Annual report pursuant to Section 13 and 15(d)

Note 7 - Stockholders' Equity (Tables)

v2.4.1.9
Note 7 - Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2014
Note 7 - Stockholders' Equity (Tables) [Line Items]  
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

Balance at January 1, 2013

  $ 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  

Gain on change in fair value

    (1,549,696 )

Balance at December 31, 2014

  $ 2,198,162  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
   

Options Outstanding

   

Options Exercisable (1)

   

Range of

Exercise Prices

   

Weighted-average Exercise price per share

   

Intrinsic

Value(2)

 

Balance at January 1, 2013

    6,432,127             $ 0.88       -     $ 9.64     $ 1.58     $ 1,846,040  

Exercisable at January 1, 2013

            2,386,909       0.88       -       9.64       2.13       205,000  

Granted (3)

    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  

Granted (3)

    3,284,500               0.80       -       1.46       1.09          

Exercised

    (162,500 )             0.88       -       0.88       0.88          

Cancelled or forfeited

    (208,916 )             0.88       -       9.64       1.42          

Outstanding at December 31, 2014

    10,343,309               0.80       -       9.64       1.36       4,800  

Exercisable at December 31, 2014

            5,627,505       1.00       -       9.64       1.56       600  
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
   

Options Outstanding

   

Options Exercisable (1)

 

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

 

$ 0.80

- $1.13     5,997,567       8.37     $ 1.05       2,055,433       6.71     $ 1.01  

1.16

- 2.13     4,252,117       7.37       1.70       3,478,447       6.76       1.76  

3.20

- 9.64     93,625       3.14       6.04       93,625       3.14       6.04  
      10,343,309       7.91       1.36       5,627,505       6.68       1.56  
Schedule of Nonvested Share Activity [Table Text Block]

Nonvested Stock Options

 

Shares

   

Weighted - Average Grant Date Fair Value

 

Nonvested January 1, 2013

    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  

Granted

    3,284,500       0.54  

Forfeited

    (46,416 )     0.58  

Vested

    (1,536,213 )     0.50  

Nonvested December 31, 2014

    4,715,804       0.54  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
   

Years Ended December 31,

 
   

2014

   

2013

 

Dividend yield

    0%       0%  

Expected Volatility

    49.4% to 51.8%       43.4% to 46.0%  

Risk free Interest rates

    1.73% to 2.71%       0.92% to 2.10%  

Expected lives (in years)

    5.5 - 6.0       5.0 - 6.0  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
   

Shares

   

Weighted - Average Exercise Price

 

Outstanding at January 1, 2013

    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   

Issued

    8,622,271       0.98  

Outstanding at December 31, 2014

    20,759,136       0.91 (1) 
Schedule of Stockholders' Equity Note, Warrants Outstanding [Table Text Block]
 

Exercise

Price

   

Number Outstanding

   

Weighted - Average Remaining Contractual Life

   

Intrinsic

Value (1)

 
  $ 0.60       458,977       3.14     $ 105,565  
    0.64       4,600,842       2.16       874,160  
    0.75       2,577,750       2.11       206,220  
    0.86       7,432,021       4.98       -  
    0.97       343,578       2.50       -  
    1.00       1,360,000       2.35       -  
    1.19       2,727,274       2.50       -  
    1.75       1,233,250       4.23       -  
    8.00       25,444       0.24       -  
            20,759,136       3.37     $ 1,185,945  
Common Stock Warrants Issued in Private Placement [Member]  
Note 7 - Stockholders' Equity (Tables) [Line Items]  
Assumptions Used in Calculating Fair Value of Warrants Issued [Table Text Block]
                   

Transaction Date

 
   

December 31,

   

January 2013

 
   

2014

   

2013

   

Financing

 

Dividend yield

    0%       0%       0%  

Expected volatility

    39.3% - 100.0%       40.4% - 100.0%       47.1% - 100.0%  

Risk free interest rates

    0.67% - 1.12%       1.01% - 1.27%       0.91%  

Expected remaining term (in years)

    2.51 to 3.07       3.51 to 4.07       5.00