Share-based payments (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Details of share options activity during the years ended December 31, 2014 and 2013 were as follows:


	Number of options			Weighted average exercise price per share		Weighted average remaining contractual term		Aggregate fair value			Aggregate intrinsic value
Balance as of December 31, 2012		327,105		$	11.80		8.6 years	$	1,735		$	—
Granted		67,000			7.45				308
Forfeited		(85,000	)		9.40				(347	)


Balance as of December 31, 2013		309,105			11.50		8.1 years		1,696			—
Forfeited		(32,105	)		19.55				(218	)

Balance as of December 31, 2014		277,000			10.60		7.2 years		1,478			—

Options exercisable at December 31, 2014		213,667		$	11.71		7.0 years	$	1,200

Schedule of Estimated Grant Date Fair Value of Share Options, Using Binomial Tree Option Pricing Model

The Company determined the estimated grant-date fair value of share options based on the Binomial Tree option-pricing model using the following assumptions:


	2013*
Risk-free rate of return		2.63	%
Weighted average expected option life		10 years
Expected volatility rate		95.26	%
Dividend yield		0	%

*	No options were granted for the year ended December 31, 2014.

Schedule of Restricted Share Units Activity

Details of restricted share unit activity during the years ended December 31, 2014 and 2013 were as follows:


	Number of restricted share unit Granted			Grant-date fair value		Weighted average remaining contractual term
Balance as of December 31, 2012		29,053		$	200		9.45 years
Granted		195,656			1,502
Exercised		(23,656	)
Forfeited		(40,000	)


Balance as of December 31, 2013		161,053			1,340		9.76 years
Granted		73,000			239
Exercised		(171,053	)
Forfeited		(2,000	)


Balance as of December 31, 2014		61,000			190		9.58 years


Units vested as of December 31, 2014		—