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Warrant Liability (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Warrant Liabilities [Abstract]    
Summary of assumptions used in connection with the valuation of warrants issued
    December 31, 2014     Exercised during
2015
    June 30,
2015
 
                   
Number of shares underlying the warrants     4,723,357       1,679,286       3,044,071  
Exercise price   $ 0.61     $ 0.61     $ 0.61  
Volatility     128 %     117% – 119 %     117 %
Risk-free interest rate     1.38 %     0.81% – 1.06 %     1.06 %
Expected dividend yield     0       0       0  
Expected warrant life (years)     3.5       3.01 – 3.33       2.99  
Stock Price   $ 0.98     $  1.69 – 2.22     $ 2.35  
 

  

Initial Measurement

June 25, 2013

  December 31, 2013  January 22, 2014  August 19, 2014  December 31, 2014 
                
Number of shares underlying the warrants  5,416,851   5,309,438   5,309,438   5,059,438   4,723,357 
Exercise price $1.65  $1.65  $1.65  $1.65  $0.61 
Volatility  140%  135%  135%  130%  128%
Risk-free interest rate  1.49%  1.75%  1.30%  1.25%  1.38%
Expected dividend yield  0   0   0   0   0 
Expected warrant life (years)  5.0   4.5   4.4   3.9   3.5 
Stock Price $0.96  $1.80  $2.29  $2.05  $0.98 
 
Summary of fair value measurements using significant unobservable inputs (Level 3)
   

December 31, 
2014

   

Decrease from Warrants Exercised in 2015

   

Increase in Fair Value

   

June 30,
2015

 
Warrant liability   $ 3,789,562     $ (2,543,117 )   $ 4,955,110     $ 6,201,555  
 

  December 31, 2013  Decrease from Warrants Exercised in 2014  Decrease in Fair Value  December 31, 2014 
Warrant liability $8,281,247  $(1,055,490) $(3,436,195) $3,789,562 

 

 

  

Initial Measurement

June 25, 2013

  Decrease from Warrants Exercised in 2013  Increase in Fair Value  December 31, 2013 
Warrant liability $4,827,788  $(201,311) $3,654,770  $8,281,247