Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Stockholders' Equity (Tables)

v2.4.0.8
Note 6 - Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 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

    (1,359,336 )

Fair value at June 30, 2014

  $ 2,388,522  
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

    322,000       1.04  

Exercised

    (162,500 )     0.88  

Forfeited

    (130,000 )     1.88  

Outstanding at June 30, 2014

    7,459,725       1.46  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

Dividend yield

    0 %

Expected Volatility

    49.7% to 51.8 %

Risk free Interest rates

    1.95% to 2.71 %

Expected lives (in years)

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

Three Months Ended June 30,

   

Six Months Ended June 30,

 

2014

   

2013

   

2014

   

2013

 
$ 184,162     $ 324,124     $ 363,908     $ 642,591  
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 June 30, 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

    0.0%  

Expected volatility

    45.5% - 100.0%  

Risk free interest rates

    0.47% - 1.09%  

Expected remaining term (in years)

    3.01 to 3.57