Equity (Tables)
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6 Months Ended |
Jun. 30, 2013
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Equity [Abstract] |
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Schedule of Warrant Activity |
A summary of the stock warrant activity during the six months ended June 30, 2013 is presented below: | | | | | | | | Weighted | | | | | | | | | | Weighted | | Average | | | | | | | | | | Average | | Remaining | | | | | | | Number of | | Exercise | | Life | | Intrinsic | | | | Warrants | | Price | | In Years | | Value | | | | | | | | | | | | | | | | Balance, December 31, 2012 | | | 201,908 | | $ | 169.80 | | | | | | | | Issued | | | 90,476 | | | 34.52 | | | | | | | | Exercised | | | - | | | - | | | | | | | | Cancelled | | | - | | | - | | | | | | | | Balance, June 30, 2013 | | | 292,384 | | $ | 126.57 | [1] | | 3.99 | | $ | - | | | | | | | | | | | | | | | | Exercisable, June 30, 2013 | | | 292,384 | | $ | 126.57 | [1] | | 3.99 | | $ | - | | [1] - Investor warrants to purchase 501 shares of common stock had a variable exercise price as of June 30, 2013. These warrants are excluded from the weighted average exercise price. |
Schedule of Warrant |
The following table presents information related to stock warrants at June 30, 2013: Warrants Outstanding | | Warrants Exercisable | | | | | | | | Weighted | | | | | | | | Outstanding | | Average | | Exercisable | | Exercise | | Number of | | Remaining Life | | Number of | | Price | | Warrants | | In Years | | Warrants | | | | | | | | | | | | | | $ | 3.00 | | | 57,253 | | | 4.96 | | | 57,253 | | | 45.00 | | | 2,651 | | | 4.35 | | | 2,651 | | | 67.50 | | | 4,066 | | | 2.55 | | | 4,066 | | | 75.00 | | | 3,376 | | | 3.29 | | | 3,376 | | | 90.00 | | | 68,489 | | | 4.31 | | | 68,489 | | | 112.50 | | | 1,935 | | | 3.50 | | | 1,935 | | | 187.50 | | | 128,457 | | | 3.24 | | | 128,457 | | | 198.00 | | | 20,001 | | | 5.40 | | | 20,001 | | | 300.00 | | | 5,655 | | | 4.18 | | | 5,655 | | | Variable | | | 501 | | | 2.15 | | | 501 | | | | | | 292,384 | | | 3.99 | | | 292,384 | | |
Schedule of Black-Scholes Option Pricing Model To Options Granted |
In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions: | | For The Three Months Ended | | For The Six Months Ended | | | | June 30, | | June 30, | | | | 2013 | | 2012 | | 2013 | | 2012 | | Risk free interest rate | | | n/a | | | n/a | | | n/a | | | 0.96 - 1.11 | % | Expected term (years) | | | n/a | | | n/a | | | n/a | | | 5.40 - 6.00 | | Expected volatility | | | n/a | | | n/a | | | n/a | | | 75 | % | Expected dividends | | | n/a | | | n/a | | | n/a | | | 0 | % | |
Schedule of Share-based Compensation, Stock Options, Activity |
A summary of the option activity during the six months ended June 30, 2013 is presented below: | | | | | | | | Weighted | | | | | | | | | | Weighted | | Average | | | | | | | | | | Average | | Remaining | | | | | | | Number of | | Exercise | | Life | | Intrinsic | | | | Options | | Price | | In Years | | Value | | | | | | | | | | | | | | | | Outstanding, December 31, 2012 | | | 82,272 | | $ | 103.34 | | | | | | | | Granted | | | - | | | - | | | | | | | | Exercised | | | - | | | - | | | | | | | | Forfeited | | | (12,792) | | | 103.61 | | | | | | | | Outstanding, June 30, 2013 | | | 69,480 | | $ | 103.29 | | | 8.1 | | $ | - | | | | | | | | | | | | | | | | Exercisable, June 30, 2013 | | | 48,015 | | $ | 103.62 | | | 8.4 | | $ | - | | |
Schedule of Stock Option Outstanding |
The following table presents information related to stock options at June 30, 2013: Options Outstanding | | Options Exercisable | | | | | | | | Weighted | | | | | | | | Outstanding | | Average | | Exercisable | | Exercise | | Number of | | Remaining Life | | Number of | | Price | | Options | | In Years | | Options | | | | | | | | | | | | | | $ | 54.00 | | | 167 | | | - | | | - | | | 60.00 | | | 167 | | | - | | | - | | | 66.00 | | | 250 | | | - | | | - | | | 103.50 | | | 57,513 | | | 8.5 | | | 41,785 | | | 104.40 | | | 11,383 | | | 7.4 | | | 6,230 | | | | | | 69,480 | | | 8.4 | | | 48,015 | | |