Warrant Liability (Tables)

9 Months Ended

Sep. 30, 2016

Warrant Liability [Abstract]

Summary of assumptions used in connection with the valuation of warrants issued

	September 30, 2016			December 31, 2015
Number of shares underlying the warrants		303,694			303,694
Exercise price	$	5.10		$	5.10
Volatility		90	%		98	%
Risk-free interest rate		0.68	%		1.19	%
Expected dividend yield		0			0
Expected warrant life (years)		1.73			2.48
Stock Price	$	7.70		$	11.30

Summary of fair value measurements using significant unobservable inputs (Level 3)

	December 31, 2015		Decrease from Warrants Exercised in 2016		Decrease in Fair Value		September 30, 2016
Warrant liability	$	2,434,101		-	$	1,109,192	$	1,324,909