Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v2.4.1.9
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Restricted Stock Activity

A summary of restricted stock activity for the year ended December 31, 2014 is as follows:

 

Number of Shares

   

Unvested - December 31, 2013

  -    

Granted

  300,000    

Vested

  (99,999 )  

Forfeited or Canceled

    -    

Unvested – December 31, 2014

    200,001    
Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Award Activity

The following table summarizes the Company's stock option activity for the year ended December 31, 2014:

 

Number of Options

   

Weighted Average Exercise Price

   

Weighted Average Remaining Contractual Life (in Years)

   

Aggregate Intrinsic Value

 

Outstanding - December 31, 2013

  -     $ -       -     $ -  

Granted in compensatory arrangements

  187,000       3.45                  

Issued as Merger consideration

  183,000       3.45                  

Exercised

    -       -                  

Forfeited or Canceled

    (24,000 )     (3.45 )                

Outstanding – December 31, 2014

    346,000     $ 3.45       9.4     $ 491,320  
                                 

Exercisable – December 31, 2014

    183,000       3.45       9.5     $ 259,860  
Schedule of Unvested Award activity

A summary of the changes in the Company's unvested stock options is as follows:

 

Number of Options

   

Weighted Average Grant Date Fair Value

 

Unvested - December 31, 2013

  -     $ -  

Granted in compensatory arrangements

  187,000       1.65  

Issued as Merger consideration

  183,000       3.04  

Vested

    (183,000 )     (3.04 )

Forfeited or Canceled

    (24,000 )     1.65  

Unvested – December 31, 2014

    163,000     $ 1.65  
Stock Options [Member] | Certain directors, senior management and employees [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Award Fair Value Assumptions

Risk-free interest rate

    2.02 %  

Expected dividend yield

    0.00 %  

Expected volatility

    48.14 %  

Expected term

    6 years    
Stock Options [Member] | Mr. Proman [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Award Fair Value Assumptions

Risk-free interest rate

    1.82 %  

Expected dividend yield

    0.00 %  

Expected volatility

    41.5 %  

Expected term

    5 years    
Warrants [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Award Activity

A summary of warrant activity for the year ended December 31, 2014 is as follows:

 

Number of Warrants

   

Weighted Average Exercise Price

   

Weighted Average Remaining Contractual Life (in Years)

   

Aggregate Intrinsic Value

 

Outstanding - December 31, 2013

  131,250     $ 10.00       5.2     $ -  

Granted

  231,250       7.41                  

Exercised

  -       -                  

Forfeited or Canceled

    -       -                  

Outstanding – December 31, 2014

    362,500     $ 8.34       4.5     $ 87,000  
                                 

Exercisable – December 31, 2014

    131,250       10.00       4.2     $ -  
Schedule of Unvested Award activity

A summary of the changes in the Company's unvested warrants is as follows:

 

Number of Warrants

   

Weighted Average Grant Date Fair Value

 

Unvested - December 31, 2013

  -     $ -  

Granted

  231,250       1.87  

Vested

  (231,250 )     (1.87 )

Forfeited or Canceled

    -       -  

Unvested – December 31, 2014

    -     $ -  
Schedule of Award Fair Value Assumptions

Risk-free interest rate

    1.82 %  

Expected dividend yield

    0.00 %  

Expected volatility

    41.5 %  

Expected term

    5 years