Subsequent Event

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

10. Subsequent Event

On October 10, 2014, the Company sold a total of 14,059,616 units at a purchase price of $1.47, with each unit consisting of one share of the Company’s common stock, par value of $0.001 per share and a warrant to purchase 0.5 shares of common stock in a registered direct offering for gross proceeds of $20.7 million and net proceeds of $18.9 million.

Each warrant has an exercise price of $1.75 per share, is exercisable immediately after the date of issuance and will expire five years from the date on which it is initially exercisable. The common stock and the warrants are immediately separable and were issued separately.