Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation

v2.4.0.8
Stock Based Compensation
 6 Months Ended
Jun. 30, 2014
Stock Based Compensation [Abstract]  
Stock Based Compensation
(4)           Stock Based Compensation

For the three and six months ended June 30, 2014, we recognized stock-based compensation expense of $192,000 and $987,000, respectively. For the three and six months ended June 30, 2013 we recognized stock-based compensation expense of $251,000 and $328,000, respectively.

The following table summarizes stock-based compensation for the three and six months ended June 30, 2014 and 2013:

   
Three months ended
June 30,
    
Six months ended
June 30,
  
   
2014
    
2013
    
2014
    
2013
  
Research and development
   $ 18,000     $ 10,000     $ 95,000     $ 19,000  
Selling, general and administrative
     174,000       241,000       892,000       309,000  
            Stock-based compensation expense included in operating expense
  $ 192,000     $ 251,000     $ 987,000     $ 328,000  


For the three and six months ended June 30, 2014 we granted no stock options and 10,500,000 stock options, respectively. For the three and six months ended June 30, 2013 we granted no stock options, respectively.
 
Our weighted average Black-Scholes fair value assumptions used to value the grants in the first six months of 2014 are as follows:
 
       
   
6/30/14
  
Expected life(b)
 
5.5 yrs
  
Risk free interest rate
     1.65 %
Expected volatility(a)
    102 %
Expected dividend yield
     0.0 %
         
________________
(a)
Reflects movements in our stock price over the most recent historical period equivalent to the expected life.
(b)
Based on the simplified method.

For the three and six months ended June 30, 2014, stock valued at $132,000 and $207,000, respectively, was granted to consultants. For the three and six months ended June 30, 2013, stock valued at $123,000 and $167,000, respectively, was granted to employees and consultants.