Quarterly report pursuant to Section 13 or 15(d)

13. Stock Based Compensation (Tables)

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13. Stock Based Compensation (Tables)
6 Months Ended
Jun. 30, 2014
Stock Based Compensation Tables  
Stock option activity

A summary of stock option activity for the quarter ended June 30, 2014 is presented below:

 

    Outstanding Options
   

Number of

Shares

   

Weighted

Average Exercise Price

    Weighted Average Remaining Contractual Life (years)    

Aggregate

Intrinsic

Value

 
December 31, 2013     385,458       10.83       5.2       -  
Grants     2,010,000       1.10       5.0       -  
Cancellations     -       -       -       -  
June 30, 2014     2,395,458       2.67       4.6       -  
                                 
Options exercisable at:                                
December 31, 2013     385,458       10.83       5.2          
June 30, 2014     2,395,458       2.67       4.6          
Common stock under the Equity Plan

On January 30, 2014, the Company granted the following nonqualified stock options to acquire an aggregate of 1,140,000 shares of the Company’s common stock under the Company’s Equity Plan:

 

Alan Kelley     500,000  
John Norris     150,000  
Rich Gross     100,000  
Marc Sylvester     250,000  
Jay Rifkin     105,000  
Chris Greenberg     35,000  
      1,140,000