|
Stockholders' equity (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
|
Tecogen
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Stock Option Activity |
Stock option activity for the year ended December 31, 2012 and 2011 was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock Options |
Number of
Options
|
|
Exercise
Price
Per
Share
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Life
|
|
Aggregate
Intrinsic
Value
|
Outstanding, December 31, 2010 |
2,480,000 |
|
|
$0.03-$0.50 |
|
|
$ |
0.32 |
|
|
3.30 years |
|
$ |
793,500 |
|
Granted |
2,046,000 |
|
|
0.65-0.70 |
|
|
0.65 |
|
|
|
|
|
|
Exercised |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Canceled and forfeited |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Repurchased |
(50,000 |
) |
|
0.25 |
|
|
0.25 |
|
|
|
|
|
Expired |
(95,000 |
) |
|
0.30-0.65 |
|
|
0.37 |
|
|
|
|
|
|
Outstanding, December 31, 2011 |
4,381,000 |
|
|
$0.03-$0.70 |
|
|
$ |
0.48 |
|
|
5.53 years |
|
$ |
1,387,150 |
|
Exercisable, December 31, 2011 |
1,673,750 |
|
|
|
|
|
$ |
0.31 |
|
|
|
|
$ |
815,125 |
|
Vested and expected to vest, December 31, 2011 |
4,381,000 |
|
|
|
|
|
$ |
0.48 |
|
|
|
|
$ |
1,387,150 |
|
|
|
|
|
|
|
|
|
|
|
Outstanding, December 31, 2011 |
4,381,000 |
|
|
$0.03-$0.70 |
|
|
$ |
0.48 |
|
|
5.53 years |
|
$ |
1,387,150 |
|
Granted |
70,000 |
|
|
0.80 |
|
|
0.80 |
|
|
|
|
|
|
Exercised |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Canceled and forfeited |
(63,750 |
) |
|
0.30-0.65 |
|
|
0.32 |
|
|
|
|
|
|
Expired |
(1,250 |
) |
|
0.65 |
|
|
0.65 |
|
|
|
|
|
|
Outstanding, December 31, 2012 |
4,386,000 |
|
|
$0.03-$0.80 |
|
|
$ |
0.49 |
|
|
4.66 years |
|
$ |
1,356,400 |
|
Exercisable, December 31, 2012 |
2,650,250 |
|
|
|
|
|
$ |
0.39 |
|
|
|
|
$ |
1,096,225 |
|
Vested and expected to vest, December 31, 2012 |
4,386,000 |
|
|
|
|
|
$ |
0.49 |
|
|
|
|
$ |
1,356,400 |
|
|
| Summary of Weighted Average Assumptions Used in Black-Scholes Option Pricing |
The weighted average assumptions used in the Black-Scholes option pricing model for options granted in 2012 and 2011 are as follows:
|
|
|
|
|
|
2012 |
|
2011 |
Stock option awards: |
|
|
|
Expected life |
6.25 years |
|
6.25 years |
Risk-free interest rate |
0.70% |
|
2.46% |
Expected volatility |
35.9%-36.0% |
|
33.8%-35.5% |
|
| Schedule of Restricted Stock Activity |
Restricted stock activity for the years ended December 31, 2012 and 2011 was as follows:
|
|
|
|
|
|
|
|
|
Number of
Restricted
Stock
|
|
Weighted
Average
Grant Date
Fair Value
|
Unvested, December 31, 2010 |
1,733,268 |
|
|
$ |
0.32 |
|
Granted |
200,000 |
|
|
0.65 |
|
Vested |
— |
|
|
— |
|
Forfeited |
— |
|
|
— |
|
Unvested, December 31, 2011 |
1,933,268 |
|
|
$ |
0.36 |
|
|
|
|
|
Unvested, December 31, 2011 |
1,933,268 |
|
|
$ |
0.36 |
|
Granted |
— |
|
|
— |
|
Vested |
— |
|
|
— |
|
Forfeited |
(336,988 |
) |
|
0.34 |
|
Unvested, December 31, 2012 |
1,596,280 |
|
|
$ |
0.36 |
|
|
|
Ilois
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Schedule of Stock Option Activity |
Stock option activity relating to Ilios for the year ended December 31, 2012 and 2011 was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock Options |
Number of
Options
|
|
Exercise
Price
Per
Share
|
|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Life
|
|
Aggregate
Intrinsic
Value
|
Outstanding, December 31, 2010 |
300,000 |
|
|
$ |
0.10 |
|
|
$ |
0.10 |
|
|
9.34 years |
|
$ |
120,000 |
|
Granted |
225,000 |
|
|
0.50 |
|
|
0.50 |
|
|
|
|
|
|
Exercised |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Canceled and forfeited |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Expired |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Outstanding, December 31, 2011 |
525,000 |
|
|
$0.10-$0.50 |
|
|
$ |
0.27 |
|
|
8.23 years |
|
$ |
120,000 |
|
Exercisable, December 31, 2011 |
— |
|
|
|
|
|
$ |
— |
|
|
|
|
$ |
— |
|
Vested and expected to vest, December 31, 2011 |
525,000 |
|
|
|
|
|
$ |
0.27 |
|
|
|
|
$ |
120,000 |
|
|
|
|
|
|
|
|
|
|
|
Outstanding, December 31, 2011 |
525,000 |
|
|
$0.10-$0.50 |
|
|
$ |
0.27 |
|
|
8.23 years |
|
$ |
120,000 |
|
Granted |
50,000 |
|
|
0.50 |
|
|
0.50 |
|
|
|
|
|
|
Exercised |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Canceled and forfeited |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Expired |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Outstanding, December 31, 2012 |
575,000 |
|
|
$0.10-$0.50 |
|
|
$ |
0.29 |
|
|
7.44 years |
|
$ |
120,000 |
|
Exercisable, December 31, 2012 |
— |
|
|
|
|
|
$ |
0.50 |
|
|
|
|
$ |
— |
|
Vested and expected to vest, December 31, 2012 |
575,000 |
|
|
|
|
|
$ |
0.29 |
|
|
|
|
$ |
120,000 |
|
|
| Summary of Weighted Average Assumptions Used in Black-Scholes Option Pricing |
For the Ilios awards, the weighted average assumptions used in the Black-Scholes option pricing model for options granted in 2012 and 2011 are as follows:
|
|
|
|
|
|
2012 |
|
2011 |
Stock option awards: |
|
|
|
Expected life |
6.25 years |
|
6.25 years |
Risk-free interest rate |
2.03% |
|
2.03% |
Expected volatility |
36.1% |
|
34.2% |
|
| Schedule of Restricted Stock Activity |
Restricted stock activity for the Ilios awards, for the years ended December 31, 2012 and 2011 was as follows:
|
|
|
|
|
|
|
|
|
Number of
Restricted
Stock
|
|
Weighted
Average
Grant Date
Fair Value
|
Unvested, December 31, 2010 |
360,000 |
|
|
$ |
0.10 |
|
Granted |
200,000 |
|
|
0.50 |
|
Vested |
— |
|
|
— |
|
Forfeited |
— |
|
|
— |
|
Unvested, December 31, 2011 |
560,000 |
|
|
$ |
0.24 |
|
|
|
|
|
Unvested, December 31, 2011 |
560,000 |
|
|
$ |
0.24 |
|
Granted |
— |
|
|
— |
|
Vested |
— |
|
|
— |
|
Forfeited |
(50,000 |
) |
|
0.10 |
|
Unvested, December 31, 2012 |
510,000 |
|
|
$ |
0.26 |
|
|