Stockholders’ Equity (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Valuation Assumptions

The fair value of share-based payment units was estimated using the Black-Scholes option pricing model with the following assumptions and weighted average fair values as follows:

	Twelve Months Ended
	December 31,
	2015			2014
Valuation assumptions:
Grant price		$1.15 - $1.56			$3.09 - $5.68
Exercise price		$1.15 - $1.56			$3.09 - $5.68
Expected dividend yield		0	%		0	%
Expected volatility		95.5%-99.2	%		90%-152.6	%
Expected life (in years)		5			5
Risk-free interest rate		1.37% - 1.62	%		0.75% - 1.97	%

Schedule of Share-based Compensation, Stock Options, Activity

The compensation expense incurred by the Company for RSUs is based on the closing market price of the Company’s common stock on the date of grant and is amortized ratably on a straight-line basis over the requisite service period and charged to general and administrative expense with a corresponding increase to additional paid-in capital.

	Number of Shares			Weighted Average Grant Date Fair Value			Aggregate Intrinsic Value
Outstanding at December 31, 2013		-		$	-		$	-
Granted		34,351			3.93
Vested and Settled in Shares		(2,544	)		3.93
Canceled / Expired		-			-			-
Outstanding at December 31, 2014		31,807			3.93		$	-
Granted		122,119			1.24			-
Vested and Settled in Shares		(86,849	)		(1.98	)
Canceled / Expired		-			-			-
Outstanding at December 31, 2015		67,077		$	1.56		$	-

Summary of Stock Options

The following is a summary of stock options as of December 31, 2015:

	Options Outstanding					Options Exercisable
Range of Exercise Prices	Number of Options		Weighted- average Remaining Life	Weighted- average Exercise Price		Number of Options		Weighted- average Exercise Price
$1.15 to $1.56		1,689,882	4.60 years	$	1.18		420,039	$	1.22
$3.09 to $5.68		211,122	3.79 years	$	3.67		75,185	$	3.73
$44.40		294	0.46 years	$	44.40		294	$	44.40
		1,901,298	4.51 years	$	1.46		495,518	$	1.63

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The compensation expense incurred by the Company for RSUs is based on the closing market price of the Company’s common stock on the date of grant and is amortized ratably on a straight-line basis over the requisite service period and charged to general and administrative expense with a corresponding increase to additional paid-in capital.

	Number of Shares			Weighted Average Grant Date Fair Value			Aggregate Intrinsic Value
Outstanding at December 31, 2013		-		$	-		$	-
Granted		34,351			3.93
Vested and Settled in Shares		(2,544	)		3.93
Canceled / Expired		-			-			-
Outstanding at December 31, 2014		31,807			3.93		$	-
Granted		122,119			1.24			-
Vested and Settled in Shares		(86,849	)		(1.98	)
Canceled / Expired		-			-			-
Outstanding at December 31, 2015		67,077		$	1.56		$	-

Schedule of Share Based Compensation Expense

Share based compensation expense for the years ended December 31, 2015 and 2014 is as follows:

	Years Ended December 31,
	2015		2014
Compensation cost recognized:
Stock options	$	686,797	$	101,767
Restricted stock units		191,315		86,873
	$	878,112	$	188,640

Schedule of Share-based Compensation Included in Operating Expenses

Share based compensation is included in operating expenses as follows:

	Years Ended December 31,
	2015		2014
General and administrative	$	829,208		184,543
Research and development		48,904		4,097
	$	878,112	$	188,640