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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2016

Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share

The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:

		Three Months Ended								Nine Months Ended
		September 30, 2016				September 30, 2015				September 30, 2016				September 30, 2015
Net income (loss)		$	(2,132,303	)		$	(4,580,255	)		$	(3,906,437	)		$	(20,420,945	)
Numerator, basic and diluted net income (loss) available to stockholders		$	(2,132,303	)		$	(4,580,255	)		$	(3,906,437	)		$	(20,420,945	)
Denominator:
Shares used in computation – basic:
Weighted average common shares outstanding			7,558,835				7,481,798				7,548,136				7,387,952
Common shares outstanding for basic			7,558,835				7,481,798				7,548,136				7,387,952
Shares used in computation – diluted:
Common shares outstanding for basic			7,558,835				7,481,798				7,548,136				7,387,952
Shares used in computing diluted net income per share			7,558,835				7,481,798				7,548,136				7,387,952
Net (loss) per share – basic		$	(0.28	)		$	(0.60	)		$	(0.52	)		$	(2.76	)
Net (loss) per share – diluted		$	(0.28	)		$	(0.60	)		$	(0.52	)		$	(2.76	)

In the Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential common shares in the following tables represent potential common shares calculated using the treasury stock method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS:

		Three Months Ended								Nine Months Ended
		September 30, 2016				September 30, 2015				September 30, 2016				September 30, 2015
Average market price during the period		$	3.24			$	4.44			$	3.31			$	6.96
In the money potential common shares from options excluded			4,474				—				4,631				—
In the money potential common shares from warrants excluded			—				—				—				—

Out of Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS:

		Three Months Ended								Nine Months Ended
		September 30, 2016				September 30, 2015				September 30, 2016				September 30, 2015
Out of the money options and warrants excluded:
Stock options with an exercise price of $3.59 per share			7,521				—				7,521				—
Stock options with an exercise price of $12.48 per share			137,666				137,666				137,666				137,666
Stock options with an exercise price of $12.84 per share			4,167				4,167				4,167				4,167
Stock options with an exercise price of $20.88 per share			—				—				—				—
Stock options with an exercise price of $26.40 per share			75,794				79,370				75,794				79,370
Stock options with an exercise price of $32.76 per share			53,707				53,706				53,707				53,706
Stock options with an exercise price of $32.88 per share			—				50,783				—				50,783
Stock options with an exercise price of $34.68 per share			74,265				78,707				74,265				78,707
Stock options with an exercise price of $39.00 per share			8,333				8,333				8,333				8,333
Stock options with an exercise price of $40.80 per share			—				—				—				—
Stock options with an exercise price of $41.16 per share			833				3,333				833				3,333
Stock options with an exercise price of $42.00 per share			8,333				8,333				8,333				8,333
Stock options with an exercise price of $46.80 per share			1,667				1,667				1,667				1,667
Warrants with an exercise price of $43.20 per share			130,208				130,208				130,208				130,208
Total anti-dilutive warrants and options excluded from EPS			502,494				556,273				502,494				556,273

Unvested Restricted Stock Awards Excluded from EPS [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The weighted average equivalent common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are:

Three Months Ended

Nine Months Ended

September 30, 2016

September 30, 2015

September 30, 2016

September 30, 2015

Potential common shares from unvested restricted stock awards excluded from EPS

104,546

127,220

104,546

127,220

X

- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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