XML 18 R25.htm IDEA: XBRL DOCUMENT

Equity Instruments (Tables)

3 Months Ended

Sep. 30, 2015

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

time of the grant for treasury securities of similar maturity. Aytu has computed the fair value of all options granted during the three months ended September 30, 2015 using the following assumptions:


Expected volatility		75.00%
Risk free interest rate		1.08% – 1.59%
Expected term (years)		3.0 – 4.5
Dividend yield		0%

Stock Option Activity

Stock option activity is as follows:


	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Expected Life in Years
Outstanding June 30, 2015		—	$	—
Granted		50,000	$	4.63
Exercised		—	$	—
Forfeited/Cancelled		—	$	—

Outstanding September 30, 2015		50,000	$	4.63		4.86

Exercisable at September 30, 2015		—	$	—

Available for grant at September 30, 2015		9,950,000

Summary of Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense for the three months ended September 30, 2015 and for the stock-based compensation expense related to the Luoxis and Vyrix options for the three months ended September 30, 2014:


	Three Months Ended September 30,
	2015		2014
Research and development expenses
Stock options	$	5,000	$	90,000
Selling, general and administrative expenses
Stock options		63,000		112,000

	$	68,000	$	202,000

Unrecognized expense at September 30, 2015	$	10,000

Weighted average remaining years to vest		3.55

Warrants Issued in Conjunction with its Senior Convertible Debentures

A summary of these warrants is as follows:


	Number of Warrants		Weighted Average Exercise Price		Weighted Average Remaining Expected Life in Years
Outstanding June 30, 2015		102,613	$	4.53		2.92
Outstanding September 30, 2015 (unaudited)		102,613	$	4.53		2.92

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details