Stockholders' Equity (Tables)
|
9 Months Ended |
Sep. 30, 2017 |
|---|
| Equity [Abstract] |
|
| Schedule of Fair Value Assumption of Warrants |
Warrants granted
during the three and nine months ended September 30, 2017 and 2016 were valued using the Black Scholes valuation model with the
following weighted-average assumptions:
| |
|
For the three months ended
September 30,
|
|
|
For the nine months ended
September 30,
|
|
| |
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
| Risk free interest rate |
|
|
- |
|
|
|
1.14 |
% |
|
|
- |
|
|
|
1.16 |
% |
| Expected term (years) |
|
|
- |
|
|
|
5.00 |
|
|
|
- |
|
|
|
5.00 |
|
| Expected volatility |
|
|
- |
|
|
|
46.0 |
% |
|
|
- |
|
|
|
46.0 |
% |
| Expected dividends |
|
|
- |
|
|
|
0.0 |
% |
|
|
- |
|
|
|
0.0 |
% |
|
| Schedule of Stockholders' Equity Note, Warrants or Rights |
A summary of warrants
activity during the nine months ended September 30, 2017 is presented below:
| |
|
Number of Warrants |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining Life in Years |
|
|
Intrinsic Value |
|
| Outstanding, December 31, 2016 |
|
|
1,901,480 |
|
|
$ |
2.20 |
|
|
|
|
|
|
|
|
|
| Issued |
|
|
2,250 |
|
|
|
2.00 |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Cancelled |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Outstanding, September 30, 2017 |
|
|
1,903,730 |
|
|
$ |
2.20 |
|
|
|
2.3 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, September 30, 2017 |
|
|
1,903,730 |
|
|
$ |
2.20 |
|
|
|
2.3 |
|
|
$ |
- |
|
|
| Schedule of Share-based Compensation, Equity Instruments Other than Options, by Exercise Price Range |
A summary of outstanding and exercisable warrants of September
30, 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 |
|
|
|
3.5 |
|
|
|
741,879 |
|
| $ |
2.30 |
|
|
Preferred Stock |
|
|
973,544 |
|
|
|
1.1 |
|
|
|
973,544 |
|
| $ |
2.50 |
|
|
Common Stock |
|
|
188,307 |
|
|
|
3.7 |
|
|
|
188,307 |
|
| |
|
|
|
Total |
|
|
1,903,730 |
|
|
|
|
|
|
|
1,903,730 |
|
|
| Schedule of Share-based Compensation, Stock Options, Activity |
A summary of options activity during
the nine months ended September 30, 2017 is presented below:
| |
|
Number of
Options
|
|
|
Weighted Average Exercise Price
Warrants
|
|
|
Weighted Average Remaining Life
In Years
|
|
|
Intrinsic Value |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding, December 31, 2016 |
|
|
8,024,265 |
|
|
$ |
2.39 |
|
|
|
|
|
|
|
|
|
| Granted |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Exercised |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
| Expired |
|
|
(75,000 |
) |
|
|
3.85 |
|
|
|
|
|
|
|
|
|
| Forfeited |
|
|
(110,000 |
) |
|
|
2.39 |
|
|
|
|
|
|
|
|
|
| Outstanding, September 30, 2017 |
|
|
7,839,265 |
|
|
|
2.39 |
|
|
|
2.2 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Exercisable, September 30, 2017 |
|
|
3,391,408 |
|
|
$ |
2.36 |
|
|
|
2.4 |
|
|
$ |
- |
|
|
| 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 September 30, 2017:
| Options Outstanding |
|
|
Options Exercisable |
|
| |
|
|
|
|
|
Weighted |
|
|
|
|
| |
|
|
Outstanding |
|
|
Average |
|
|
Exercisable |
|
| Exercise |
|
|
Number of |
|
|
Remaining Life |
|
|
Number of |
|
| Price |
|
|
Options |
|
|
In Years |
|
|
Options |
|
| $ |
2.20 |
|
|
|
3,031,890 |
|
|
|
3.0 |
|
|
|
1,590,876 |
|
| |
2.48 |
|
|
|
4,772,375 |
|
|
|
1.9 |
|
|
|
1,769,907 |
|
| |
3.30 |
|
|
|
10,000 |
|
|
|
2.7 |
|
|
|
5,625 |
|
| |
3.50 |
|
|
|
25,000 |
|
|
|
1.0 |
|
|
|
25,000 |
|
| |
|
|
|
|
7,839,265 |
|
|
|
2.4 |
|
|
|
3,391,408 |
|
|