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Warrant Liability (Tables)
 9 Months Ended
Sep. 30, 2015
Text Block [Abstract]  
Assumptions Used for Simulation Model

The assumptions used for the Monte Carlo simulation model to value the outstanding Series A Warrants at September 30, 2015 are as follows:

 

Risk-free interest rate per year

      0.40 % 

Expected volatility per year

      66.4 % 

Expected dividend yield

      0 % 

Expected life (years)

      1.2   
Summary of Changes in Fair Value of Warrant Liability

The following table is a summary of the changes in fair value of warrant liability for the Series A Warrants in 2015:

 

     Series A  
     Number of
Warrants		      Fair value $  

Balance at December 31, 2014

      6,936,880       $ 1,684,551   

Changes in fair value

      —           (1,068,626 ) 
  

 

 

     

 

 

  

Balance at September 30, 2015

      6,936,880       $ 615,925