ClearPoint Neuro, Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

Note 8 - Stockholders' Equity (Tables)

Note 8 - Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2012

Note 8 - Stockholders' Equity (Tables) [Line Items]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

Derivative liability at transaction date related to warrants	$	1,957,720
Loss on change in fair value of derivative liability related to warrants		170,582
Derivative liability at December 31, 2012 related to warrants	$	2,128,302

Impact of Conversions to Common Stock [Table Text Block]

	Impact to Balance Sheet								Increase in
	Before Conversions		Impact of Conversions			After Conversions			Common Shares Outstanding

Impact on assets
Deferred costs	$	799,123	$	(799,123	)	$	-			-

Impact on liabilities and equity
Accrued interest on converted notes	$	974,311	$	(974,311	)	$	-			1,092,559
Summer 2011 Notes, net		904,397		(904,397	)		-			2,183,334
March 2010 Notes, net		4,057,500		(4,057,500	)		-			4,071,000
2011 Unit Offering Notes, net		4,367,482		(4,367,482	)		-			9,050,834
Total impact on liabilities		10,303,690		(10,303,690	)		-			16,397,727
Series A convertible preferred stock		7,965,000		(7,965,000	)		-			7,965,000
Additional paid-in capital and common stock		-		19,345,209			19,345,209			-
Accumulated deficit		-		(1,875,642	)		(1,875,642	)		-
Total impact on equity		7,965,000		9,504,567			17,469,567			7,965,000
Total impact on liabilities and equity	$	18,268,690	$	(799,123	)	$	17,469,567			24,362,727

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Options Outstanding			Options Exercisable		Range of Exercise Prices				Weighted- average Exercise price per share		Intrinsic Value (1)
Balance at January 1, 2010		669,777					$0.88	-	24.00	$	4.28	$	3,694,400
Exercisable at January 1, 2010					483,364		0.88	-	24.00		2.78		3,424,333
Granted (2)		3,246,450						1.80			1.80
Cancelled or forfeited		(153,750	)				3.20	-	24.00		5.06
Outstanding at December 31, 2010		3,762,477					0.88	-	24.00		2.11		262,500
Exercisable at December 31, 2010					433,746		0.88	-	24.00		3.03		262,500
Cancelled or forfeited		(82,500	)				1.80	-	24.00		4.93
Outstanding at December 31, 2011		3,679,977					0.88	-	9.64		2.05		-
Exercisable at December 31, 2011					1,501,659		0.88	-	9.64		2.15		-
Granted (2)		3,097,400					1.00		2.13		1.08
Exercised		(14,000	)				1.80	-	9.64		1.80
Cancelled or forfeited		(331,250	)				1.80	-	9.64		2.14
Outstanding at December 31, 2012		6,432,127					0.88	-	9.64		1.58		1,846,040
Exercisable at December 31, 2012					2,386,909		0.88	-	9.64		2.13		205,000

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

				Options Outstanding						Options Exercisable
Range of Exercise Prices				Number Outstanding		Weighted - Average Remaining Contractual Life		Weighted - Average Exercise Price		Number Exercisable		Weighted - Average Exercise Price
	$0.88	-	1.17		3,033,900		8.53	$	0.99		287,500	$	0.89
	1.63	-	2.13		3,216,700		8.16		1.79		1,917,882		1.80
	3.20	-	9.64		181,527		3.55		7.61		181,527		7.61
					6,432,127		8.20		1.58		2,386,909		2.13

Schedule of Nonvested Share Activity [Table Text Block]

Nonvested Stock Options	Shares			Weighted - Average Grant Date Fair Value
Nonvested January 1, 2010		186,413		$	2.41
Granted		3,246,450			0.83
Forfeited		(41,667	)		1.92
Vested		(62,465	)		2.31
Nonvested December 31, 2010		3,328,731			0.88
Forfeited		(51,833	)		0.88
Vested		(1,098,580	)		0.89
Nonvested December 31, 2011		2,178,318			0.87
Granted		3,097,400			0.48
Forfeited		(258,517	)		0.85
Vested		(971,984	)		1.04
Nonvested December 31, 2012		4,045,218			0.56

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	Years Ended December 31,
	2012			2010
Dividend yield		0%			0%
Expected Volatility	45.17%	to	45.32%		44.81%
Risk free Interest rates	0.83%	to	1.13%		2.36%
Expected lives (years)		6.0			6.0

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

	Shares			Weighted - Average Exercise Price
Outstanding at January 1, 2010		410,542		$	0.42
Issued		25,444			8.00
Outstanding at December 31, 2010		435,986			3.74
Expired		(410,542	)		3.48
Issued		2,122,500			0.29
Exercised		(225,000	)		0.01
Outstanding at December 31, 2011		1,922,944			0.43
Issued		7,652,071			1.05
Shares withheld on net settled exercises		(186,347	)		0.70
Exercised		(624,832	)		0.67
Outstanding at December 31, 2012		8,763,836			0.95

Private Placements [Member]

Note 8 - Stockholders' Equity (Tables) [Line Items]

Assumptions Used in Calculating Fair Value of Warrants Issued

	December 31, 2012		Transaction Date
Dividend yield		0%		0%
Expected volatility		47.08%		47.64%
Risk free interest rate		0.65%		0.75%
Expected remaining term (in years)		4.51		5.00

Director [Member]

Note 8 - Stockholders' Equity (Tables) [Line Items]

Assumptions Used in Calculating Fair Value of Warrants Issued

	Year Ended December 31,
	2012			2011			2010
Dividend yield		0%			0%			0%
Expected Volatility	40.96%	to	46.88%	48.67%	to	49.36%		44.81%
Risk free Interest rates	0.19%	to	0.77%	0.81%	to	1.13%		2.36%
Expected lives (years)	1.6	to	5.0		5.0			5.0

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References + Details

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details