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Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2019
Share-based Payment Arrangement [Abstract]  
Schedule of Estimated Values of Stock Option Grants Valuation Assumptions

The weighted average estimated values of director and employee stock option grants, as well as the weighted average assumptions that were used in calculating such values during the six months ended June 30, 2019 and 2018, were based on estimates at the date of grant as follows:

 

   April 30,   January 1,   February 10, 
   2015 Grant   2016 Grant   2016 Grant 
Risk-free interest rate   1.43%   1.76%   1.15%
Weighted average expected term   5 years    5 years     5 years 
Expected volatility   143.10%   134.18%   132.97%
Expected dividend yield   0.00%   0.00%   0.00%

 

   December 6,   March 15,   September 25, 
   2016 Grant   2017 Grant   2017 Grant 
Risk-free interest rate   1.84%   2.14%   1.85%
Weighted average expected term   5 years    5 years     5 years 
Expected volatility   123.82%   121.19%   130.79%
Expected dividend yield   0.00%   0.00%   0.00%

 

   January 30,   March 11, 
   2019 Grant   2019 Grant 
Risk-free interest rate   2.54%   2.44%
Weighted average expected term   5 years    5 years  
Expected volatility   115.80%   116.46%
Expected dividend yield   0.00%   0.00%
Schedule of Stock Option Activity

A summary of stock option activity during the six months ended June 30, 2019 and 2018 is as follows:

 

           Weighted-     
       Weighted-   Average     
   Shares   Average   Remaining   Aggregate 
   Under   Exercise   Contractual   Intrinsic 
   Option   Price   Life   Value 
Outstanding at January 1, 2018   2,238,000   $0.55    9 years    79,200 
                     
Outstanding at June 30, 2018   2,238,000   $0.55    8 years   $79,200 
                     
Exercisable at June 30, 2018   1,251,750   $0.63    8 years   $79,200 

 

           Weighted-     
       Weighted-   Average     
   Shares   Average   Remaining   Aggregate 
   Under   Exercise   Contractual   Intrinsic 
   Option   Price   Life   Value 
Outstanding at January 1, 2019   2,238,000   $0.55    8 years    79,200 
Granted   2,177,500    0.13           
Forfeited and expired   (1,672,500)   0.86           
                     
Outstanding at June 30, 2019   2,743,000   $0.26    9 years   $79,200 
                     
Exercisable at June 30, 2019   1,991,750   $0.313    9 years   $79,200