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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)
4 Months Ended
Apr. 30, 2013
Stockholders Equity Deficiency Tables [Abstract]  
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

)


Warranty Activity

A summary of the Company's warrant activity during the four months ended April 30, 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

 

 

1,833,770

 

 

 

0.50

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Forfeited

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Balance Outstanding, April 30, 2013

 

 

9,090,292

 

 

$

0.46

 

 

 

4.4

 

 

$

32,349

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, April 30, 2013

 

 

9,090,292

 

 

$

0.46

 

 

 

4.4

 

 

$

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 four months ended April 30, 2013 and during the years ended December 31, 2012 and 2011:


                 

 

 

 

 

April 30,

 

December 31,

Assumptions

 

 

 

2013

 

2012

 

2011

Expected life (years)

 

 

 

3.5 - 3.75

 

2.5 - 3.8

 

N/A

Expected volatility

 

 

 

46.3%- 46.5%

 

44.2% - 50.9%

 

N/A

Weighted-average volatility

 

 

 

46.5%

 

49.0%

 

N/A

Risk-free interest rate

 

 

 

.36%-.44%

 

0.31% - 0.60%

 

N/A

Dividend yield

 

 

 

0.00%

 

0.00%

 

N/A

Expected forfeiture rate

 

 

 

3.9%

 

1.7%

 

N/A


Stock Options Activity to Employees

A summary of the Company's stock option activity for employees and directors during the four months ended April 30, 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

 

 

658,914

 

 

$

0.35

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(92,500

)

 

$

0.35

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, April 30, 2013

 

 

7,344,381

 

 

$

0.35

 

 

 

4.4

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, April 30, 2013

 

 

2,056,998

 

 

$

0.35

 

 

 

4.4

 

 

$

-

 


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 four month ended April 30, 2013 and for the years ended December 31, 2012 and 2011:



                   

 

 

 

 

April 30,

 

December 31,

 

Assumptions

 

 

 

2013

 

2012

 

2011

 

Expected life (years)

 

 

 

4

 

2.7 - 5.0

 

N/A

 

Expected volatility

 

 

 

46.5%

 

44.2% - 50.0%

 

N/A

 

Weighted-average volatility

 

 

 

46.5%

 

47.4%

 

N/A

 

Risk-free interest rate

 

 

 

.38%

 

0.37% - 0.60%

 

N/A

 

Dividend yield

 

 

 

0.00%

 

0.00%

 

N/A

 


Share based compensation stock options activity for non employees

A summary of the Company's stock option activity for non-employees during the four months ended April 30, 2013 is presented below:


                                 

 

 

 

 

 

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

 

 

75,000

 

 

$

0.35

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, April 30, 2013

 

 

270,000

 

 

$

0.35

 

 

 

4.0

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, April 30, 2013

 

 

-

 

 

 

N/A

 

 

 

N/A

 

 

 

N/A