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COMMON STOCK EQUIVALENTS (Tables)
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6 Months Ended |
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Jun. 30, 2014
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| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] |
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| Schedule of share based payment award warrants valuation assumptions |
The assumptions used in connection with the valuation of warrants using the multinomial lattice model were as follows:
| | | June 30, 2014 | |
| Number of shares underlying the warrants | | | 18,421,746 | |
| Exercise price | | $ | 1.00 - $1.05 | |
| Volatility | | | 87.83 | % |
| Risk free interest rate | | | 1.62 | % |
| Expected dividend yield | | | 0.0 | % |
| Expected warrant life (years) | | | 4.84 - 5.00 | |
| Stock price | | $ | 0.81 | |
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| Summary of outstanding options |
The following table accounts for the Company’s Plans option activity through June 30, 2014:
| | | Number of
Shares | | | Weighted
Average
Exercise
Price | |
| Options outstanding at January 1, 2014 | | | 4,943,665 | | | $ | 1.43 | |
| Options granted | | | 2,718,000 | | | $ | 1.02 | |
| Options exercised | | | — | | | $ | — | |
| Options canceled/forfeited | | | (337,000) | | | $ | 1.44 | |
| Options outstanding at June 30, 2014 | | | 7,324,665 | | | $ | 1.27 | |
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| Summary of outstanding warrants |
The following table accounts for the Company’s warrant activity for the period of January 1, 2014 through June 30, 2014:
| | | Number of
Shares | | Weighted
Average
Exercise Price | |
| Warrants outstanding at January 1, 2014 | | | 37,895,137 | | $ | 1.42 | |
| Warrants granted | | | 6,382,616 | | $ | 1.03 | |
| Warrants exercised | | | (959,000) | | $ | 0.69 | |
| Warrants canceled/forfeited | | | — | | | — | |
| Warrants outstanding at June 30, 2014 | | | 43,318,753 | | $ | 1.38 | |
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Warrant [Member]
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| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] |
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| Summary of outstanding and exercisable convertibles |
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Warrants outstanding as of June 30, 2014: | |
| | | | | Weighted Average | | | | |
| | | | | Contractual Life | | Weighted Average | |
| Range of Exercise Price | | Number Outstanding | | (in years) | | Exercise Price | |
| $1.00 - $30.00 | | 43,318,753 | | 3.27 | | $ | 1.38 | |
| | | | | | | | | |
| Warrants exercisable as of June 30, 2014: | |
| | | | | Weighted Average | | | | |
| | | | | Contractual Life | | Weighted Average | |
| Range of Exercise Price | | Number Outstanding | | (in years) | | Exercise Price | |
| $1.00 - $30.00 | | 43,301,953 | | 3.51 | | $ | 1.38 | |
| | | | | | | | | |
| Warrants outstanding as of December 31, 2013: | |
| | | | | Weighted Average | | | | |
| | | | | Contractual Life | | Weighted Average | |
| Range of Exercise Price | | Number Outstanding | | (in years) | | Exercise Price | |
| $0.50 - $51.50 | | 37,895,137 | | 3.69 | | $ | 1.42 | |
| | | | | | | | | |
| Warrants exercisable as of December 31, 2013: | |
| | | | | Weighted Average | | | | |
| | | | | Contractual Life | | Weighted Average | |
| Range of Exercise Price | | Number Outstanding | | (in years) | | Exercise Price | |
| $1.00 - $51.50 | | 37,873,337 | | 3.69 | | $ | 1.42 | |
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Employee Stock Option [Member]
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| Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] |
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| Summary of outstanding and exercisable convertibles |
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Options outstanding as of June 30, 2014: | |
| Range of Exercise Price | | Number Outstanding | | Weighted
Average
Contractual Life
(in years) | | Weighted Average
Exercise Price | |
| $0.50 - $1.61 | | 7,324,665 | | 4.44 | | $ | 1.27 | |
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| Options outstanding as of December 31, 2013: | |
| Range of Exercise Price | | Number Outstanding | | Weighted
Average
Contractual Life
(in years) | | Weighted Average
Exercise Price | |
| $0.50 - $1.61 | | 4,943,665 | | 4.09 | | $ | 1.43 | |
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