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Stock Options and Warrants (Tables)
3 Months Ended
Mar. 31, 2016
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The following table summarizes weighted-average assumptions using the Black-Scholes option-pricing model used on the date of the grants issued during the First Quarter 2016 and the First Quarter 2015:
 
 
 
First Quarter
 
 
 
2016
 
2015
 
Volatility
 
 
62
%
 
64
%
Expected term (years)
 
 
10 yrs
 
 
10 yrs
 
Risk-free interest rate
 
 
1.94
%
 
1.92
%
Dividend yield
 
 
0
%
 
0
%
Warrant [Member]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Warrant activity for the First Quarter 2016 and the First Quarter 2015 is summarized as follows:
 
 
 
First Quarter 2016
 
First Quarter 2015
 
 
 
Shares
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value as of
March 31,
2016
 
Shares
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value as of
March 31,
2015
 
Warrants outstanding at beginning of period
 
 
2,385,000
 
$
0.17
 
 
 
 
 
 
3,303,000
 
$
0.17
 
 
 
 
Granted
 
 
0
 
 
NA
 
 
 
 
 
 
0
 
 
NA
 
 
 
 
Exercised
 
 
0
 
 
NA
 
 
 
 
 
 
0
 
 
NA
 
 
 
 
Cancelled/expired
 
 
0
 
 
NA
 
 
 
 
 
 
0
 
 
NA
 
 
 
 
Warrants outstanding at end of period
 
 
2,385,000
 
$
0.17
 
 
 
None
 
 
3,303,000
 
$
0.17
 
$
0
 
Warrants exercisable at end of period
 
 
2,385,000
 
$
0.17
 
 
 
 
 
 
3,303,000
 
$
0.17
 
 
 
 
Employee Stock Option [Member]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
Stock option activity for the First Quarter 2016 and the First Quarter 2015 is summarized as follows (the figures contained within the tables below have been rounded to the nearest thousand):
 
 
 
First Quarter 2016
 
First Quarter 2015
 
 
 
Shares
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value as of
March 31,
2016
 
Shares
 
Weighted
Average
Exercise
Price
 
Aggregate
Intrinsic
Value as of
March 31,
2015
 
Options outstanding at beginning of period
 
 
1,435,000
 
$
0.14
 
 
 
 
 
1,295,000
 
$
0.31
 
 
 
 
Granted
 
 
750,000
 
$
0.11
 
 
 
 
 
10,000
 
$
0.13
 
 
 
 
Exercised
 
 
0
 
 
NA
 
 
 
 
 
0
 
 
NA
 
 
 
 
Cancelled/expired
 
 
0
 
 
NA
 
 
 
 
 
(57,000)
 
$
1.01
 
 
 
 
Options outstanding at end of period
 
 
2,185,000
 
$
0.13
 
$
9,000
 
 
1,248,000
 
$
0.23
 
$
13,000
 
Options exercisable at end of period
 
 
1,037,000
 
$
0.15
 
 
 
 
 
889,000
 
$
0.26