Quarterly report pursuant to sections 13 or 15(d)

STOCK WARRANTS (Tables)

v2.4.0.6
STOCK WARRANTS (Tables)
3 Months Ended
Mar. 31, 2013
Warrants and Rights Note Disclosure [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following table summarizes information with respect to outstanding warrants to purchase common stock of the Company at March 31, 2013: 

 

Exercise     Number     Number     Expiration
Price     Outstanding     Vested     Date
$ 8.00       445,209       445,209     December 2013
  12.00       456,008       447,908     December 2017 to January 2018
  20.00       15,288       15,288     January 2014 to January 2015
  25.00       354,227       354,227     January 2017 to March 2019
          1,270,732       1,262,632      
Schedule Of Share Based Payment Award Stock Warrants Valuation Assumptions [Table Text Block]

The assumptions used in the valuation of warrants, which vested during the three months ended March 31, 2013, were as follows:

 

Risk-free interest rate     0.77 %
Life of warrant     5 years  
Expected stock price volatility     102.46 %
Expected dividend yield   $ 0.0