Quarterly report pursuant to Section 13 or 15(d)

Stock-based Compensation Plans and Awards (Tables)

v2.4.0.8
Stock-based Compensation Plans and Awards (Tables)
 9 Months Ended
Sep. 30, 2014
Stock-based Compensation Plans and Awards [Abstract]  
Summary of Stock Option Activity

The following table summarizes information about the Company's stock outstanding at September 30, 2014, and activity during the nine-month period then ended:

 

 

                Weighted-        
                Average        
          Weighted-     Remaining     Aggregate  
    Stock     Average     Contractual     Intrinsic  
    Awards     Exercise Price     Life (Years)     Value  
Balance as of December 31, 2013     7,555,327     $ 0.45                  
Options granted     3,461,391     $ 1.35                  
Options exercised     (228,306 )   $ 0.31                  
Options forfeited     (749,901 )   $ 1.13                  
Options cancelled     (127,542 )   $ 0.47                  
Balance as of September 30, 2014     9,910,969     $ 0.72       7.45     $ 2,704,099  
Vested and expected to vest at September 30, 2014     9,276,442     $ 0.69       7.34     $ 2,645,583  
Exercisable as of  September 30, 2014     4,710,443     $ 0.41       5.87     $ 2,093,011  

 
Schedule of Fair Value Calculation Assumptions

The per-share fair value of each stock option was determined on the date of grant using the Black-Scholes option pricing model using the following assumptions:

 

 

Three Months Ended

  

Nine Months Ended

  
 

September 30,

  

September 30,

  
  2014   2013     2014     2013  
Expected life (in years)     -       9.87       6.08-10.0       5.0-6.0  
Risk-free interest rate     -       2.61 %     1.74-2.61 %     0.83-1.68 %
Expected volatility     -       66 %     65.66-66.46 %     68 %
Expected dividend yield     -       0 %     0 %     0 %

 
Allocation of Stock Option Compensation Expense

Total stock-based compensation expense related to options granted to employees and non-employees was included in the unaudited Condensed Consolidated Statements of Operations as follows:

 

 

 

Three Months Ended

Nine Months Ended

  
 

September 30,

September 30,

  
  2014 2013     2014     2013  
       
Stock-based compensation expenses:                                
Sales and marketing   $ 8,798     $ 29,855     $ 259,734     $ 80,421  
Research and development     36,143       20,909       126,039       55,990  
General and administrative     72,389       56,869       424,626       141,744  
    $ 117,330     $ 107,633     $ 810,399     $ 278,155