Subsequent Events

6 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

12. Subsequent Events

On August 3, 2015, the Company's Board of Directors and shareholders approved a 1-for-50 reverse split of the Company's issued and outstanding common stock, effective at 12:01 am on August 7, 2015. The shares of common stock authorized were also increased to 670 million and retained a par value of $0.01 per share.

On August 4, 2015, the Company announced that it had been cleared to submit an application to the New York Stock Exchange for listing on the NYSE MKT, subject to the Company’s satisfaction of the exchange’s listing standards.

On August 10, 2015, the Board of Directors approved a stock option grant to M. Scott Salka, its Chief Executive Officer, of 399,716 shares of common stock pursuant to his employment agreement with the Company dated April 24, 2015. Vesting of such options will depend upon the attainment of certain milestones as set forth in Mr. Salka’s employment agreement.