Stockholders' Equity (Deficiency) (Tables)
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4 Months Ended |
Apr. 30, 2013
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Stockholders Equity Deficiency Tables [Abstract] |
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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 | ) |
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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 | |
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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 |
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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 | | | $ | - | |
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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:
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| | | | 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 | |
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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 | |
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