ADMA Biologics, Inc. Quarterly report pursuant to sections 13 or 15(d)

Quarterly report pursuant to sections 13 or 15(d)

4. STOCKHOLDERS' EQUITY (Tables)

4. STOCKHOLDERS' EQUITY (Tables)

9 Months Ended

Sep. 30, 2012

Compensation expense associated with stock options

The Company records compensation expense associated with stock options and other forms of equity compensation using the Black-Scholes option-pricing model and the following assumptions:

	Nine Months Ended September 30, 2012
Expected Term	6.25 years
Volatility	82-84%
Dividend yield	0.0%
Risk-free interest rate	0.97-1.62%

Companys option and warrant activity

A summary of the Company’s option and warrant activity under the Plan and related information is as follows:

	Nine Months Ended September 30, 2012
	Shares		Weighted Average Exercise Price
Outstanding at beginning of period		83,378	$	3.33
Forfeited		-	$	-
Granted		506,559	$	9.60
Outstanding at end of period and expected to vest		589,937	$	8.71
Options exercisable		142,248	$	6.01
Weighted-average fair value of options granted during the period			$	6.82

Stock-based compensation expenses

Stock-based compensation expenses for the three and nine months ended September 30, 2012 and 2011 was:

	Three months ended September 30,
	2012		2011
Research and development	$	43,178	$	769
General and administrative		165,017		1,850
Total stock-based compensation expense	$	208,195	$	2,619

	Nine months ended September 30,
		2012		2011
Research and development	$	49,446	$	2,283
General and administrative		359,098		17,340
Total stock-based compensation expense	$	408,544	$	19,623