Annual reports filed by certain Canadian issuers pursuant to Section 15(d) and Rule 15d-4

Shareholders' equity and capital stock (Tables)

v2.4.0.6
Shareholders' equity and capital stock (Tables)
12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
Schedule Of Share-Based Compensation, Warrants, Activity [Table Text Block]

Activity with respect to warrants is summarized as follows: 

          Weighted-  
          average  
    Warrants     exercise price  
    #     $  
Outstanding, December 31, 2009     -       -  
Granted     100,000       1.20  
                 
Outstanding, December 31, 2010     100,000       1.20  
                 
Outstanding, December 31, 2011     100,000       1.20  
Granted     50,000       0.99  
                 
Outstanding, December 31, 2012     150,000       1.13
Schedule Of Share-based Compensation Shares Authorized Under Warrants Plans by exercise price range [Table Text Block]

As of December 31, 2012, outstanding warrants are as follows:

 

            Weighted-              
            average     Aggregate        
Exercise           remaining     Intrinsic        
price     Number     contractual     Value        
$     of warrants     life (years)     $     Expiry  
                                     
  0.99       50,000       2.7             September 4, 2015  
  1.20       100,000       2.8       -       November 1, 2015  
                                     
          150,000       2.8       -          
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Activity with respect to stock options is summarized as follows: 

          Weighted-  
          average  
    Options     exercise price  
    #     $  
Outstanding, December 31, 2009     8,361,452       1.65  
Granted     798,537       0.81  
Exercised     (3,057,444 )     1.15  
Forfeited     (75,470 )     0.84  
Expired     (361,507 )     2.06  
                 
Outstanding, December 31, 2010     5,665,568       1.79  
Granted     3,162,098       2.05  
Exercised     (1,677,432 )     2.00  
Forfeited     (241,332 )     2.11  
Expired     (495,000 )     2.59  
                 
Outstanding, December 31, 2011     6,413,902       1.79  
Granted     3,114,207       0.87  
Exercised     (88,473 )     0.85  
Forfeited     (145,414 )     1.99  
Expired     (782,500 )     3.25  
                 
Outstanding, December 31, 2012     8,511,722       1.32
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

As of December 31, 2012, outstanding stock options are as follows:

 

      Options outstanding     Options exercisable      
            Weighted-                 Weighted-            
            average     Aggregate           average     Aggregate      
Exercise           remaining     Intrinsic           remaining     Intrinsic      
price     Number     contractual     Value     Number     contractual     Value      
$     of options     life (years)     $     of options     life (years)     $     Expiry
                                           
  1.65       680,000       0.4       -       680,000       0.4       -     May 8, 2013
  1.72       25,000       0.6       -       25,000       0.6       -     August 6, 2013
  0.71       437,268       1.1       52,472       437,268       1.1       52,472     February 9, 2014
  0.90       813,028       1.7       -       813,028       1.7       -     September 2, 2014
  0.81       554,074       2.2       11,081       554,074       2.2       11,081     March 5, 2015
  2.87       1,318,293       3.1       -       1,318,293       3.1       -     January 28, 2016
  1.57       645,000       3.5       -       490,200       3.5       -     July 7, 2016
  1.17       784,109       3.7       -       595,923       3.7       -     September 9, 2016
  1.16       200,000       3.8       -       152,000       3.8       -     October 24, 2016
  0.91       1,136,368       4.0       -       605,324       4.0       -     January 12, 2017
  1.39       200,000       4.1       -       108,000       4.1       -     February 1, 2017
  1.18       100,000       4.2       -       54,000       4.2       -     March 1, 2017
  0.76       1,618,582       4.9               161,862       4.9       11,330     December 7, 2017
                                                         
  1.32       8,511,722       3.2       63,553       5,994,972       2.6       74,883    
 

 

Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

Activity with respect to RSUs is summarized as follows: 

          Weighted  
          average grant  
    RSU     date fair value  
    #     $  
Unvested, December 31, 2010     -       -  
Granted     355,662       2.87  
Vested     -       -  
Forfeited     (79,297 )     2.87  
                 
Unvested, December 31, 2011     276,365       2.87  
Granted     703,572       0.91  
Vested     (136,789 )     2.87  
Forfeited     (16,723 )     1.66  
                 
Unvested, December 31, 2012     826,425       1.53
Schedule Of Share-Based Compensation, Shares Authorized Under Restricted Stock Units, By Grant Date [Table Text Block]

As of December 31, 2012, outstanding RSUs are as follows:

 

          Weighted-        
          average     Aggregate  
    Number of     remaining     Intrinsic  
    unvested     amortization     Value  
Grant date   options     life (years)     $  
January 28, 2011     133,147       0.08       110,512  
January 12, 2012     288,618       1.03       239,553  
December 7, 2012     404,660       1.93       335,868  
                         
      826,425       1.32       685,933
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
      The following assumptions were used in performing the valuations:

 

    2012   2011   2010
             
Expected warrant life (years)   1.50   0   2.75
Expected option life (years)   3.29 - 3.37   3.24 - 3.28   3.12 - 3.14
Expected volatility   63-78%   79-82%   81-82%
Risk-free interest rate   1.0-1.3%   1.3-1.9%   1.7-1.9%
Forfeiture rate (warrants)   0.0%   0.0%   0.0%
Forfeiture rate (options)   4.6-4.8%   4.4-5.1%   4.3%
Forfeiture rate (RSUs)   12.5-22.3%   5.0%   5.0%
Expected dividend rate   0%   0%   0%