Quarterly report pursuant to Section 13 or 15(d)

Stock Options (Tables)

v3.2.0.727
Stock Options (Tables)
6 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Assumptions Used Principally in Determining Fair Value of Options Granted

The assumptions used principally in determining the fair value of options granted were as follows:

 

     Six Months Ended June 30,  
     2015     2014  

Risk free interest rate

     1.98     1.94

Expected dividend yield

     0     0

Expected term in years

     8.59        6.25   

Expected volatility

     97     91.59

Estimated forfeiture rate

     0.65     20.00
Summary of Option Activity

A summary of option activity for the six months ended June 30, 2015 is presented below:

 

Options

   Shares      Weighted
Average
Exercise Price
     Weighted
Average
Remaining
Contractual
Term in
Years
     Average
Intrinsic
Value
 

Outstanding at December 31, 2014

     3,556,691       $ 0.83         

Granted

     192,500       $ 2.91         

Exercised

     (33,021    $ 0.11          $ 95,108   
  

 

 

    

 

 

    

 

 

    

 

 

 

Outstanding at June 30, 2015

     3,716,170       $ 0.95         8.49       $ 7,949,972   

Vested June 30, 2015

     1,219,696       $ 0.67         7.65       $ 2,940,369