Stock Purchase Warrants (Tables)

3 Months Ended

Mar. 31, 2016

Stock Purchase Warrants [Abstract]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The assumptions used by the Company are summarized in the following table:

	March 31, 2016		December 31, 2015		Issuance Date
Closing stock price		$2.36		$2.29		$1.75
Expected dividends		0%		0%		0%
Expected volatility		90%		85%		95%
Risk free interest rate		0.96%		1.49%		1.39%
Expected life of warrant		3.54 years		3.79 years		5 years

Schedule Of Estimated Fair Value Of The Warrant Liability [Table Text Block]

The following table summarizes the estimated fair value of the warrant liability (in thousands):

Balance at December 31, 2015	$	10,567
Change in fair value of warrant liability		498
Balance at March 31, 2016	$	11,065

Schedule Of Warrant Activity [Table Text Block]

A summary of warrant activity for the Company for the three months ended March 31, 2016 and for the year ended December 31, 2015 is as follows:

	Number of Warrants		Weighted Average Exercise Price
Balance at December 31, 2014		7,974,794	$	1.80
Granted		-	$	-
Exercised		(2,448)	$	1.60
Forfeited		(63,447)	$	1.79
Balance at December 31, 2015		7,908,899	$	1.79
Granted		-	$	-
Exercised		-	$	-
Forfeited		(50,000)	$	3.75
Balance at March 31, 2016		7,858,899	$	1.77

Schedule Of Warrant Outstanding and Exercisable [Table Text Block]

A summary of all outstanding and exercisable warrants as of March 31, 2016 is as follows:

Exercise Price		Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life
$	1.60		311,834		311,834	1.57 years
$	1.75		7,029,808		7,029,808	3.53 years
$	2.22		517,257		517,257	0.66 years
$	1.77		7,858,899		7,858,899	3.26 years