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Loan Payable (Tables)
9 Months Ended
Sep. 30, 2016
Debt Disclosure [Abstract]  
Assumptions Used for Black-Scholes Option Pricing Model

We estimated the fair value of the warrant to be approximately $388,000 using the Black-Scholes option pricing model with the following assumptions:

 

Expected life (years)

     10   

Risk-free interest rate

     1.9

Expected volatility

     88.1

Expected dividend yield

     0