |  | 3.8 |  |  | $ | 11.11 |
|  |  | Options Outstanding |  |  | Options Exercisable |
|  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Average |  |  | Weighted |  |  |  |  |  |  | Average |  |  | Weighted |
|  |  |  |  |  |  | Range of |  |  | Remaining |  |  | Average |  |  |  |  |  |  | Remaining |  |  | Average |
|  |  | Options |  |  | Exercise |  |  | Life in |  |  | Exercise |  |  | Options |  |  | Life in |  |  | Exercise |
|  |  | Outstanding |  |  | Prices |  |  | Years |  |  | Price |  |  | Exercisable |  |  | Years |  |  | Price |
As of December 31, 2011 |  |  |  | 121,699 |  |  | $14.00 - $150.00 |  |  |  | 2.9 |  |  |  | $49.00 |  |  |  | 87,577 |  |  |  | 2.9 |  |  | $ | 40.00 |
Cancelled |  |  |  | (72,763 | ) |  |  | – |  |  |  | – |  |  |  | – |  |  |  | (46,610 | ) |  |  | – |  |  |  | – |
Exercised |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Granted |  |  |  | 30,500 |  |  | $35.00 - $38.00 |  |  |  | 4.2 |  |  |  | $36.00 |  |  |  | 16,343 |  |  |  | 4.2 |  |  | $ | 36.00 |
As of December 31, 2012 |  |  |  | 79,436 |  |  | $35.00 - $54.00 |  |  |  | 3.0 |  |  |  | $46.00 |  |  |  | 57,310 |  |  |  | 2.6 |  |  | $ | 48.00 |
Cancelled |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Exercised |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Granted |  |  |  | 310,000 |  |  |  | $3.00 |  |  |  | 4.2 |  |  |  | $3.00 |  |  |  | 310,000 |  |  |  | 4.2 |  |  |  | $3.00 |
As of December 31, 2013 |  |  |  | 389,436 |  |  |  | $0.03 - $0.54 |  |  |  | 3.9 |  |  |  | $11.77 |  |  |  | 367,310 |  |  |  | 3.9 |  |  |  | $11.10 |
Warrants -Assumptions |
Estimated fair value of underlying common stock |  |  | $3.00 |
Remaining life |  |  | 5.0 |
Risk-free interest rate |  |  | 0.35% |
Expected volatility |  |  | 141% |
Dividend yield |  |  | – |
| The Black Scholes expense for these March 27, 2013 warrants was calculated using the following assumptions. The fair value of the underlying common stock was based on the sale of 139,167 shares of common stock at $3.00 by the Company during the three months ended June 30, 2013.
Estimated fair value of underlying common stock |  |  | $3.00 |
Remaining life |  |  | 5.0 |
Risk-free interest rate |  |  | 0.35% |
Expected volatility |  |  | 141% |
Dividend yield |  |  | – |
The Black Scholes expense for these 2012 warrants was calculated using the following assumptions. The fair value of the underlying common stock was determined by closing price on the Bulletin Board stock exchange.
Estimated fair value of underlying common stock |  |  | $38.00 - $75.00 |
Remaining life |  |  | 5.0 |
Risk-free interest rate |  |  | 0.74% - 1.80% |
Expected volatility |  |  | 84% - 132% |
Dividend yield |  |  | – |
Warrants - Summary | A summary of the warrants:
|  | Warrants Outstanding |  |  | Warrants Exercisable |
|  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  |  | Average |  |  | Weighted |  |  |  |  |  | Average |  |  | Weighted |
|  |  |  |  | Range of |  |  | Remaining |  |  | Average |  |  |  |  |  | Remaining |  |  | Average |
|  | Warrants |  |  | Exercise |  |  | Life in |  |  | Exercise |  |  | Warrants |  |  | Life in |  |  | Exercise |
|  | Outstanding |  |  | Prices |  |  | Years |  |  | Price |  |  | Exercisable |  |  | Years |  |  | Price |
As of December 31, 2012 |  |  | 1,322,852 |  |  |  | $30.00 - $200.00 |  |  |  | 3.2 |  |  | $ | 40.00 |  |  |  | 1,269,102 |  |  |  | 3.2 |  |  | $ | 38.00 |
Canceled |  |  | (978,700 | ) |  |  | $30.00 |  |  |  | – |  |  | $ | 30.00 |  |  |  | (939,950 | ) |  |  | – |  |  | $ | 30.00 |
Exercised |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Granted |  |  | 173,917 |  |  |  | $3.00 |  |  |  | 4.2 |  |  | $ | 3.00 |  |  |  | 173,917 |  |  |  | 4.2 |  |  | $ | 3.00 |
As of December 31, 2013 |  |  | 518,069 |  |  |  | $3.00 - $200.00 |  |  |  | 3.3 |  |  | $ | 44.07 |  |  |  | 503,069 |  |  |  | 3.3 |  |  | $ | 44.07 |
Canceled |  |  | 198 |  |  |  | – |  |  |  | – |  |  | $ | 200.00 |  |  |  | 198 |  |  |  | – |  |  | $ | 200.00 |
Exercised |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Granted |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
As of March 31, 2014 |  |  | 517,871 |  |  |  | $3.00 - $200.00 |  |  |  | 3.0 |  |  | $ | 44.01 |  |  |  | 502,871 |  |  |  | 3.0 |  |  | $ | 44.01 |
|  |  | Warrants Outstanding |  |  | Warrants Exercisable |
|  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | Average |  |  | Weighted |  |  |  |  |  |  | Average |  |  | Weighted |
|  |  |  |  |  |  | Range of |  |  | Remaining |  |  | Average |  |  |  |  |  |  | Remaining |  |  | Average |
|  |  | Warrants |  |  | Exercise |  |  | Life in |  |  | Exercise |  |  | Warrants |  |  | Life in |  |  | Exercise |
|  |  | Outstanding |  |  | Prices |  |  | Years |  |  | Price |  |  | Exercisable |  |  | Years |  |  | Price |
As of December 31, 2011 |  |  |  | 595,302 |  |  | $65.00 - $200.00 |  |  |  | 3.2 |  |  |  | $200.00 |  |  |  | 595,302 |  |  |  | 3.2 |  |  |  | $200.00 |
Exercised |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Ratchet-down impact |  |  |  | 569,917 |  |  |  | $30.00 |  |  |  | – |  |  |  | $30.00 |  |  |  | 569,917 |  |  |  | – |  |  |  | $30.00 |
Granted |  |  |  | 157,633 |  |  | $30.00 - $75.00 |  |  |  | 4.3 |  |  |  | $38.00 |  |  |  | 103,883 |  |  |  | 4.3 |  |  |  | – |
As of December 31, 2012 |  |  |  | 1,322,852 |  |  | $30.00 - $200.00 |  |  |  | 3.2 |  |  |  | $40.00 |  |  |  | 1,269,102 |  |  |  | 3.2 |  |  |  | $38.00 |
Exercised |  |  |  | (978,700 | ) |  |  | $30.00 |  |  |  | – |  |  |  | $30.00 |  |  |  | (939,950 | ) |  |  | – |  |  |  | $30.00 |
Ratchet-down impact |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Granted |  |  |  | 173,917 |  |  |  | $3.00 |  |  |  | 4.2 |  |  |  | $3.00 |  |  |  | 173,917 |  |  |  | 4.2 |  |  |  | $3.00 |
As of December 31, 2013 |  |  |  | 518,069 |  |  | $3.00 - $200.00 |  |  |  | 3.3 |  |  |  | $44.07 |  |  |  | 503,069 |  |  |  | 3.3 |  |  |  | $44.07 |

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