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Subsequent Events | 9 Months Ended
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Sep. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events | 14. Subsequent Events On October 1, 2013, the Company entered into a one year consulting agreement pursuant to which, in exchange for certain services, the consultant will receive up to 1,000,000 shares of the Company’s common stock in addition to cash payments. In November 2013, the Company’s board of directors approved the issuance of 1,000,000 shares of the Company’s common stock to the consultant, of which 500,000 shares will be held in escrow. If neither party has terminated the consulting agreement during the first six month period after the execution of the agreement, the escrowed shares will be released to the consultant. The consultant will also be paid a monthly fee of $7,000 beginning on October 1, 2013 through January 2014. Beginning February 2014 and May 2014, the monthly fee will increase to $10,000 and $12,500, respectively, for the duration of the agreement. During November 2013, the Company’s board of directors approved the 2013 Stock Plan. The 2013 Stock Plan covers up to 2,000,000 shares of common stock, and all officers, directors, employees, consultants and advisors are eligible to be granted awards under the 2013 Stock Plan. The 2013 Stock Plan is administered by the Company’s board of directors. During November 2013, two consultants of the Company were each granted options to purchase 200,000 shares of the Company’s Common Stock with an exercise price of $0.43 per share. These options were granted separate and apart from the 2011 Plan and were not granted from the shares available under the Company’s 2011 Plan. These options were granted under the 2013 Stock Plan. One-third of the options vest upon the grant date, the second third vests on August 12, 2014, and the remaining third vests on August 12, 2015. During November 2013, the Company’s board of directors also approved a grant of 25,000 shares of the Company’s common stock to a consultant in exchange for marketing services.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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