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Equity (Tables)
 6 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Summary of Stock Option activity

A summary of stock option activity for the six months ended June 30, 2016 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, 2015     2,364,918     $ 3.51                  
Granted     50,000     $ 0.14                  
Exercised     —       —                  
Forfeited or expired     (95,503 )   $ 3.89                  
Outstanding at June 30, 2016     2,319,415     $ 3.42       4.8 years     $ 3  
Exercisable at June 30, 2016     2,191,080     $ 3.55       4.8 years     $ 1  

 
Schedule of Stock Options Fair Value Assumptions Estimated Using Black-Scholes Pricing Model

The fair value of the options granted ($0.10 per option during the six months ended June 30, 2016) was estimated on the grant dates using the Black-Scholes option-pricing model with the following weighted average assumptions:

 

Risk-free interest rate     1.6 %
Expected term of options     6.4 years  
Expected annual volatility     79 %
Expected dividend yield     —%  

 
Summary of Warrant Activity

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, 2015     2,619,423     $ 1.48          
Granted     35,000       0.13          
Exercised     —       —          
Forfeited or expired     —       —          
Outstanding at June 30, 2016     2,654,423     $ 1.46       3.9 years  

 
Schedule of Warrant Fair Value Assumptions Estimated Using Black-scholes Pricing Model

The fair value of the warrants granted ($0.08 per warrant during the six months ended June 30, 2016) was estimated on the grant dates using the Black-Scholes option-pricing model with the following weighted average assumptions:

 

Risk-free interest rate     1.79 %
Expected term of warrants     7.0 years  
Expected annual volatility     78 %
Expected dividend yield     —%