Quarterly report pursuant to sections 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

v2.4.0.8
STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 30, 2013
Equity [Abstract]  
Status of outstanding stock warrants

 

    Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life (Years)  
Balance at December 31, 2012     199,162     $ 7.02       6.52  
Granted     582,175       6.50       3.00  
Cancelled     -       -       -  
Forfeited     (73,077)       6.50       8.92  
Exercised     -       -       -  
Balance at September 30, 2013     708,260     $ 6.65       4.40  
                         
Warrants exercisable at September 30, 2013     680,055     $ 6.67          
Weighted average fair value of warrants granted during the period ended           $ 6.50          

Summary of stock options

 

    Number of Options     Weighted Average Exercise Price     Weighted Average Remaining Contractual Life (Years)  
Balance at December 31, 2012     153,846       6.50       9.87  
Granted     794,230       5.05       4.03  
Exercised     -       -       -  
Forfeited     -       -       -  
Cancelled     (105,769)       11.05       4.70  
Balance outstanding at September 30, 2013     842,307     $ 4.91       5.46  
                         
Options exercisable at September 30, 2013     102,564     $ 6.56          
Options expected to vest     739,743                  
Weighted average fair value of options granted during the period           $ 3.54