Stockholders’ Equity (Tables)

12 Months Ended

Dec. 31, 2016

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

Schedule of Fair Value of Share Based Payment

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,
	2016			2015
Valuation assumptions:
Grant price		$1.01 - $2.79			$1.15 - $1.56
Exercise price		$1.01 - $2.79			$1.15 - $1.56
Expected dividend yield		0	%		0	%
Expected volatility		96.77% - 98.05	%		95.5%-99.2	%
Expected life (in years)		5			5
Risk-free interest rate		0.94% - 2.10	%		1.37% - 1.62	%

Schedule of Stock Option Activity

Stock option activity under the Plans during the periods indicated below is as follows:

	Number of Shares Subject to Issuance			Weighted- average Exercise Price		Weighted- average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at December 31, 2014		235,478		$	5.95		4.44 years	$	-
Granted		1,689,882		$	1.18
Forfeited or expired		(23,749	)		25.82
Exercised		(313	)		3.12
Outstanding at December 31, 2015		1,901,298		$	1.46		4.51 years	$	-
Granted		269,543		$	1.31
Forfeited or expired		(160,294	)		2.58
Exercised		(345,127	)		1.13
Outstanding at December 31, 2016		1,665,420		$	1.40		3.62 years	$	2,414,446
Exercisable at December 31, 2016		1,051,358		$	1.38		3.60 years	$	1,538,447

Summary of Stock Options

The following is a summary of stock options as of December 31, 2016:

	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		1,493,298		3.66 years	$	1.16		969,236	$	1.16
$1.75 to $2.79		61,000		4.53 years	$	2.10		11,000	$	2.79
$3.12 to $5.68		111,122		2.63 years	$	4.19		71,122	$	4.11
		1,665,420		3.62 years	$	1.40		1,051,358	$	1.38

Schedule of Restricted Stock Units Outstanding

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, 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	$	-
Granted		86,271			1.76
Vested and Settled in Shares		(120,634	)		1.60
Canceled / Expired		-			-
Outstanding at December 31, 2016		32,714		$	1.89	$	26,010

Schedule of Share Based Compensation Expense

Share based compensation expense for the years ended December 31, 2016 and 2015 is as follows:

	Years Ended December 31,
Compensation cost recognized:	2016		2015
Stock options	$	775,338	$	686,797
Restricted stock units		160,561		191,315
	$	935,899	$	878,112

Schedule of Stock Based Compensation

Share based compensation is included in operating expenses as follows:

	Years Ended December 31,
	2016		2015
General and administrative	$	873,392	$	829,208
Research and development		62,507		48,904
	$	935,899	$	878,112