|
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
6 Months Ended |
|
Jun. 30, 2014
|
| Nature Of Business And Summary Of Significant Accounting Policies Tables |
|
| Summary of weighted average assumptions |
The fair value of each option grant on the
date of grant is estimated using the Black-Scholes option-pricing model utilizing the following weighted average assumptions:
| |
|
SIX MONTHS ENDED JUNE 30, |
|
| |
|
|
2014 |
|
|
|
2013 |
|
| Risk-free interest rates |
|
|
1.65 |
% |
|
|
0.78-1.24% |
|
| Expected option life in years |
|
|
5 years |
|
|
|
5 years |
|
| Expected stock price volatility |
|
|
42.65 |
% |
|
|
43.54%-44.31% |
|
| Expected dividend yield |
|
|
-0- |
|
|
|
-0- |
|
|
| Computations of basic and diluted weighted average common shares outstanding |
Computations of basic and diluted weighted
average common shares outstanding are as follows:
| |
|
Six Months Ended
June 30,
|
|
|
Three Months Ended
June 30,
|
|
| |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average common shares outstanding – basic |
|
|
25,629,473 |
|
|
|
25,098,074 |
|
|
|
25,484,978 |
|
|
|
25,181,736 |
|
| Dilutive effect of options and warrants |
|
|
2,059,677 |
|
|
|
2,298,340 |
|
|
|
2,011,254 |
|
|
|
1,905,325 |
|
| Weighted-average common shares outstanding – diluted |
|
|
27,689,150 |
|
|
|
27,396,414 |
|
|
|
27,496,232 |
|
|
|
27,087,061 |
|
| Options and Warrants excluded from the computation of diluted income (loss) per share because the effect of inclusion would have been anti-dilutive |
|
|
1,660,323 |
|
|
|
5,289,160 |
|
|
|
1,708,746 |
|
|
|
5,682,175 |
|
|
| Cash and cash equivalents |
Cash and cash equivalents as of June 30,
2014 and December 31, 2013 are composed of:
| |
|
June 30, 2014 |
|
|
December 31, 2013 |
|
| |
|
|
|
|
|
|
| Cash |
|
$ |
2,662,000 |
|
|
$ |
1,903,000 |
|
| Money market fund |
|
|
13,917,000 |
|
|
|
17,035,000 |
|
| Total |
|
$ |
16,579,000 |
|
|
$ |
18,938,000 |
|
|
| Investment In Lifestreams |
At June 30, 2014, the Company’s
investment in Lifestream consists of the following:
| |
|
Number of
Shares
|
|
|
Value
|
|
| Common Stock |
|
|
250,000 |
|
|
$ |
76,000 |
|
| Series A Preferred Stock |
|
|
123,456 |
|
|
|
50,000 |
|
| Warrants |
|
|
1,305,000 |
|
|
|
70,000 |
|
| Convertible Notes |
|
|
— |
|
|
|
190,000 |
|
| |
|
|
|
|
|
$ |
386,000 |
|
|