XML 41 R30.htm IDEA: XBRL DOCUMENT v3.5.0.2
STOCKHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2016
Stockholders' Equity Note [Abstract]  
Schedule of assumptions used in the Black-Scholes Model of stock options

The assumptions used in the Black-Scholes Model for options granted during the six months ended June 30, 2016 and 2015 are set forth in the table below.

 

    Six Months Ended June 30,
    2016   2015
Risk-free interest rate     1.26-1.70 %     1.47-1.54 %
Volatility     70.44-71.22 %     58.77-62.94 %
Term (in years)     6.25       5.27-6.25  
Dividend yield     0.00 %     0.00 %
Schedule of plan activity

A summary of activity under the 2009 and 2012 Plans and related information follows:

 

    Number of Shares Underlying Stock
Options
  Weighted Average Exercise
Price
  Weighted Average Remaining Contractual Life in Years   Aggregate Intrinsic
Value
Balance at December 31, 2015     20,725,325     $ 3.28       6.5     $ 146,864,184  
Granted     373,000     $ 7.92       9.7          
Exercised     (417,168 )   $ 2.34             $ 2,518,090  
Expired/Forfeited     (12,500 )   $ 6.07                  
Balance at June 30, 2016     20,668,657     $ 3.38       6.0     $ 107,122,188  
Vested and Exercisable at  June 30, 2016     16,782,792     $ 2.45       5.4     $ 102,042,737  
Unvested at June 30, 2016     3,885,865     $ 7.42       9.0     $ 5,079,451