Stockholders' (Deficiency) Equity (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Equity [Abstract] |
|
| Schedule of Fair Value Assumption of Warrants |
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| Risk free interest rate |
|
|
1.92 |
% |
|
|
1.01 - 1.93 |
% |
| Expected term (years) |
|
|
5.00 |
|
|
|
5.00 |
|
| Expected volatility |
|
|
44.0 |
% |
|
|
44.0% - 46.0 |
% |
| Expected dividends |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Forfeiture rate |
|
|
5.0 |
% |
|
|
5.0 |
% |
|
| Summary of Warrants Activity |
A summary of warrants
activity during the years ended December 31, 2017 and 2016 is presented below:
| |
|
Number of
Warrants
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life in Years
|
|
|
Intrinsic
Value
|
|
| Outstanding, December 31, 2015 |
|
|
1,382,186 |
|
|
|
2.10 |
|
|
|
|
|
|
|
|
|
| Issued |
|
|
519,294 |
|
|
|
2.17 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Cancelled |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2016 |
|
|
1,901,480 |
|
|
|
2.20 |
|
|
|
|
|
|
|
|
|
| Issued |
|
|
2,250 |
|
|
|
2.00 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Cancelled |
|
|
(438,434 |
) |
|
|
2.30 |
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2017 |
|
|
1,465,296 |
|
|
$ |
2.17 |
|
|
|
2.4 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, December 31, 2017 |
|
|
1,465,296 |
|
|
$ |
2.17 |
|
|
|
2.4 |
|
|
$ |
- |
|
|
| Schedule of Share-based Compensation, Equity Instruments Other Than Options, by Exercise Price Range |
A summary of outstanding and exercisable
warrants as of December 31, 2017 is presented below:
| Warrants Outstanding |
|
|
Warrants Exercisable |
|
| Exercise Price |
|
|
Exercisable Into |
|
Outstanding
Number of
Warrants
|
|
|
Weighted
Average Remaining
Life in Years
|
|
|
Exercisable
Number of
Warrants
|
|
| $ |
2.00 |
|
|
Common Stock |
|
|
741,879 |
|
|
|
3.0 |
|
|
|
741,879 |
|
| $ |
2.30 |
|
|
Common Stock |
|
|
535,110 |
|
|
|
1.1 |
|
|
|
535,110 |
|
| $ |
2.50 |
|
|
Common Stock |
|
|
188,307 |
|
|
|
3.2 |
|
|
|
188,307 |
|
| |
|
|
|
Total |
|
|
1,465,296 |
|
|
|
|
|
|
|
1,465,296 |
|
|
| Schedule of Fair Value Assumptions of Stock Option |
The Company has
computed the fair value of options granted using the Black-Scholes option pricing model. In applying the Black-Scholes option pricing
model, the Company used the following assumptions:
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| Risk free interest rate |
|
|
2.06 |
% |
|
|
0.84% - 1.267 |
% |
| Expected term (years) |
|
|
3.5 - 4.5 |
|
|
|
3.25 - 3.5 |
|
| Expected volatility |
|
|
42.30 |
% |
|
|
44.0% - 46.1 |
% |
| Expected dividends |
|
|
0.00 |
% |
|
|
0.0 |
% |
|
| Schedule of Share-based Compensation, Stock Options, Activity |
A summary of options
activity during the years ended December 31, 2017 and 2016 is presented below:
| |
|
Number of
Options
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life in Years
|
|
|
Intrinsic Value |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2015 |
|
|
8,939,436 |
|
|
|
2.70 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
900,000 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(1,771,421 |
) |
|
|
3.85 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(43,750 |
) |
|
|
3.85 |
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2016 |
|
|
8,024,265 |
|
|
|
2.39 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
1,395,000 |
|
|
|
1.10 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(75,000 |
) |
|
|
3.85 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(110,000 |
) |
|
|
2.39 |
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2017 |
|
|
9,234,265 |
|
|
$ |
2.18 |
|
|
|
2.2 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, December 31, 2017 |
|
|
6,233,960 |
|
|
$ |
2.40 |
|
|
|
1.5 |
|
|
$ |
- |
|
|
| Schedule of Share-based Compensation, Shares Outstanding Under Stock Option Plans, by Exercise Price Range |
The following table
presents information related to stock options as of December 31, 2017:
| Options Outstanding |
|
|
Options Exercisable |
|
| Exercise Price |
|
|
Outstanding
Number of
Options
|
|
|
Weighted
Average
Remaining
Life in Years
|
|
|
Exercisable
Number of
Options
|
|
| $ |
1.10 |
|
|
|
1,395,000 |
|
|
|
N/A |
|
|
|
- |
|
| $ |
2.20 |
|
|
|
3,031,890 |
|
|
|
2.8 |
|
|
|
1,849,116 |
|
| $ |
2.48 |
|
|
|
4,772,375 |
|
|
|
1.0 |
|
|
|
4,353,594 |
|
| $ |
3.30 |
|
|
|
10,000 |
|
|
|
2.4 |
|
|
|
6,250 |
|
| $ |
3.50 |
|
|
|
25,000 |
|
|
|
1.0 |
|
|
|
25,000 |
|
| |
|
|
|
|
9,234,265 |
|
|
|
1.5 |
|
|
|
6,233,960 |
|
|