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Equity (Tables)
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Summary of Stock Option Activity

A summary of stock option activity for the three months ended March 31, 2015 is as follows:

 

   

Number

of Options

(in shares)

    

Weighted

Average

Exercise

Price Per Share

     Weighted Average Remaining Contractual Life     Aggregate Intrinsic Value  
Outstanding at December 31, 2014     1,812,428     $ 4.51                  
Granted     662,654     $ 0.77                  
Exercised     —       —                  
Forfeited or expired     (86,830 )   $ 3.12                  
Outstanding at March 31, 2015     2,388,252     $ 3.52       5.8 years     $ —  
Exercisable at March 31, 2015     1,198,570     $ 5.28       3.8 years     $ —  
Schedule of Fair Value Assumptions Estimated Using Black-Scholes Pricing Model

Black-Scholes option-pricing model with the following weighted average assumptions:

 

Risk-free interest rate     2.1 %
Expected term of options     8.7 years  
Expected annual volatility     63 %
Expected dividend yield     — %
Summary of Warrant Activity

The Company previously issued warrants at exercise prices equal to or greater than market value of the Company’s common stock at the date of issuance. A summary of warrant activity follows:

 

   

Number

of Warrants

(in shares)

     Weighted Average Exercise Price Per Share       Weighted Average Remaining Contractual Life  
Outstanding at December 31, 2014     2,642,423     $ 1.50          
Granted     —                  
Exercised     —       —          
Forfeited or expired     —       —          
Outstanding at March 31, 2015     2,642,423     $ 1.50       4.9 years