Stockholders' Equity (Tables)
|
6 Months Ended |
Jun. 30, 2016 |
|---|
| Equity [Abstract] |
|
| Schedule of Fair Value Assumption of Warrants |
In
applying the Black-Scholes option price model to value the warrants, the Company used the following weighted average assumptions:
| |
|
For the three months ended
June 30,
|
|
|
For the six months ended
June 30,
|
|
| |
|
|
2016 |
|
|
|
2015 |
|
|
|
2016 |
|
|
|
2015 |
|
| Risk free interest rate |
|
|
1.12 |
% |
|
|
1.63 |
% |
|
|
1.16 |
% |
|
|
1.57 |
% |
| Expected term (years) |
|
|
5.00 |
|
|
|
5.00 |
|
|
|
5.00 |
|
|
|
6.00 |
|
| Expected volatility |
|
|
46 |
% |
|
|
47 |
% |
|
|
46 |
% |
|
|
47 |
% |
| Expected dividends |
|
|
0.0 |
% |
|
|
0.0 |
% |
|
|
0.0 |
% |
|
|
0.0 |
% |
| Forfeiture rate |
|
|
3 |
% |
|
|
5 |
% |
|
|
4 |
% |
|
|
5 |
% |
|
| Schedule of Stockholders' Equity Note, Warrants or Rights |
A
summary of warrant activity during the six months ended June 30, 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 |
|
|
307,176 |
|
|
|
2.00 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Cancelled |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Outstanding, June 30, 2016 |
|
|
1,689,362 |
|
|
$ |
2.20 |
|
|
|
3.04 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, June 30, 2016 |
|
|
1,614,362 |
|
|
$ |
2.18 |
|
|
|
2.96 |
|
|
$ |
- |
|
|
| Schedule of Share-based Compensation, Equity Instruments Other than Options, by Exercise Price Range |
A
summary of outstanding and exercisable warrants as of June 30, 2016 is presented below:
| Warrants Outstanding |
|
|
Warrants Exercisable |
| Exercise Price |
|
|
Exercisable Info |
|
Outstanding
Number of
Warrants
|
|
|
Weighted
Average
Remaining
Life In Years
|
|
|
Exercisable
Number of|
Warrants
|
|
| $ |
2.00 |
|
|
Common Stock |
|
|
640,818 |
|
|
|
4.3 |
|
|
|
640,818 |
|
| $ |
2.50 |
|
|
Common Stock |
|
|
75,000 |
|
|
|
4.8 |
|
|
|
- |
|
| $ |
2.30 |
|
|
Preferred Stock |
|
|
973,544 |
|
|
|
2.1 |
|
|
|
973,544 |
|
| |
|
|
|
Total |
|
|
1,689,362 |
|
|
|
|
|
|
|
1,614,362 |
|
|
| Schedule of Share-based Compensation, Stock Options, Activity |
A
summary of options activity during the six months ended June 30, 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 |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(75,000 |
) |
|
|
3.85 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(43,750 |
) |
|
|
2.32 |
|
|
|
|
|
|
|
|
|
| Outstanding, June 30, 2016 |
|
|
8,820,686 |
|
|
$ |
2.69 |
|
|
|
2.4 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, June 30, 2016 |
|
|
6,116,281 |
|
|
$ |
2.88 |
|
|
|
1.8 |
|
|
$ |
- |
|
|
| Schedule of Share-based Compensation, Shares Outstanding under Stock Option Plans, by Exercise Price Range |
The
following table presents information related to stock options at June 30, 2016:
| Options Outstanding |
|
|
Options Exercisable |
|
| |
|
|
|
|
|
Weighted |
|
|
|
|
| |
|
|
Outstanding |
|
|
Average |
|
|
Exercisable |
|
| Exercise |
|
|
Number of |
|
|
Remaining Life |
|
|
Number of |
|
| |
Price |
|
|
|
Options |
|
|
|
In Years |
|
|
|
Options |
|
| $ |
2.20 |
|
|
|
2,166,890 |
|
|
|
3.9 |
|
|
|
541,723 |
|
| |
2.48 |
|
|
|
4,847,375 |
|
|
|
2.4 |
|
|
|
3,775,637 |
|
| |
3.30 |
|
|
|
10,000 |
|
|
|
3.9 |
|
|
|
2,500 |
|
| |
3.50 |
|
|
|
25,000 |
|
|
|
2.0 |
|
|
|
25,000 |
|
| |
3.85 |
|
|
|
1,771,421 |
|
|
|
0.0 |
|
|
|
1,771,421 |
|
| |
|
|
|
|
8,820,686 |
|
|
|
1.8 |
|
|
|
6,116,281 |
|
|