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Stockholders' Equity (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Components of Common Stock Outstanding |
The following table summarizes information about the Company's issued and outstanding common stock from Inception through December 31, 2013: | | | Shares of common stock | | | Balance as of June 8, 2011 (Inception) | | — | | | Grant of shares at less than fair value to officers, directors and consultants | | 8,768,014 | | | Issuance of shares of common stock | | 8,204,963 | | | Balance as of December 31, 2011 | | 16,972,977 | | | Conversion of Series A Preferred Convertible Preferred stock, classified as mezzanine equity | | 890,192 | | | Grant of shares to consultants | | 265,000 | | | Legal Parent’s shares of common stock, recorded upon Merger | | 15,206,118 | | | Exercise of 250,000 warrants, issued and exercised prior to the Merger | | 754,400 | | | Post-Merger exercise of warrants | | 6,832,150 | | | Exercise of stock options and vesting of RSUs | | 726,346 | | | Conversion of Series A Preferred Convertible Preferred stock, classified as equity | | 20,136,445 | | | Issuance of shares of common stock in connection with $31,148 received in a private financing round, net of issuance cost of $52 | | 9,600,000 | | | Issuance of shares of common stock in connection with $44,962 received in a private financing round, net of issuance cost of $39 | | 10,344,998 | | | Shares issued for acquisition of patents, refer to Note 5 | | 160,600 | | | Balance as of December 31, 2012 | | 81,889,226 | | | Exercise of warrants | | 435,783 | | | Exercise of stock options and vesting of RSUs | | 2,177,644 | | | Balance as of December 31, 2013 | | 84,502,653 | |
| Stock Options and Restricted Stock Units Activity |
The following tables summarize information about stock options and RSU activity for the year ended December 31, 2013: | | | RSUs | | Options | | | | | No. of
RSUs | | Weighted average
grant date fair
value | | No. of
options | | Weighted average
exercise price | | Exercise price
range | | Weighted average
grant date fair
value | | | Outstanding at January 1, 2013 | | 3,125,000 | | $ | 3.72 | | 9,149,105 | | $ | 3.33 | | | $0.01 – $5.50 | | $ | 2.57 | | | Granted | | 722,250 | | $ | 3.15 | | 3,498,333 | | $ | 3.12 | | | $2.77 – $3.30 | | $ | 2.16 | | | Vested/Exercised | | (1,452,721) | | $ | 3.60 | | (724,923) | | $ | 1.34 | | | $0.01 – $3.18 | | $ | 2.97 | | | Expired | | — | | | — | | (982,534) | | $ | 5.02 | | | $0.01 – $5.50 | | $ | 1.59 | | | Forfeited | | (233,126) | | $ | 3.71 | | (482,822) | | $ | 3.51 | | | $0.01 – $5.50 | | $ | 2.44 | | | Outstanding at December 31, 2013 | | 2,161,403 | | $ | 3.61 | | 10,457,159 | | $ | 3.23 | | | $0.01 – $5.50 | | $ | 2.50 | | | Exercisable at December 31, 2013 | | — | | | — | | 5,863,479 | | $ | 3.09 | | | $0.01 – $5.50 | | | | | |
| Nonvested Restricted Stock Units Activity |
| | | Non vested options: | | Non vested RSUs: | | | | | No. of options | | Weighted average
grant date fair
value | | No. of RSUs | | Weighted average
grant date fair
value | | | Balance at January 1, 2013 | | 4,902,989 | | $ | 2.50 | | 3,125,000 | | $ | 3.72 | | | Granted | | 3,498,333 | | $ | 2.16 | | 722,250 | | $ | 3.15 | | | Vested | | (3,324,820) | | $ | 2.35 | | (1,452,721) | | $ | 3.60 | | | Forfeited | | (482,822) | | $ | 2.44 | | (233,126) | | $ | 3.71 | | | Balance at December 31, 2013 | | 4,593,680 | | $ | 2.36 | | 2,161,403 | | $ | 3.61 | | |
| Employee and Non-Employee Stock Options |
The following table summarizes information about employee and non-employee stock options outstanding as of December 31, 2013: | Exercise price | | No. options outstanding | | No. options exercisable | | Weighted average remaining
contractual life (years) | | | $ | 0.01-1.00 | | 381,679 | | 381,679 | | 3.72 | | | $ | 1.01-2.00 | | 1,262,232 | | 1,220,566 | | 4.19 | | | $ | 2.01-3.00 | | 655,000 | | 161,250 | | 8.53 | | | $ | 3.01-4.00 | | 7,749,582 | | 3,691,317 | | 8.67 | | | $ | 4.01-5.00 | | 11,166 | | 11,167 | | 0.22 | | | $ | 5.04-6.00 | | 397,500 | | 397,500 | | 2.56 | | | | | | 10,457,159 | | 5,863,479 | | | | |
| Stockholders' Equity Note, Warrants or Rights |
(d) Warrants The following table summarizes information about warrant activity for the year ended December 31, 2013: | | | No. of warrants | | Weighted average
exercise price | | Exercise
price range | | | Outstanding at January 1, 2013 | | 18,863,261 | | $ | 3.11 | | | $0.94 – $5.06 | | | Exercised during the year | | (435,783) | | $ | 1.36 | | | $0.94 – $1.76 | | | Outstanding at December 31, 2013 | | 18,427,478 | | $ | 3.15 | | | $0.94 – $5.06 | | |
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Stock Option [Member]
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Options Granted |
The following table illustrates the common stock options granted during the year ended December 31, 2013: | Title | | Grant date | | No. of
options | | Exercise
price | | FMV at
grant date | | Vesting terms | | Assumptions used in Black-Scholes option
pricing model | | | Management, Directors and Employees * | | January-December 2013 | | 3,365,833 | | $2.77-$3.24 | | $2.77-$3.24 | | Over 0.67-3 years | | Volatility
Risk free interest rate
Expected term,
in years
Dividend yield | | 59.26%-70.51%
0.85%-2.06%
5.71-10.00
0.00% | | | Consultant | | January-June 2013 | | 132,500 | | $2.90-$3.30 | | $2.90-$3.30 | | Over 0-2.5 years | | Volatility
Risk free interest rate
Remaining expected term, in years
Dividend yield | | 61.80%-63.87%
2.16%-2.95%
9-9.50
0.00% | | | * | Certain options granted to officers, directors and certain key employees are subject to acceleration of vesting of 75% - 100% (according to the agreement signed with each grantee), upon a subsequent change of control. | |
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Restricted Stock Units (RSUs) [Member] | Stock Option [Member]
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of Options Granted |
The following table illustrates the RSUs granted during the year ended December 31, 2013: | Title | | Grant date | | No. of RSUs | | Exercise price | | | Share price at grant date | | Vesting terms | | | Management, directors and
employees | | February-May
2013 | | 656,250 | | — | | | $2.95-$3.18 | | Over 0.67-3 years | | | Consultants | | January-October
2013 | | 66,000 | | — | | | $2.96-$3.26 | | Over 0.75-1.20 years | | |