Quarterly report pursuant to sections 13 or 15(d)

Equity Incentive Plan (Tables)

v2.4.0.8
Equity Incentive Plan (Tables)
 3 Months Ended
Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The assumptions used in the Black-Scholes model are as follows:
 
 
 
Three Months Ended
March 31, 2014
Risk-free interest rate
 
1.83 to 2.19%
Expected dividend yield
 
0%
Expected lives
 
5.31 to 6.25 years
Expected volatility
 
60%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the Company’s stock option activity and related information is as follows:
 
 
 
Stock Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Life
(in years)
 
Outstanding at December 31, 2013
 
485,573
 
$
4.240
 
8.2
 
Granted
 
305,126
 
$
6.911
 
 
 
Exercised
 
(10,500)
 
$
0.095
 
 
 
Forfeited/Expired/Exchanged
 
(3,360)
 
$
5.000
 
 
 
Outstanding at March 31, 2014
 
776,839
 
$
5.342
 
8.7
 
Exercisable at March 31, 2014
 
204,999
 
$
3.996
 
7.9