Organization and Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share |
The following is a reconciliation of the numerators and
denominators used in computing basic and diluted net income per
share:
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12 Month
Period Ended
December 31,
2015 |
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12 Month
Period Ended
December 31,
2014 |
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12 Month
Period Ended
December 31,
2013 |
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Net loss
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$ |
(18,207,163 |
) |
|
$ |
(26,473,114 |
) |
|
$ |
(10,741,272 |
) |
|
Cumulative dividends on Series G Preferred Stock
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— |
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— |
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— |
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Numerator, basic and diluted net loss available to stockholders
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$ |
(18,207,163 |
) |
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$ |
(26,473,114 |
) |
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$ |
(10,741,272 |
) |
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Denominator:
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Shares used in computation – basic:
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Weighted average common shares outstanding
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7,413,602 |
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7,702,553 |
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6,677,402 |
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Shares used in computation – diluted:
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Weighted average common shares outstanding
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7,413,602 |
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7,702,553 |
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6,677,402 |
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Net loss per share – basic and diluted
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$ |
(2.46 |
) |
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$ |
(3.74 |
) |
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$ |
(1.61 |
) |
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| Convertible Preferred Stock Excluded from EPS [Member] |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Potential common shares from outstanding Convertible Preferred
Stock calculated per the if-converted basis having an anti-dilutive
effect on diluted earnings per share were excluded from potential
common shares as follows:
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2015 |
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2014 |
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2013 |
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Excluded Convertible Preferred Stock
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— |
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2,700 |
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|
2,700 |
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| In the Money Potential Common Shares [Member] |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The potential common shares, in the table following, represent
potential common shares calculated using the treasury stock method
from outstanding options and warrants that were excluded from the
calculation of Diluted EPS:
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2015 |
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2014 |
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2013 |
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Average market price during the period
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$ |
6.36 |
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$ |
18.36 |
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$ |
35.52 |
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In the money potential common shares from options excluded
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— |
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— |
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12,180 |
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In the money potential common shares from warrants excluded
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— |
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— |
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7,697 |
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| Out of Money Potential Common Shares [Member] |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Potential common shares from out-of-the-money options and warrants
were also excluded from the computation of diluted earnings per
share because calculation of the associated potential common shares
has an anti-dilutive effect. The following table lists options and
warrants that were excluded from diluted EPS.
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2015 |
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2014 |
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2013 |
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Out of the money options and warrants excluded:
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Stock Options with an exercise price of $12.48 per share
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137,667 |
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— |
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— |
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Stock Options with an exercise price of $12.84 per share
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4,167 |
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— |
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— |
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Stock Options with an exercise price of $20.88 per share
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— |
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4,313 |
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— |
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Stock Options with an exercise price of $26.40 per share
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79,370 |
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80,801 |
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— |
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Stock Options with an exercise price of $32.76 per share
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53,706 |
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53,706 |
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— |
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Stock Options with an exercise price of $32.88 per share
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— |
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52,820 |
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— |
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Stock Options with an exercise price of $34.68 per share
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78,707 |
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81,985 |
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— |
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Stock Options with an exercise price of $39.00 per share
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8,333 |
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8,333 |
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8,333 |
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Stock Options with an exercise price of $40.80 per share
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— |
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8,333 |
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8,333 |
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Stock Options with an exercise price of $41.16 per share
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3,333 |
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3,333 |
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3,333 |
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Stock Options with an exercise price of $42.00 per share
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8,333 |
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8,333 |
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28,750 |
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Stock Options with an exercise price of $46.80 per share
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1,667 |
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1,667 |
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1,667 |
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Stock Options with an exercise price of $48.00 per share
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— |
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— |
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4,375 |
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Warrants with an exercise price of $43.20 per share
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130,208 |
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130,208 |
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130,208 |
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Total anti-dilutive warrants and options excluded from EPS
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505,491 |
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433,832 |
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185,000 |
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| Unvested Restricted Stock Awards Excluded from EPS [Member] |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The weighted average equivalent common shares relating to our
unvested restricted stock awards that were excluded from potential
common shares used in the earning per share calculation due to
having an anti-dilutive effect are:
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2015 |
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2014 |
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2013 |
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Excluded unvested restricted stock awards
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92,587 |
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44,138 |
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12,669 |
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