Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2017

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, 2017			September 30, 2016			September 30, 2017			September 30, 2016
Net income (loss)	$	(2,251,097	)	$	(2,132,303	)	$	(6,367,245	)	$	(3,906,437	)

Numerator, basic and diluted net income (loss) available to stockholders	$	(2,251,097	)	$	(2,132,303	)	$	(6,367,245	)	$	(3,906,437	)

Denominator:
Shares used in computation – basic:
Weighted average common shares outstanding		8,388,821			7,558,835			8,145,689			7,548,136

Common shares outstanding for basic		8,388,821			7,558,835			8,145,689			7,548,136

Shares used in computation – diluted:
Common shares outstanding for basic		8,388,821			7,558,835			8,145,689			7,548,136

Shares used in computing diluted net income per share		8,388,821			7,558,835			8,145,689			7,548,136

Net (loss) per share – basic	$	(0.27	)	$	(0.28	)	$	(0.78	)	$	(0.52	)
Net (loss) per share – diluted	$	(0.27	)	$	(0.28	)	$	(0.78	)	$	(0.52	)

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, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Average market price during the period	$	4.18	$	3.24	$	3.99	$	3.31
In the money potential common shares from options excluded		7,763		4,474		7,062		4,631
In the money potential common shares from warrants excluded		18,948		—		14,136		—

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
Per share exercise price	September 30, 2017		September 30, 2016		September 30, 2017		September 30, 2016
Out of the money options excluded:
$ 3.59		—		7,521		—		7,521
$12.48		137,666		137,666		137,666		137,666
$12.84		4,167		4,167		4,167		4,167
$26.40		75,158		75,794		75,158		75,794
$32.76		—		53,707		—		53,707
$34.68		73,765		74,265		73,765		74,265
$39.00		8,333		8,333		8,333		8,333
$41.16		833		833		833		833
$42.00		8,333		8,333		8,333		8,333
$46.80		—		1,667		—		1,667
Out-of-the-money warrants excluded:
$43.20		—		130,208		—		130,208

Total excluded		308,255		502,494		308,255		502,494

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,
2017

September 30,
2016

September 30,
2017

September 30,
2016

Potential common shares from unvested restricted stock awards excluded from EPS

238,921

104,546

238,921

104,546