Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Binomial Lattice Option Valuation Technique [Member]

Schedule of Price Risk Derivatives [Table Text Block]

The Company's warrants were valued on the applicable dates using a Binomial Lattice Option Valuation Technique (“Binomial”). Significant inputs into this technique as of December 31, 2014, August 14, 2015 and September 30, 2015 were as follows:



Binomial Assumptions	December 31, 2014	August 14, 2015	September 30, 2015
Fair market value of asset⁽¹⁾	$0.28	$0.42	$0.42
Exercise price	$0.35-$1.25	$0.25-$0.50	$1.25
Term⁽²⁾	2.7 - 4.2 years	3.5 years	1.9 years
Implied expected life⁽³⁾	2.7 - 4.2 years	3.5 years	1.9 years
Volatility range of inputs⁽⁴⁾	42%--71%	41%--50%	95.72%
Equivalent volatility⁽³⁾	48%--54%	47.00%	96.00%
Risk-free interest rate range of inputs⁽⁵⁾	1.10%--1.38%	1.08%	$0.01
Equivalent risk-free interest rate⁽³⁾	1.10%--1.38%	1.08%	$0.01

(1) The fair market value of the asset was determined by using the Company's closing stock price as reflected in the over-the-counter market.

(2) The term is the contractual remaining term, allocated among twelve equal intervals for purposes of calculating other inputs, such as volatility and risk-free rate.

(3) The implied expected life, and equivalent volatility and risk-free interest rate amounts are derived from the binomial.

(4) The Company does not have a market trading history upon which to base its forward-looking volatility. Accordingly, the Company selected peer companies that provided a reasonable basis upon which to calculate volatility for each of the intervals described in (2), above.

(5) The risk-free rates used for inputs represent the yields on zero coupon U.S. Government Securities with periods to maturity consistent with the intervals described in (2), above.

Warrant [Member]

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table summarizes the Company's activity and fair value calculations of its derivative warrants for the year ended December 31, 2014 and the nine months ended September 30, 2015:



	Linked Common Shares to Derivative Warrants		Warrant Liability
Balance, December 31, 2013	14,360,276		$	1,832,945
Issuance of warrants to investors in 2014 Private Placement	35,786,750		12,382,216
Reclassification of fair value of 2013 Private Placement warrants to equity	(14,236,472	)	(3,166,482		)
Change in fair value of derivatives	—		(7,845,214		)
Balance, December 31, 2014	35,910,554		$	3,203,465
Exercise of warrants for common stock	(27,856,294	)	(5,348,408		)
Loss on exchange of warrants	—		1,197,821
Reclassification of fair value of 2014 Private Placement warrants to equity	(7,930,456	)	(1,181,638		)
Change in fair value of derivatives	—		2,139,540
Balance, September 30, 2015	123,804		$	10,780