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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2013
Stockholders Equity Tables |
Schedule of warrant activity | A summary of our warrant activity and related information for 2013 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, 2012 |  |  | 12,193,499 |  |  | $ | 1.63 |  |  |  | 4.8 |  |  | $ | 17,971,994 |
Granted |  |  | 2,100,000 |  |  | $ | 2.72 |  |  |  | 7.1 |  |  | $ | 782,000 |
Exercised |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Expired |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Cancelled |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at September 30, 2013 |  |  | 14,293,499 |  |  | $ | 1.79 |  |  |  | 4.5 |  |  | $ | 16,751,100 |
Vested and Exercisable at September 30, 2013 |  |  | 12,190,468 |  |  | $ | 1.67 |  |  |  | 4.1 |  |  | $ | 15,499,537 |
Schedule of assumptions used in the Black-Scholes Model | The assumptions used in the Black-Scholes Model during the nine months ended September 30, 2013 are set forth in the table below.
|  | Nine Months Ended September 30, 2013 |  |  | Year Ended December 31, 2012 |
Risk-free interest rate |  |  | 0.65-1.71 | % |  |  | 0.61-2.23 | %
Volatility |  |  | 33.35-45.76 | % |  |  | 40.77-46.01 | %
Term (in years) |  |  | 5-6.25 |  |  |  | 5-6.25 |
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Schedule of activity under the LTIP | A summary of activity under the LTIP and 2012 SOP and related information follows:
|  | Number of Shares Under Company Option |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life in Years |  |  | Aggregate Intrinsic Value |
Balance at December 31, 2012 |  |  | 13,733,488 |  |  | $ | 1.16 |  |  |  | 7.7 |  |  | $ | 26,804,117 |
Granted |  |  | 1,708,677 |  |  | $ | 2.75 |  |  |  | 9.6 |  |  | $ | 335,234 |
Exercised |  |  | (61,372 | ) |  |  |  |  |  |  |  |  |  |  |  |
Expired |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Cancelled |  |  | (600,000 | ) |  |  |  |  |  |  |  |  |  |  |  |
Balance at September 30, 2013 |  |  | 14,780,793 |  |  | $ | 1.27 |  |  |  | 7.6 |  |  | $ | 24,865,677 |
Vested and Exercisable at September 30, 2013 |  |  | 10,101,920 |  |  | $ | 0.65 |  |  |  | 6.6 |  |  | $ | 22,803,024 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph i -Article 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 28 -Article 5 + Details
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- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
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