Quarterly report pursuant to sections 13 or 15(d)

Note 6 - Stockholders' Equity (Tables)

v2.4.0.8
Note 6 - Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2014
Note 6 - Stockholders' Equity (Tables) [Line Items]  
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

Fair value at December 31, 2013

  $ 3,747,858  

Gain on change in fair value

    (483,790 )

Fair value at March 31, 2014

  $ 3,264,068  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
   

Shares

   

Weighted -

Average

Exercise

Price

 

Outstanding at December 31, 2013

    7,430,225     $ 1.47  

Granted

    90,000       1.40  

Exercised

    (162,500 )     0.88  

Forfeited

    (12,500 )     7.06  

Outstanding at March 31, 2014

    7,345,225       1.47  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Dividend yield

    0 %

Expected Volatility

    51.66% to 51.82 %

Risk free Interest rates

    1.95% to 2.07 %

Expected lives (in years)

    6.0  
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]
 

Three Months Ended March 31,

 
 

2014

   

2013

 
  $ 179,746     $ 318,467  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
   

Shares

   

Weighted -

Average

Exercise

Price

 

Outstanding at December 31, 2013

    12,136,865     $ 1.33  

Issued (see Note 5)

    1,190,250       1.75  

Outstanding at March 31, 2014

    13,327,115       1.37  
Private Placements [Member]
 
Note 6 - Stockholders' Equity (Tables) [Line Items]  
Assumptions Used in Calculating Fair Value of Warrants Issued [Table Text Block]

Dividend yield

    0 %

Expected volatility

    45.46% - 100.00 %

Risk free interest rates

    1.08% - 1.24 %

Expected remaining term (in years)

    3.26 to 3.82