Quarterly report pursuant to Section 13 or 15(d)

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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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