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STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 31, 2012
Stockholders Equity Tables |
Company Warrants Outstanding and Issued | During the year ended December 31, 2012, we issued the following:
|  | Number of Shares Under Company Warrants |  |  | Exercise Price |  |  | Exercise Term in Years |  |  | Fair Value |
Debt modification |  |  | 5,685,300 |  |  |  | $0.38 |  |  |  | 5 |  |  | $ | 10,505,247 |
Issued with debt |  |  | 10,314,700 |  |  |  | $0.38-$3.00 |  |  |  | 5 |  |  |  | 15,549,855 |
Services |  |  | 1,332,500 |  |  |  | $2.40-$2.80 |  |  |  | 5 |  |  |  | 1,563,620 |
|  |  | 17,332,500 |  |  |  |  |  |  |  |  |  |  | $ | 27,618,722 |
During the year ended December 31, 2011, we issued the following:
|  | Number of Shares Under Company Warrants |  |  | Exercise Price |  |  | Exercise Term in Years |  |  | Fair Value |
Loan guarantee |  |  | 613,713 |  |  | $ | 0.24 |  |  |  | 10 |  |  | $ | 93,969 |
Loan consideration |  |  | 613,718 |  |  | $ | 0.41 |  |  |  | 5 |  |  |  | 30,993 |
Product consulting |  |  | 1,045,485 |  |  |  | $0.38-$0.41 |  |  |  | 5-10 |  |  |  | 189,942 |
Services |  |  | 784,711 |  |  |  | $0.38-$1.50 |  |  |  | 5-10 |  |  |  | 159,363 |
|  |  | 3,057,627 |  |  |  |  |  |  |  |  |  |  | $ | 474,267 |
Schedule of Assumptions FV Warrants | The weighted average fair value per share of Company Warrants granted and the assumptions used in the Black-Scholes Model during the years ended December 31, 2012 and 2011 are set forth in the table below.
|  | 2012 |  |  | 2011 |
Weighted average fair value |  | $ | 2.05 |  |  | $ | 0.16 |
Risk-free interest rate |  |  | 0.72-1.04% |  |  |  | 0.91-3.48% |
Volatility |  |  | 44.64-44.81% |  |  |  | 39.13-51.83% |
Term (in years) |  |  | 5 |  |  |  | 5-10 |
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Schedule of Stock Warrant Activity | A summary of our Common Stock purchase warrant activity and related information for the years ended December 31, 2012 and 2011 follows:
|  | Number of Shares Under Company Warrants |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value |
Balance at December 31, 2010 |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Granted |  |  | 3,057,627 |  |  | $ | 0.36 |  |  |  | 7.9 |  |  | $ | 3,483,691 |
Exercised |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Expired |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Cancelled |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2011 |  |  | 3,057,627 |  |  | $ | 0.36 |  |  |  | 7.9 |  |  | $ | 3,483,691 |
Granted |  |  | 17,332,500 |  |  | $ | 1.26 |  |  |  | 4.3 |  |  | $ | 31,891,150 |
Exercised |  |  | (8,145,486 | ) |  | $ | 0.38 |  |  |  |  |  |  |  |  |
Expired |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Cancelled |  |  | (51,142 | ) |  | $ | 0.24 |  |  |  |  |  |  |  |  |
Balance at December 31, 2012 |  |  | 12,193,499 |  |  | $ | 1.63 |  |  |  | 4.8 |  |  | $ | 17,971,994 |
Vested and Exercisable at |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2012 |  |  | 11,784,408 |  |  | $ | 1.69 |  |  |  | 4.7 |  |  | $ | 16,859,266 |
Stock Options | A summary of activity under the 2009 and 2012 Plans and related information follows:
|  | Number of Shares Under Company Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value |
Balance at December 31, 2010 |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Granted(1) |  |  | 10,682,218 |  |  | $ | 0.16 |  |  |  | 7.6 |  |  | $ | 14,188,484 |
Exercised |  |  | (92,057 | ) |  | $ | 0.19 |  |  |  |  |  |  |  |  |
Expired |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Cancelled |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2011 |  |  | 10,590,161 |  |  | $ | 0.16 |  |  |  | 7.6 |  |  | $ | 14,067,649 |
Granted |  |  | 5,121,250 |  |  | $ | 2.80 |  |  |  | 9.7 |  |  | $ | 1,737,530 |
Exercised |  |  | (1,931,788 | ) |  | $ | 0.13 |  |  |  |  |  |  |  |  |
Expired |  |  | -0- |  |  |  |  |  |  |  |  |  |  |  |  |
Cancelled |  |  | (46,135 | ) |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 31, 2012 |  |  | 13,733,488 |  |  | $ | 1.16 |  |  |  | 7.7 |  |  | $ | 26,804,117 |
Vested and Exercisable at December 31, 2012 |  |  | 8,370,408 |  |  | $ | 0.38 |  |  |  | 6.7 |  |  | $ | 22,811,422 |
Schedule of Assumptions FV Options | The assumptions used in the Black-Scholes Model during the years ended December 31, 2012 and 2011 and are set forth in the table below.
|  | 2012 |  |  | 2011 |
Risk-free interest rate |  |  | 0.61-2.23% |  |  |  | 0.91-2.54% |
Volatility |  |  | 40.77-46.01% |  |  |  | 37.92-40.48% |
Expected life (in years) |  |  | 5-6.25 |  |  |  | 5.5-6.25 |
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %

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