Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the income tax provision computed at the statutory tax rate to the Company’s effective tax rate is as follows:

	2015			2014
U.S. federal statutory rate		34.00	%		35.00	%
Warrant liability		3.71	%		(23.70	)%
State & local taxes		5.78	%		5.02	%
Tax on foreign operations		0.36	%		0.20	%
State research and development credits		1.47	%		0.55	%
Other		(3.11	)%		(3.10	)%
Valuation allowance		(42.21	)%		(13.97	)%
Effective tax rate		-			-

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets as of December 31, 2015 and 2014 are as follows:

	2015			2014
Deferred tax assets:
Net operating loss carry forwards	$	29,092,799		$	27,935,165
Research and development credits		1,163,616			1,118,389
Nonqualified stock option compensation expense		374,769			1,913,673
Other temporary book - tax differences		258,445			436,178
Total deferred tax assets		30,889,629			31,403,405
Valuation allowance for deferred tax assets		(30,889,629	)		(31,403,405	)
Net deferred tax assets	$	-		$	-