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Share-based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following is a summary of service vesting based related stock option activity for the six month period ended June 30, 2017, and the status of stock options outstanding at June 30, 2017:

	Six Month Period Ended
	June 30, 2017
			Wtd. Avg.
			Exercise
	Options		Price
Outstanding at beginning of year		2,513,861	$	1.78
Granted		110,000	$	1.79
Exercised		(131,427)	$	1.17
Forfeited		(47,783)	$	3.59
Expired		(91,068)	$	1.45
Outstanding at June 30, 2017		2,353,583	$	1.79

Stock options exercisable at June 30, 2017		1,402,185	$	1.71

Weighted average assumptions of share based payment

The fair value of share-based payments made with stock options to employees and non-employee directors was estimated on the measurement date using the Black-Scholes model using the following weighted average assumptions.

	Three Month Period Ended					Six Month Period Ended
	June 30,					June 30,
	2017		2016			2017			2016
Risk free interest rate		N/A		1.45	%		2.07	%		1.52	%
Dividend yield		N/A		0.0	%		0.0	%		0.0	%
Expected term (in years)		N/A		7.00			5.18			7.00
Volatility		N/A		75	%		75	%		75	%

Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following is a summary of restricted stock activity for the six month period ended June 30, 2017, and the status of unvested restricted stock outstanding at June 30, 2017:

	Six Month Period Ended
	June 30, 2017
	Number of
	Restricted		Grant-Date
	Shares		Fair Value
Outstanding at beginning of year		98,439	$	1.90
Granted		207,350	$	1.76
Vested		(32,813)	$	1.90
Outstanding at June 30, 2017		272,976	$	1.79

Stock compensation expense

We recorded stock compensation expense for the three and six month periods ended June 30, 2017 and 2016, as follows:

	Three Month Period Ended				Six Month Period Ended
	June 30,				June 30,
	2017		2016		2017		2016
Research and development costs	$	58,815	$	47,366	$	118,080	$	84,835
Sales and marketing costs		58,051		54,748		117,670		118,247
General and administrative costs		154,983		142,367		323,181		219,878
Cost of product sales		42,024		11,754		84,837		(20,197)
Total	$	313,873	$	256,235	$	643,768	$	402,763