Annual report pursuant to Section 13 and 15(d)

11. Stockholders' Equity (Tables)

v3.4.0.3
11. Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Summary of option activity
Shares approved for issuance at plan inception     2,048,189  
Options granted in 2014     (587,830 )
Options cancelled in 2014     4,096  
Restricted shares issued in 2014     (86,024 )
Balance at December 31, 2014     1,378,431  
Options granted in 2015     (364,578 )
Options cancelled in 2015     92,168  
Plan cancellation     (1,106,021 )
Balance at December 31, 2015     –  
 
Schedule of stock option activity by exercise price
Options outstanding     Options vested and exercisable  
Exercise price     Number outstanding     Weighted average remaining contractual life (years)     Weighted average exercise     Aggregate intrinsic value     Number vested     Weighted average exercise     Aggregate intrinsic value  
$6.10       1,411,094       2.28     $6.10     $ –       1,411,094     $6.10          
$9.76       130,874       9.54     $9.76       –       130,874     $9.76       –  
          1,541,968             $6.41     $ –       1,541,968     $6.41     $ –  
 
Warrant activity
    Number of warrants     Weighted average exercise price     Weighted average remaining contractual term (years)     Aggregate intrinsic value  
Outstanding and Exercisable at December 31, 2014     122,891     $ 8.14       –     $ –  
Outstanding and Exercisable at December 31, 2015     6,898,560     $ 1.83       5.00     $ –  
 
Basic and Diluted Income Per Share
    Year Ended December 31,  
    2015     2014  
Basic:                
Numerator- net income (loss) available to common stockholders   $ (37,589,694 )     2,810,032  
Denominator - weighted-average shares outstanding     12,456,486       12,247,978  
Net income (loss) per share -Basic   $ (3.02 )   $ 0.23  
Diluted:                
Numerator:                
Net income (loss) available to common stockholders   $ (37,589,694 )   $ 2,810,032  
Interest expense on convertible debt, net of taxes     –       14,436  
      (37,589,694 )     2,824,468  
Denominator:                
Weighted-average shares outstanding     12,465,486       12,247,978  
Weighted-average equivalent shares options     –       249,952  
Weighted-average equivalent shares from convertible debt     –       91,031  
Weighted-average equivalent shares from Series C convertible preferred stock     –       –  
Weighted-average equivalent shares from Series D convertible preferred stock     –       64,644  
Weighted-average equivalent shares from Series E convertible preferred stock     –       14,253  
      12,465,486       12,667,858  
Net income (loss) per share - Diluted   $ (3.02 )   $ 0.22  
 
Antidilutive Securities
    December 31  
    2015     2014  
Stock options outstanding     1,822,675       6,042,157  
Warrants outstanding     6,898,560       –  
Convertible debt     1,074,402       –  
Convertible preferred stock     11,540,397       –  
      21,336,034       6,042,157  
 
Granted to employee [Member]    
Option assumptions  
Stock price   $6.10
Expected term   1 year
Expected volatility   24.43%
Risk free interest rate   0.30%
Dividend yield   0
Granted to various employees [Member]    
Option assumptions  
Stock price   $6.10
Expected term   5.375 years
Expected volatility   27.72%
Risk free interest rate   1.46%
Dividend yield   0
Granted to director [Member]    
Option assumptions  
Stock price   $6.10
Expected term   2 years
Expected volatility   24.43%
Risk free interest rate   0.43%
Dividend yield   0