|
STOCK BASED COMPENSATION (Tables)
|
12 Months Ended |
|
Dec. 31, 2013
|
| Stock Based Compensation Tables |
|
| Schedule of Activity of Restricted Shares of Common Stock |
A
summary of the activity of restricted shares of common stock for the years ended December 31, 2013 and 2012 is as follows:
| |
|
Shares |
|
|
Weighted
Average Grant Date Fair Value |
|
| |
|
|
|
|
|
|
| Non-vested on Dec 31, 2011 |
|
|
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
| Granted |
|
|
540,000 |
|
|
|
0.61 |
|
| Vested |
|
|
(540,000 |
) |
|
|
0.61 |
|
| Forfeited |
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| Nonvested on Dec 31, 2012 |
|
|
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
| Granted |
|
|
650,000 |
|
|
|
0.84 |
|
| Vested |
|
|
(545,000 |
) |
|
|
0.83 |
|
| Forfeited |
|
|
(105,000 |
) |
|
|
0.90 |
|
| |
|
|
|
|
|
|
|
|
| Non-vested on Dec 31, 2013 |
|
|
- |
|
|
$ |
- |
|
|
| Schedule of Warrants Outstanding |
The
following table summarizes the warrants outstanding and the number of shares of common stock subject to exercise as of December
31, 2013 and 2012 and the changes therein during the years then ended:
| |
|
Employees |
|
|
Services |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Weighted
Average Exercise Price |
|
|
Shares |
|
|
Weighted
Average Exercise Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding and Exercisable at December 31,
2011 |
|
|
- |
|
|
$ |
- |
|
|
|
250,000 |
|
|
$ |
1.69 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrants granted |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Warrants exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Warrants expired/cancelled |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding and Exercisable at December
31, 2012 |
|
|
- |
|
|
$ |
- |
|
|
|
250,000 |
|
|
$ |
1.69 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrants granted |
|
|
- |
|
|
|
- |
|
|
|
1,200,000 |
|
|
|
0.65 |
|
| Warrants exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Warrants expired/cancelled |
|
|
- |
|
|
|
- |
|
|
|
(600,000 |
) |
|
|
0.65 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding and Exercisable at December
31, 2013 |
|
|
- |
|
|
$ |
- |
|
|
|
850,000 |
|
|
$ |
0.96 |
|
|
| Schedule of Stock Warrants Outstanding and Exercisable |
The
following table summarizes information about stock warrants outstanding and exercisable as of December 31, 2013:
| |
|
Outstanding |
|
Exercisable |
|
Range
of Exercise Price |
|
Number
of Shares |
|
Weighted
Average Exercise Price |
|
Weighted
Average
Remaining
Life
(Years) |
|
Number
of Shares |
|
Weighted
Average Exercise Price |
|
Weighted
Average Remaining Life
(Years) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| $0.65 |
|
|
600,000 |
|
$ |
0.65 |
|
|
4.31 |
|
|
600,000 |
|
$ |
0.65 |
|
|
4.31 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $1.52 - $1.80 |
|
|
250,000 |
|
$ |
1.69 |
|
|
2.47 |
|
|
250,000 |
|
$ |
1.69 |
|
|
2.47 |
| |
| Schedule of Stock Options Activity |
The
following table summarizes the stock options outstanding and the number of shares of common stock subject to exercise as of December
31, 2013 and 2012 and the changes therein during the years then ended:
| |
|
Options
Outstanding |
|
|
Options
Exercisable |
|
| |
|
Shares |
|
|
Weighted
Average Exercise Price |
|
|
Shares |
|
|
Weighted
Average Exercise Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2011 |
|
|
1,315,556 |
|
|
$ |
0.69 |
|
|
|
787,778 |
|
|
$ |
0.69 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Options granted |
|
|
525,000 |
|
|
|
0.60 |
|
|
|
525,000 |
|
|
|
0.60 |
|
| Options vested |
|
|
- |
|
|
|
- |
|
|
|
263,889 |
|
|
|
0.68 |
|
| Options exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Options expired/cancelled |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2012 |
|
|
1,840,556 |
|
|
$ |
0.66 |
|
|
|
1,576,667 |
|
|
$ |
0.66 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Options granted |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Options vested |
|
|
- |
|
|
|
- |
|
|
|
263,889 |
|
|
|
0.68 |
|
| Options exercised |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Options expired/cancelled |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding at December 31, 2012 |
|
|
1,840,556 |
|
|
$ |
0.66 |
|
|
|
1,840,556 |
|
|
$ |
0.66 |
|
|
| Schedule of Stock Options Outstanding and Exercisable |
The
following table summarizes information about stock options outstanding and exercisable as of December 31, 2013:
| |
|
|
Outstanding |
|
|
Exercisable |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercise
Price |
|
|
Stock
Options
Outstanding |
|
|
Weighted
Average
Exercise
Price
Per Share |
|
|
Weighted
Average
Remaining Contractual Term
in
Years |
|
|
Stock
Options
Exercisable |
|
|
Weighted
Average
Exercise
Price
Per Share |
|
|
Weighted
Average
Remaining Contractual Term
in
Years |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ |
0.60 |
|
|
|
525,000 |
|
|
$ |
0.60 |
|
|
|
8.35 |
|
|
|
525,000 |
|
|
$ |
0.60 |
|
|
|
8.35 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ |
0.68 |
|
|
|
1,305,556 |
|
|
$ |
0.68 |
|
|
|
7.24 |
|
|
|
1,305,556 |
|
|
$ |
0.68 |
|
|
|
7.24 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| $ |
1.26 |
|
|
|
10,000 |
|
|
$ |
1.26 |
|
|
|
6.20 |
|
|
|
10,000 |
|
|
$ |
1.26 |
|
|
|
6.20 |
|
|