|
Stock-Based Compensation (Tables)
|
9 Months Ended |
12 Months Ended |
|
Sep. 30, 2012
|
Dec. 31, 2011
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Weighted average assumptions used to estimate fair value of options granted |
| | | Nine Months Ended September 30, 2012 | | Expected volatility | | 301.48% | | Expected life of option | | 6.05 Years | | Risk free interest rate | | | 1.00% | | Expected dividend yield | | | 0% | |
|
|
Expected life:
|
|
5 years
|
|
|
Expected volatility:
|
|
|
282.30
|
%
|
|
Risk free interest rate:
|
|
|
0.11
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
1-2 years
|
|
|
Expected volatility:
|
|
|
284.86
|
%
|
|
Risk free interest rate:
|
|
|
0.17
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
1-2 years
|
|
|
Expected volatility:
|
|
|
283.93
|
%
|
|
Risk free interest rate:
|
|
|
1.53
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
5 years
|
|
|
Expected volatility:
|
|
|
230.40
|
%
|
|
Risk free interest rate:
|
|
|
1.7
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
10 years
|
|
|
Expected volatility:
|
|
|
197
|
%
|
|
Risk free
interest rate:
|
|
|
1.8
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
10 years
|
|
|
Expected volatility:
|
|
|
197
|
%
|
|
Risk free interest rate:
|
|
|
1.8
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
10 years
|
|
|
Expected volatility:
|
|
|
197
|
%
|
|
Risk free interest rate:
|
|
|
1.8
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
10 years
|
|
|
Expected volatility:
|
|
|
197.00
|
%
|
|
Risk free interest rate:
|
|
|
2.23
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
10 years
|
|
|
Expected volatility:
|
|
|
197.8
|
%
|
|
Risk free interest rate:
|
|
|
2.42
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
10 years
|
|
|
Expected volatility:
|
|
|
197.8
|
%
|
|
Risk free interest rate:
|
|
|
2.42
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
10 years
|
|
|
Expected volatility:
|
|
|
198.3
|
%
|
|
Risk free interest rate:
|
|
|
2.04
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
Expected life:
|
|
6 years
|
|
|
Expected volatility:
|
|
|
187.50
|
%
|
|
Risk free interest rate:
|
|
|
2.07
|
%
|
|
Expected dividends:
|
|
|
0
|
%
|
|
| Summary of stock options and warrants by exercise price range |
|
The following table summarizes information about stock options and warrants for the Company as of December 31, 2011 and 2010:
|
2011 Options Outstanding
|
|
|
Options Exercisable
|
|
|
Range of
Exercise Price
|
|
Number
Outstanding at
December 31, 2011
|
|
|
Weighted Average Remaining Contractual Life
|
|
|
Weighted Average Exercise Price
|
|
|
Number
Exercisable at
December 31, 2011
|
|
Weighted Average Exercise Price
|
|
|
$0.00 - 0.13
|
|
|
4,650,000
|
|
|
|
0.97
|
|
|
$
|
0.13
|
|
|
|
4,575,000
|
|
|
$
|
0.13
|
|
|
$0.17 - 4.00
|
|
|
3,643,955
|
|
|
|
5.66
|
|
|
$
|
0.78
|
|
|
|
1,535,000
|
|
|
$
|
0.77
|
|
|
2010 Options Outstanding
|
|
|
Options Exercisable
|
|
|
Range of
Exercise Price
|
|
Number
Outstanding at
December 31, 2010
|
|
|
Weighted Average Remaining Contractual Life
|
|
|
Weighted Average Exercise Price
|
|
|
Number
Exercisable at
December 31, 2010
|
|
Weighted Average Exercise Price
|
|
|
$0.00 - 0.13
|
|
|
4,650,000
|
|
|
|
1.97
|
|
|
$
|
0.13
|
|
|
|
4,500,000
|
|
|
$
|
0.13
|
|
|
$0.17 - 1.00
|
|
|
1,950,000
|
|
|
|
1.78
|
|
|
$
|
0.75
|
|
|
|
1,080,000
|
|
|
$
|
0.81
|
|
|
2011 Warrants Outstanding
|
|
|
Warrants Exercisable
|
|
|
Range of
Exercise Price
|
|
Number
Outstanding at
December 31, 2011
|
|
|
Weighted Average Remaining Contractual Life
|
|
|
Weighted Average Exercise Price
|
|
|
Number
Exercisable at
December 31, 2011
|
|
Weighted Average Exercise Price
|
|
|
$2.50
|
|
|
2,342,500
|
|
|
|
4.05
