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, 2013

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

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

Balance at January 1, 2012	$	-
Fair value of July 2012 warrants at transaction date		1,957,720
Loss on change in fair value		170,582
Balance at December 31, 2012		2,128,302
Fair value of January 2013 warrants at transaction date		3,305,245
Gain on change in fair value		(1,685,689	)
Balance at December 31, 2013	$	3,747,858

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, 2012		3,679,977				$	0.88	-	$	9.64	$	2.05	$	-
Exercisable at January 1, 2012					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
Granted (2)		1,219,500					1.09	-		1.75		1.43
Cancelled or forfeited		(221,402	)				1.00	-		9.64		4.33
Outstanding at December 31, 2013		7,430,225					0.88	-		9.64		1.47		1,493,368
Exercisable at December 31, 2013					4,416,292		0.88	-		9.64		1.68		566,589

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 Remaining Contractual Life		Weighted - Average Exercise Price
$0.88	-	$1.26		3,375,650		7.31	$	1.01	1,189,384			6.36	$	0.97
1.40	-	2.13		3,948,450		8.29		1.74	3,120,783			7.40		1.79
3.20	-	9.64		106,125		4.17		6.16		106,125		4.17		6.16
				7,430,225		7.79		1.47	4,416,292			7.04		1.68

Schedule of Nonvested Share Activity [Table Text Block]

Nonvested Stock Options	Shares			Weighted - Average Grant Date Fair Value
Nonvested January 1, 2012		2,178,318			0.87
Granted		3,097,400			0.48
Forfeited		(258,516	)		0.85
Vested		(971,984	)		1.04
Nonvested December 31, 2012		4,045,218			0.56
Granted		1,219,500			0.63
Forfeited		(94,833	)		0.76
Vested		(2,155,952	)		0.58
Nonvested December 31, 2013		3,013,933			0.52

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

	Years Ended December 31,
	2013			2012
Dividend yield		0%			0%
Expected Volatility	43.4%	to	46.0%	45.2%	to	45.3%
Risk free Interest rates	0.92%	to	2.10%	0.83%	to	1.13%
Expected lives (years)	5.0	-	6.0		6.0

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

	Shares			Weighted - Average Exercise Price
Outstanding at January 1, 2012		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
Expired		(41,666	)		1.00
Issued		4,643,842			1.75
Shares withheld on net settled exercises		(101,318	)		0.85
Exercised		(1,127,829	)		0.08
Outstanding at December 31, 2013		12,136,865			1.33

Private Placements [Member]

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

Assumptions Used in Calculating Fair Value of Warrants Issued [Table Text Block]

						Transaction Date
	December 31,					January 2013			July 2012
	2013			2012		Financing			Financing
Dividend yield		0%			0%		0%			0%
Expected volatility	40.38%	-	100.00%		47.08%	47.08%	-	100.00%		47.64%
Risk free interest rates	1.01%	-	1.27%		0.65%		0.91%			0.75%
Expected remaining term (in years)	3.51	to	4.07		4.51		5.00			5.00

Director [Member]

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

Assumptions Used in Calculating Fair Value of Warrants Issued [Table Text Block]

	Year Ended December 31,
	2013		2012
Dividend yield		0%		0%
Expected Volatility		46.49%	40.96%	to	46.88%
Risk free Interest rates		1.38%	0.19%	to	0.77%
Expected lives (years)		5.0	1.6	to	5.0

- 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