Organization and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Basic weighted average common shares outstanding, and the potentially dilutive securities excluded from loss per share computations because they are antidilutive, are as follows for the years ended December 31, 2016 and 2015:

	2016		2015
Basic and diluted weighted average common stock shares outstanding		12,642,996		12,177,396
Potentially dilutive securities excluded from loss per share computations:
Common stock options		2,513,861		2,555,263
Common stock purchase warrants		7,603,141		7,195,997
Unvested Restricted Stock		98,439		––

Schedule of weighted-average assumptions

The fair value of options at the date of grant is determined under the Black-Scholes option pricing model. During the years ended December 31, 2016 and 2015, the following weighted-average assumptions were used:

Assumptions	2016			2015
Risk-free rate		1.51	%		1.77	%
Annual rate of dividends		––			––
Historical volatility		75	%		105.20	%
Expected life		7.0 years			7.0 years