General form of registration statement for all companies including face-amount certificate companies

SHARE BASED COMPENSATION (Tables)

v2.4.0.6
SHARE BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2012
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
Following is a summary of activity for the year ended December 31, 2011, with respect to restricted stock granted under the 2010 Plan:

 

 

 

 

 

 

Weighted

 

 

 

Number of

 

 

Average

 

 

 

Restricted

 

 

Grant-Date

 

Nonvested Restricted Stock

 

Shares

 

 

Fair Value

 

Nonvested at December 31, 2010

 

 

1,697,847

 

 

$

0.23

 

Granted

 

 

368,718

 

 

$

0.23

 

Vested prior to Share Exchange

 

 

(564,858

)

 

$

0.23

 

Vested pursuant to Share Exchange

 

 

(1,396,982

)

 

$

0.23

 

Forfeited

 

 

(104,725

)

 

$

0.23

 

Nonvested at December 31, 2011

 

 

0

 

 

$

0

 

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The assumptions used in the valuation of stock options granted during the year ended December 31, 2012 were as follows:

 

Risk-free interest rate     1.87 %
Expected term of option     6.5 years  
Expected stock price volatility     95.89 %
Expected dividend yield   $ 0.0
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of the stock options activity and related information for the2012Incentive Stock Option Plan for the years ended December31,2012is as follows:

 

 

 

Shares

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining
Contractual Term

 

 

Aggregate Intrinsic
Value

 

Outstanding at January1,2012

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Grants

 

 

3,500,000

 

 

$

1.50

 

 

 

10.00

 

 

$

-

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeitures or expirations

 

 

(500,000

)

 

 

1.50

 

 

 

 

 

 

 

 

 

Outstanding at December31,2012

 

 

3,000,000

 

 

$

1.50

 

 

 

9.35

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at December31,2012

 

 

3,000,000

 

 

$

1.50

 

 

 

9.35

 

 

$

-

 

Exercisable at December31,2012

 

 

-

 

 

$

-

 

 

 

-

 

 

$

-