|
|
|
$
|
2.50
|
|
|
|
2,342,500
|
|
|
$
|
2.50
|
|
|
|
Stock Options [Member]
|
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Summary of stock options granted |
| | | Number of Options | | | Weighted Average Exercise Price | | Stock Options: | | | | | | | | | Outstanding at December 31, 2011 | | | 8,118,955 | | | $ | 0.41 | | Granted | | | 1,237,500 | | | | 1.48 | | Exercised | | | (75,000 | ) | | | 0.33 | | Expired or canceled, during the period | | | (4,500,000 | ) | | | 0.13 | | Forfeited, during the period | | | (110,750 | ) | | | 0.97 | | Outstanding at September 30, 2012 | | | 4,670,705 | | | | 0.94 | | Exercisable at September 30, 2012 | | | 2,054,114 | | | $ | 0.73 | |
|
| |
|
Number of
Options
|
|
|
Weighted Average Exercise Price
|
|
|
Stock Options
|
|
|
|
|
|
|
|
Balance at December 31, 2009
|
|
|
9,600,000
|
|
|
|
|
|
Granted
|
|
|
95,000
|
|
|
$ |
0.27
|
|
|
Exercised
|
|
|
-
|
|
|
|
|
|
Forfeited
|
|
|
(3,450,000)
|
|
|
|
|
|
Balance at December 31, 2010
|
|
|
6,245,000
|
|
|
|
|
|
Granted
|
|
|
2,048,955
|
|
|
|
0.80
|
|
|
Exercised
|
|
|
—
|
|
|
|
|
|
|
Forfeited
|
|
|
—
|
|
|
|
|
|
|
Balance at December 31, 2011
|
|
|
8,293,955
|
|
|
|
|
|
|
Options Exercisable at December 31, 2011
|
|
|
6,110,000
|
|
|
$
|
0.41
|
|
|
Weighted Average Fair Value of Options Granted During 2011
|
|
|
|
|
|
$
|
0.80
|
|
|
| Summary of unvested stock options / restricted stock award |
| | | Number of Options | | | Weighted Average Grant Date Fair Value | | Unvested Stock Options: | | | | | | | | | Unvested stock options outstanding at December 31, 2011 | | | 1,885,955 | | | $ | 0.54 | | Granted | | | 1,237,500 | | | | 1.29 | | Vested | | | (396,114 | ) | | | 0.39 | | Forfeited, during the period | | | (110,750 | ) | | | 0.68 | | Unvested stock options outstanding at September 30, 2012 | | | 2,616,591 | | | $ | 0.91 | |
|
|
|
Non-employee Stock Option [Member]
|
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Summary of stock options granted |
| Number of Options | | | Weighted Average Exercise Price | | Non-employee Stock Options: | | | | | | | | | Outstanding at December 31, 2011 | | | 530,000 | | | $ | 0.94 | | Granted | | | 400,000 | | | | 1.21 | | Exercised | | | - | | | | | | Expired or canceled, during the period | | | - | | | | | | Forfeited, during the period | | | - | | | | | | Outstanding at September 30, 2012 | | | 930,000 | | | | 1.06 | | Exercisable at September 30, 2012 | | | 542,500 | | | $ | 0.95 | |
|
|
|
Restricted Stock [Member]
|
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Summary of unvested stock options / restricted stock award |
| | | Number of RSAs | | | Weighted Average Grant Date
Fair Value | | Restricted Stock Awards: | | | | | | | | | Outstanding at December 31, 2011 | | | 300,000 | | | $ | 0.45 | | | | | 4,850,000 | | | | 0.65 | | Vested | | | - | | | | | | Forfeited, during the period | | | - | | | | | | Outstanding at September 30, 2012 | | | 5,150,000 | | | $ | 0.55 | |
|
|
|
Warrant [Member]
|
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Summary of stock options granted |
|
| |
|
Number of
Warrants
|
|
|
Weighted Average
Exercise Price
|
|
|
Stock Warrants
|
|
|
|
|
|
|
|
Balance at December 31, 2009
|
|
|
750,000
|
|
|
|
|
|
|
Granted
|
|
|
-
|
|
|
|
|
|
|
Exercised
|
|
|
-
|
|
|
|
|
|
|
Expired
|
|
|
(750,000)
|
|
|
|
|
|
|
Balance at December 31, 2010
|
|
|
—
|
|
|
|
—
|
|
|
Granted
|
|
|
2,380,000
|
|
|
$
|
2.50
|
|
|
Exercised
|
|
|
(37,500
|
)
|
|
|
|
|
|
Expired
|
|
|
—
|
|
|
|
|
|
|
Balance at December 31, 2011
|
|
|
2,342,500
|
|
|
|
|
|
|
Warrants Exercisable at December 31, 2011
|
|
|
2,342,500
|
|
|
$
|
2.50
|
|
|
Weighted Average Fair Value of Warrants Granted During 2011
|
|
|
|
|
|
$
|
2.50
|
|
|