Loan Payable (Tables)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Assumptions Used for Black-Scholes Option Pricing Model

We estimated the fair value of the warrant to be approximately $388,000 using the Black-Scholes option pricing model with the following assumptions:

Expected life (years)	10
Risk-free interest rate	1.9	%
Expected volatility	88.1	%
Expected dividend yield	0	%

Summary of Changes in Carrying Value of Loan Payable

The following table is a summary of the changes in the carrying value of our loan payable for the three months ended March 31, 2016:

	Silicon Valley Bank Loan
Carrying value of loan payable, current at December 31, 2015	$	1,417,388
Repayment of principal		(1,064,177	)
Accretion of discount		5,107
Carrying value of loan payable, current at March 31, 2016	$	358,318