Annual report pursuant to section 13 and 15(d)

Stock-based compensation (Tables)

v2.4.0.8
Stock-based compensation (Tables)
12 Months Ended
Dec. 31, 2013
Stock-based compensation [Abstract]  
Schedule of Assumptions Used to Estimate Fair Value of Stock Option Award Using Black-Scholes Valuation Model

The fair value of each option grant is estimated on the date of grant using the Black-Scholes model with the following weighted-average assumptions:

 

    Year Ended  
    December 31, 2013  
Expected life (in years)     6.5  
Risk-free interest rate     1.41 %
Volatility     32 %
Dividend yield     0 %
Summary of Stock Option Activity Under Stock Option and Incentive Plans

A summary of the status of stock option awards and changes during the year ended December 31, 2013 are presented below:

 

                Weighted        
          Weighted     Average        
          Average     Remaining        
          Exercise     Contractual      Intrinsic  
     Shares      Price      Life (Years)     Value  
                                 
Outstanding at December 31, 2012     -     $ -                  
Granted     766,578     $ 5.00                  
Exercised     -     $ -                  
Cancelled, expired, or forfeited     -     $ -                  
Outstanding at December 31, 2013     766,578     $ 5.00       9.80     $ 574,934  
Exercisable at December 31, 2013     31,923     $ 5.00       9.80     $ 23,942