Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2015 and 2014, the expected income tax effect of the Company’s deferred tax assets (liabilities) consisted of the following:

	2015		2014
Deferred tax asset:
Tax effect of:
Net operating loss carryforwards	$	29,122,000	$	26,754,000
Accrued expenses		87,000		105,000
Amortization of definite lived intangible assets		10,000		12,000
Non-qualified stock option compensation		315,000		113,000
Depreciation		72,000		97,000
Deferred revenue		880,000		930,000
Other		139,000		146,000
Patents		(23,000)		(77,000)
State net operating loss carryforwards, net of federal tax benefit		579,000		214,000
Research tax credit carryforwards		2,274,000		2,169,000
Total deferred tax assets		33,455,000		30,463,000
Valuation allowance		(33,455,000)		(30,463,000)
Net deferred tax assets	$	-	$	-

Schedule of Effective Income Tax Rate Reconciliation

The benefit for income taxes differs from the federal statutory rate due to the following:

	2015			2014
Tax at statutory rate		(34.0)	%		(34.0)	%
State taxes, net of federal benefit		0.0			0.0
Research and development credit		(1.3)			(1.4)
Share based payment expense		1.6			1.8
Other		0.7			1.5
Removal of deferred tax asset on federal net operating losses		0.0			0.0
Establishment of deferred tax asset on state net operating losses and state deferred taxes, net of federal income tax benefits		(4.9)			(3.8)
Change in valuation allowance		37.9			36.0
Effective tax rate		0.0	%		0.0	%