Annual report pursuant to Section 13 and 15(d)

Shareholders' Equity and Capital Stock (Tables)

v2.4.0.8
Shareholders' Equity and Capital Stock (Tables)
12 Months Ended
Dec. 31, 2013
Stockholders' Equity Note [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity
Activity with respect to stock options is summarized as follows:
 
 
 
 
 
 
Weighted-
 
 
 
 
 
average
 
 
 
Options
 
exercise price
 
 
 
#
 
$
Outstanding, December 31, 2010
 
 
5,665,568
 
1.79
Granted
 
 
3,162,098
 
2.07
Exercised
 
 
(1,677,432)
 
2.02
Forfeited
 
 
(241,332)
 
2.14
Expired
 
 
(495,000)
 
2.59
Outstanding, December 31, 2011
 
 
6,413,902
 
1.75
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
Granted
 
 
1,876,670
 
1.07
Exercised
 
 
(377,927)
 
0.79
Forfeited
 
 
(31,806)
 
0.78
Expired
 
 
(705,000)
 
1.69
Outstanding, December 31, 2013
 
 
9,273,659
 
1.19
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range
As of December 31, 2013, 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
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
0.66
 
145,909
 
0.1
 
101
 
145,909
 
0.1
 
101
 
February 9, 2014
0.84
 
776,257
 
0.7
 
396
 
776,257
 
0.7
 
396
 
September 2, 2014
0.76
 
554,074
 
1.2
 
327
 
554,074
 
1.2
 
327
 
March 5, 2015
2.68
 
1,318,293
 
2.1
 
-
 
1,318,293
 
2.1
 
-
 
January 28, 2016
1.47
 
645,000
 
2.5
 
-
 
645,000
 
2.5
 
-
 
July 7, 2016
1.09
 
759,809
 
2.7
 
198
 
759,809
 
2.7
 
198
 
September 9, 2016
1.08
 
200,000
 
2.8
 
54
 
200,000
 
2.8
 
54
 
October 24, 2016
0.85
 
1,110,871
 
3.0
 
555
 
1,110,871
 
3.0
 
555
 
January 12, 2017
1.30
 
200,000
 
3.1
 
10
 
200,000
 
3.1
 
10
 
February 1, 2017
1.10
 
100,000
 
3.2
 
25
 
100,000
 
3.2
 
25
 
March 1, 2017
0.71
 
1,594,312
 
3.9
 
1,020
 
860,928
 
3.9
 
551
 
December 7, 2017
0.72
 
673,791
 
4.3
 
424
 
215,613
 
4.3
 
136
 
April 25, 2018
1.16
 
100,000
 
4.6
 
19
 
32,000
 
4.6
 
6
 
August 1, 2018
1.12
 
1,095,343
 
5.0
 
252
 
109,537
 
5.0
 
25
 
December 27, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.19
 
9,273,659
 
3.0
 
3,381
 
7,028,291
 
2.5
 
2,384
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
Activity with respect to RSUs is summarized as follows:
 
 
 
 
 
Weighted
 
 
 
 
 
average grant
 
 
 
RSUs
 
date fair
value
 
 
 
#
 
$
 
Unvested, December 31, 2010
 
-
 
-
 
Granted
 
355,662
 
2.90
 
Forfeited
 
(79,297)
 
2.90
 
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
 
1.15
 
Granted
 
273,834
 
1.23
 
Vested
 
(402,581)
 
1.89
 
Forfeited
 
(6,068)
 
0.78
 
Unvested, December 31, 2013
 
691,610
 
0.96
Schedule Of Share-Based Compensation, Shares Authorized Under Restricted Stock Units, By Grant Date
As of December 31, 2013, outstanding RSUs are as follows: 
 
 
 
 
 
Weighted-
 
 
 
 
 
 
 
average
 
Aggregate
 
 
 
Number of
 
remaining
 
Intrinsic
 
 
 
unvested
 
amortization
 
Value
 
Grant date
 
options
 
life (years)
 
$
 
January 12, 2012
 
144,309
 
0.12
 
195
 
December 7, 2012
 
273,467
 
1.02
 
369
 
December 27, 2013
 
273,834
 
2.07
 
370
 
 
 
 
 
 
 
 
 
 
 
691,610
 
1.25
 
934
Schedule Of Share-Based Compensation, Warrants, Activity
Activity with respect to warrants is summarized as follows:
 
 
 
 
 
 
Weighted-
 
 
 
 
 
average
 
 
 
Warrants
 
exercise price
 
 
 
#
 
$
Outstanding, December 31, 2010
 
 
100,000
 
1.12
 
 
 
 
 
 
Outstanding, December 31, 2011
 
 
100,000
 
1.12
Granted
 
 
50,000
 
0.93
 
 
 
 
 
 
Outstanding, December 31, 2012
 
 
150,000
 
1.06
Granted
 
 
9,774,512
 
1.19
Cancelled
 
 
(1,550,400)
 
1.17
 
 
 
 
 
 
Outstanding, December 31, 2013
 
 
8,374,112
 
1.19
Schedule Of Share-based Compensation Shares Authorized Under Warrants Plans by exercise price range
As of December 31, 2013, outstanding warrants are as follows:
 
 
 
 
 
 
 
Aggregate
 
 
 
Exercise
 
 
 
Remaining
 
Intrinsic
 
 
 
price
 
Number
 
contractual
 
Value
 
 
 
$
 
of warrants
 
life (years)
 
$
 
Expiry
 
 
 
 
 
 
 
 
 
 
 
0.92
 
50,000
 
1.7
 
21,500
 
September 4, 2015
 
1.12
 
100,000
 
1.8
 
23,000
 
November 1, 2015
 
0.93
 
25,000
 
2.2
 
10,500
 
March 5, 2016
 
1.35
 
2,354,545
 
3.0
 
-
 
December 19, 2016
 
1.12
 
4,294,167
 
4.5
 
987,658
 
June 24, 2018
 
1.17
 
1,550,400
 
4.7
 
279,072
 
August 27, 2018
 
 
 
 
 
 
 
 
 
 
 
 
 
8,374,112
 
4.7
 
1,321,730
 
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The initial fair value of RSUs, options and warrants granted during the years ended December 31, 2013, 2012 and 2011 was determined using the Black-Scholes option pricing model with the following assumptions:
 
 
 
2013
 
2012
 
2011
 
 
 
 
 
 
 
 
 
Expected warrant life (years)
 
0.16 - 3
 
1.5
 
-
 
Expected option life (years)
 
3.41-3.51
 
3.29-3.37
 
3.24-3.28
 
Expected volatility
 
61-66%
 
63-78%
 
79-82%
 
Risk-free interest rate
 
0.9-1.4%
 
1.0-1.3%
 
1.3-1.9%
 
Forfeiture rate (warrants)
 
0.0%
 
0.0%
 
0.0%
 
Forfeiture rate (options)
 
4.2-4.4%
 
4.6-4.8%
 
4.4-5.1%
 
Forfeiture rate (RSUs)
 
7.7%
 
12.5-22.3%
 
5.0%
 
Expected dividend rate
 
0%
 
0%
 
0%