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Borrowing Arrangements (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2016
Dec. 31, 2015
Debt Disclosure [Abstract]    
Notes payable future debt payments
Future debt payments owed under the Fortress Agreement are as follows:
 
 
Years ending December 31:
 
2016
 
$
3,627,398
 
2017
 
 
5,545,221
 
Total
 
$
9,172,619
 
Future debt payments owed under the Fortress Agreement are as follows:
 
 
Years ending December 31:
 
2016
 
$
6,157,893
 
2017
 
 
4,614,473
 
Total
 
$
10,772,366
 
Schedule of warrant fair value assumptions
The Company estimated the fair value of the warrant to be $153,759, using the Black-Scholes option pricing model. The fair value of the warrant as of November 1, 2014 was estimated using the following assumptions:
 
 
Expected volatility
 
 
60
Risk free rate
 
 
1.62
Dividend yield
 
 
0
Expected term (in years)
 
 
5.00
 
The Company estimated the fair value of the warrant to be $153,759, using the Black-Scholes option pricing model. The fair value of the warrant as of November 1, 2014 was estimated using the following assumptions:
 
 
Expected volatility
 
 
60
Risk free rate
 
 
1.62
Dividend yield
 
 
0
Expected term (in years)
 
 
5.00