|
Stockholders' equity (Tables)
|
12 Months Ended |
|
Dec. 31, 2014
|
| 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, 2014 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, 2013 |
1,148,000 |
|
|
$1.20-$4.50 |
|
|
$ |
2.13 |
|
|
5.80 years |
|
$ |
2,721,100 |
|
Granted |
318,325 |
|
|
$4.50-$5.39 |
|
4.85 |
|
|
|
|
|
|
Exercised |
(101,575 |
) |
|
$1.20-$2.60 |
|
|
1.59 |
|
|
|
|
|
|
Canceled and forfeited |
(8,425 |
) |
|
$0.12-$4.50 |
|
|
3.52 |
|
|
|
|
|
|
Expired |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Outstanding, December 31, 2014 |
1,356,325 |
|
|
$1.20-$5.39 |
|
|
$ |
2.77 |
|
|
5.12 years |
|
$ |
3,618,935 |
|
Exercisable, December 31, 2014 |
863,552 |
|
|
|
|
|
$ |
2.65 |
|
|
|
|
$ |
2,287,760 |
|
Vested and expected to vest, December 31, 2014 |
1,356,325 |
|
|
|
|
|
$ |
2.77 |
|
|
|
|
$ |
3,618,935 |
|
|
| 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 2014 and 2013 are as follows:
|
|
|
|
|
Stock option awards: |
2014 |
|
2013 |
Expected life |
6.25 years |
|
5.63 years |
Risk-free interest rate |
1.51% |
|
1.34% |
Expected volatility |
22.7%-32.3% |
|
26.5%-36.1% |
|
| Schedule of Restricted Stock Activity |
Restricted stock activity for the years ended December 31, 2014 was as follows:
|
|
|
|
|
|
|
|
|
Number of
Restricted
Stock
|
|
Weighted
Average
Grant Date
Fair Value
|
Unvested, December 31, 2013 |
361,570 |
|
|
$ |
1.31 |
|
Granted |
— |
|
|
— |
|
Vested |
(205,720 |
) |
|
1.36 |
|
Forfeited |
7,500 |
|
|
2.60 |
|
Unvested, December 31, 2014 |
163,350 |
|
|
$ |
1.31 |
|
|
| 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 years ended December 31, 2014 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, 2013 |
575,000 |
|
|
$0.10-$0.50 |
|
|
$ |
0.29 |
|
|
6.44 years |
|
$ |
120,000 |
|
Granted |
100,000 |
|
|
0.50 |
|
|
0.50 |
|
|
|
|
|
|
Exercised |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Canceled and forfeited |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Expired |
— |
|
|
— |
|
|
— |
|
|
|
|
|
|
Outstanding, December 31, 2014 |
675,000 |
|
|
$0.10-$0.50 |
|
|
$ |
0.32 |
|
|
6.56 years |
|
$ |
120,000 |
|
Exercisable, December 31, 2014 |
193,750 |
|
|
|
|
|
$ |
0.50 |
|
|
|
|
$ |
— |
|
Vested and expected to vest, December 31, 2014 |
675,000 |
|
|
|
|
|
$ |
0.32 |
|
|
|
|
$ |
120,000 |
|
|
| Summary of Weighted Average Assumptions Used in Black-Scholes Option Pricing |
For the Ilios awards noting none made in 2013, the weighted average assumptions used in the Black-Scholes option pricing model for options granted in 2014 are as follows:
|
|
|
Stock option awards: |
|
Expected life |
6.25 years |
Risk-free interest rate |
1.65% |
Expected volatility |
35.2% |
|
| Schedule of Restricted Stock Activity |
Restricted stock activity for the Ilios awards, for the years ended December 31, 2014 was as follows:
|
|
|
|
|
|
|
|
|
Number of
Restricted
Stock
|
|
Weighted
Average
Grant Date
Fair Value
|
Unvested, December 31, 2013 |
310,000 |
|
|
$ |
0.10 |
|
Granted |
— |
|
|
— |
|
Vested |
— |
|
|
— |
|
Forfeited |
— |
|
|
— |
|
Unvested, December 31, 2014 |
310,000 |
|
|
$ |
0.10 |
|
|