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Post-effective amendment to a registration statement that is not immediately effective upon filing

Stockholders' Equity (Deficiency) (Tables)

v2.4.0.8
Stockholders' Equity (Deficiency) (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2013
Dec. 31, 2012
Stockholders Equity Deficiency Tables    
Assets and Liabilities acquired

The assets acquired and liabilities assumed from the publicly-held company were as follows:


         

Cash and cash equivalents

 

$

337

 

Liabilities assumed

 

 

(21,206

)

Net

 

$

(20,869

)


The assets acquired and liabilities assumed from the publicly-held company were as follows:


         

Cash and cash equivalents

 

$

337

 

Liabilities assumed

 

 

(21,206

)

Net

 

$

(20,869

)


Warranty Activity

A summary of the Company's warrant activity during the three months ended March 31, 2013 is presented below:


                                 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Warrants

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance Outstanding, December 31, 2012

 

 

7,256,522

 

 

$

0.45

 

 

 

 

 

 

 

Granted

 

 

807,143

 

 

 

0.50

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Forfeited

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Balance Outstanding, March 31, 2013

 

 

8,063,665

 

 

$

0.46

 

 

 

4.3

 

 

$

32,349

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, March 31, 2013

 

 

8,063,665

 

 

$

0.46

 

 

 

4.3

 

 

$

32,349

 

A summary of the Company's warrant activity during the year ended December 31, 2012 is presented below:


                                 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Warrants

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, December 31, 2011

 

  

456,000

 

 

$

0.33

 

 

 

 

 

 

 

Granted

 

 

6,950,522

 

 

 

0.46

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Forfeited

 

 

(150,000

)

 

 

0.50

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Balance Outstanding, December 31, 2012

 

 

7,256,522

 

 

$

0.45

 

 

  

4.5

 

 

$

32,349

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, December 31, 2012

 

 

7,256,522

 

 

$

0.45

 

 

 

4.5

 

 

$

32,349

 


Compensation Expense for Stock Options Granted

The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the three months ended March 31, 2013 and 2012:


                 

 

 

For the Three Months Ended

 

 

 

March 31,

 

Assumptions

 

2013

 

 

2012

 

Expected life (years)

 

 

3.5 - 3.75

 

 

 

3.5

 

Expected volatility

 

 

46.3% - 46.5

%

 

 

44.2

%

Weighted-average volatility

 

 

46.5

%

 

 

44.2

%

Risk-free interest rate

 

 

0.36% - 0.44

%

 

 

0.56% - 0.60

%

Dividend yield

 

 

0.00

%

 

 

0.00

%

Expected forfeiture rate

 

 

3.9

%

 

 

2.0

%

The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the years ended December 31, 2012 and 2011:


                 

 

 

For the Year Ended

 

 

 

December 31,

 

Assumptions

 

2012

 

 

2011

 

 

 

 

 

 

 

 

Expected life (years)

 

 

2.5 - 3.8

 

 

 

N/A

 

Expected volatility

 

 

44.2% - 50.9

%

 

 

N/A

 

Weighted-average volatility

 

 

49.0

%

 

 

N/A

 

Risk-free interest rate

 

 

0.31% - 0.60

%

 

 

N/A

 

Dividend yield

 

 

0.00

%

 

 

N/A

 

Expected forfeiture rate

 

 

1.7

%

 

 

N/A

 


Stock Options Activity to Employees

A summary of the Company's stock option activity for employees and directors during the three months ended March 31, 2013 is presented below:


                                 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Options

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance Outstanding, December 31, 2012

 

 

6,777,967

 

 

$

0.35

 

 

 

 

 

 

 

Granted

 

 

473,200

 

 

$

0.35

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(92,500

)

 

$

0.35

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, March 31, 2013

 

 

7,158,667

 

 

$

0.35

 

 

 

4.4

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, March 31, 2013

 

 

2,056,998

 

 

$

0.35

 

 

 

4.4

 

 

$

-

 


A summary of the Company's stock option activity for employees and directors during the year ended December 31, 2012 is presented below:


                                 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Options

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

 

  

 

 

 

 

 

 

 

 

 

 

  

Balance Outstanding, December 31, 2011

 

  

-

 

 

 

 

 

 

 

 

 

 

Granted

 

 

8,672,967

 

 

$

0.49

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(1,895,000

)

 

$

1.00

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, December 31, 2012

 

 

6,777,967

 

 

$

0.35

 

 

  

4.7

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, December 31, 2012

 

 

1,457,832

 

 

$

0.35

 

 

 

4.8

 

 

$

-

 


Stock Options Grants to Non-Employees

The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to non-employees during the three months ended March 31, 2013 and 2012:


                 

 

 

For the Three Months Ended

 

 

 

March 31,

 

Assumptions

 

2013

 

 

2012

 

Expected life (years)

 

 

N/A

 

 

 

3.5

 

Expected volatility

 

 

N/A

 

 

 

44.2

%

Weighted-average volatility

 

 

N/A

 

 

 

44.2

%

Risk-free interest rate

 

 

N/A

 

 

 

0.60

%

Dividend yield

 

 

N/A

 

 

 

0.00

%


The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to non-employees during the years ended December 31, 2012 and 2011:


                 

 

 

For the Year Ended

 

 

 

December 31,

 

Assumptions

 

2012

 

 

2011

 

 

 

 

 

 

 

  

Expected life (years)

 

  

2.7 - 5.0

 

 

  

N/A

 

Expected volatility

 

 

44.2% - 50.0

%

 

 

N/A

 

Weighted-average volatility

 

 

47.4

%

 

 

N/A

 

Risk-free interest rate

 

 

0.37% - 0.60

%

 

 

N/A

 

Dividend yield

 

 

0.00

%

 

 

N/A

 


Stock option activity for non employees

A summary of the Company's stock option activity for non-employees during the three months ended March 31, 2013 is presented below:


                                 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Options

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance Outstanding, December 31, 2012

 

 

195,000

 

 

$

0.35

 

 

 

 

 

 

 

Granted

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, March 31, 2013

 

 

195,000

 

 

$

0.35

 

 

 

4.0

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, March 31, 2013

 

 

58,333

 

 

$

0.35

 

 

 

4.0

 

 

$

-

 


A summary of the Company's stock option activity for non-employees during the year ended December 31, 2012 is presented below:


                                 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Options

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

 

  

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, December 31, 2011

 

  

-

 

 

 

 

 

 

 

 

 

 

Granted

 

 

390,000

 

 

$

0.65

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(195,000

)

 

$

0.95

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, December 31, 2012

 

 

195,000

 

 

$

0.35

 

 

  

4.5

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, December 31, 2012

 

 

-

 

 

 

N/A

 

 

 

N/A

 

 

 

N/A