• Filing Date: 2013-03-14
  • Form Type: 10-K
  • Description: Annual report
v2.4.0.6
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2012
Stockholders' Equity [Abstract]  
Summary of the warrants outstanding
                 
    Number Of
Warrants
Outstanding
    Number of Common
Shares Issuable Upon
Conversion of
Warrants Outstanding
 
     

Warrants issued with IPO units

    1,666,668       833,334  

Warrants issued to the Company’s placement agents net of forfeitures and repurchases

    72,000       72,000  
   

 

 

   

 

 

 

Warrants outstanding at December 31, 2009

    1,738,668       905,334  

Placement agent warrants repurchased by the Company at a price of $1.20 per warrant in January 2010

    (333     (333
   

 

 

   

 

 

 

Warrants outstanding at December 31, 2010

    1,738,335       905,001  

Warrants issued in 2011*

    1,000,000       500,000  
   

 

 

   

 

 

 

Warrants outstanding at December 31, 2011

    2,738,335       1,405,001  

Exercise of warrants issued with IPO units

    (1,608,528     (804,260

Exercise of warrants issued in 2011

    (1,000,000     (500,000

Adjustment for fractional shares

    —         (4

Forfeiture of placement agent warrants

    (5,000     (5,000

Cashless exercise of placement agent warrants

    (66,667     (66,667

Cancellation of warrants issued with IPO units

    (58,140     (29,070
   

 

 

   

 

 

 

Warrants outstanding at December 31, 2012

    —         —    
   

 

 

   

 

 

 

 

* In connection with the HomeWise assumption transaction in November 2011, the Company issued 1,000,000 warrants, which were exercisable to purchase 500,000 shares of the Company’s common stock at a per share exercise price of $9.10.
Estimated assumptions of fair value warrants issued
         

Expected dividend yield

    5.0

Expected volatility

    52

Risk-free interest rate

    0.23

Expected life (in years)

    1.75  

Per share grant date fair value of warrants issued

  $ 0.754