Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v2.4.0.8
Stock Based Compensation (Tables)
3 Months Ended
Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes the stock option activity for the three months ended September 30, 2013:
 
Number of
Shares
 
WAEPS (1)
Fiscal year opening balance
7,788,957

 
$1.33
Granted

 
$0.00
September 30, 2013
7,788,957

 
$1.33
 
 
 
 
Weighted average remaining contractual term
5.6

years
(1) Weighted average exercise price per share
Fair Value of Shares Issued Under the Stock Plan and Weighted-Average Assumptions
The fair value of shares issued under the 2012 Stock Incentive Plan was estimated using the following weighted-average assumptions for the three months ended:
 
September 30,
 
2013
 
2012
Number of options
 
925,000
Weighted average grant date fair value per share
$0.00
 
$1.31
Expected dividend
0
 
0
Forfeiture rate
0
 
0
Risk free interest rate
%
-
—%
 
0.6
%
-
0.8%
Expected life (years)
0.00

-
0.00
 
5.13

-
6.00
Expected volatility (based on historical price)
%
-
—%
 
60.7
%
-
63.5%