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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2015
Schedule of Share-based Compensation, Activity [Table Text Block]
A summary of the status of the Company’s non-vested stock options at December 31 and changes during the year is as follows:
 
 
 
2015
 
2014
 
 
 
 
 
 
Weighted
 
 
 
 
Weighted
 
 
 
Number of
Options
 
Average Grant
Date Fair Value
 
Number of
Options
 
Average Grant
Date Fair Value
 
Non-vested stock options at January 1
 
 
201,859
 
$
6.57
 
 
248,411
 
$
4.15
 
Granted
 
 
409,200
 
$
5.39
 
 
141,880
 
$
9.68
 
Vested
 
 
(97,367)
 
$
5.16
 
 
(156,240)
 
$
5.50
 
Exercised
 
 
-
 
 
-
 
 
(7,504)
 
$
4.88
 
Forfeited/Expired/Exchanged
 
 
(47,683)
 
$
6.88
 
 
(24,688)
 
$
7.36
 
Non-vested stock options at December 31
 
 
466,009
 
$
5.79
 
 
201,859
 
$
6.57
 
Schedule Of Recognized Compensation Cost [Table Text Block]
The recognized compensation cost associated with the Plan is as follows:
 
 
 
2015
 
2014
 
Research and development
 
$
108,000
 
$
99,000
 
General and administrative
 
 
663,000
 
 
240,000
 
Effect on net loss
 
$
771,000
 
$
339,000
 
Effect on net loss per share
 
$
0.06
 
$
0.04
 
Schedule Of Share Based Payment Award Warrants Valuation Assumptions [Table Text Block]
The following weighted-average assumptions were utilized for the calculations:
 
Expected life (in years)
 
5
 
Weighted average volatility
 
74
%
Weighted average risk-free interest rate
 
1.49
%
Expected dividend rate
 
-
 
Schedule Of Share Based Compensation Warrants Activity [Table Text Block]
The following table summarizes the number of warrants, the weighted average exercise price, and weighted average life (in years) by price for both total outstanding warrants and total exercisable warrants at December 31, 2015:
 
 
 
 
 
Total Outstanding Warrants
 
Exercise Price
 
 
Warrants
 
Weighted Average
Exercise Price
 
 
Life
(in years)
 
$
1.80
 
 
80,000
 
$
1.80
 
 
5.13
 
$
2.20
 
 
118,959
 
$
2.20
 
 
0.36
 
$
5.00
 
 
345,000
 
$
5.00
 
 
1.32
 
$
10.00
 
 
20,313
 
$
10.00
 
 
3.18
 
 
 
 
 
564,272
 
$
4.14
 
 
 
 
Equity Incentive Plan [Member]  
Schedule of Share-based Compensation, Activity [Table Text Block]
Activity under the Plan is as follows: 
 
 
 
2015
 
 
2014
 
Reserved but unissued shares under the Plan at January 1
 
 
242,764
 
 
249,736
 
Increases in the number of authorized shares under the Plan
 
 
315,225
 
 
85,705
 
Grants of stock options
 
 
(409,200)
 
 
(141,880)
 
Stock option forfeitures
 
 
116,780
 
 
24,688
 
Exercise of stock options
 
 
212,837
 
 
39,140
 
Stock grants
 
 
(23,034)
 
 
(14,625)
 
Stock grant forfeitures
 
 
-
 
 
-
 
Reserved but unissued shares under the Plan at December 31
 
 
455,372
 
 
242,764
 
Consultant Plan [Member]  
Schedule of Share-based Compensation, Activity [Table Text Block]
Activity under the Consultant Plan is as follows:
 
 
 
2015
 
2014
 
Reserved but unissued shares under the Consultant Plan at January 1
 
 
65,608
 
 
64,037
 
Increases in the number of authorized shares under the Consultant Plan
 
 
31,522
 
 
8,571
 
Stock grants
 
 
(5,000)
 
 
(7,000)
 
Stock grant forfeitures
 
 
-
 
 
-
 
Reserved but unissued shares under the Consultant Plan at December 31
 
 
92,130
 
 
65,608
 
Warrant [Member]  
Schedule Of Share Based Compensation Warrants Activity [Table Text Block]
A summary of the Company’s warrant activity and related information is as follows:
 
 
 
2015
 
2014
 
 
 
Warrants
 
Weighted
Average
Exercise Price
 
Warrants
 
Weighted
Average
Exercise Price
 
Outstanding at January 1
 
 
564,272
 
$
4.14
 
 
543,959
 
$
3.92
 
Granted
 
 
-
 
 
-
 
 
20,313
 
$
10.00
 
Exercised
 
 
-
 
 
-
 
 
-
 
 
-
 
Forfeited/Expired
 
 
-
 
 
-
 
 
-
 
 
-
 
Outstanding at December 31
 
 
564,272
 
$
4.14
 
 
564,272
 
$
4.14
 
Employee Stock Option [Member]  
Schedule Of Share Based Payment Award Warrants Valuation Assumptions [Table Text Block]
The following weighted-average assumptions were utilized in the calculation of the fair value of the stock options:
 
Expected life
 
5.81 years
 
Weighted average volatility
 
72
%
Forfeiture rate
 
11
%
Weighted average risk-free interest rate
 
1.45
%
Expected dividend rate
 
-
 
 
The following weighted-average assumptions were utilized in the calculation of the fair value of the stock options:
  
Expected life
 
6.25 years
 
Weighted average volatility
 
74
%
Forfeiture rate
 
13
%
Weighted average risk-free interest rate
 
1.93
%
Expected dividend rate
 
-
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the Company’s stock option activity and related information is as follows:
 
 
 
2015
 
2014
 
 
 
Options to
Purchase
Common
Stock
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual Life
(in years)
 
Options to
Purchase
Common
Stock
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual Life
(in years)
 
Outstanding at January 1
 
 
643,817
 
$
4.46
 
 
5.67
 
 
565,765
 
$
3.19
 
 
8.21
 
Granted
 
 
409,200
 
$
5.39
 
 
9.22
 
 
141,880
 
$
9.68
 
 
7.70
 
Exercised
 
 
(212,837)
 
$
2.51
 
 
-
 
 
(39,140)
 
$
3.11
 
 
-
 
Forfeited/Expired/Exchanged
 
 
(116,780)
 
$
6.86
 
 
-
 
 
(24,688)
 
$
7.36
 
 
-
 
Outstanding at December 31
 
 
723,400
 
$
5.18
 
 
8.10
 
 
643,817
 
$
4.46
 
 
5.67
 
Exercisable at December 31
 
 
257,391
 
$
4.05
 
 
6.12
 
 
441,958
 
$
3.50
 
 
4.47
 
Schedule Of Employee Service Share Based Compensation Unrecognized Period Costs [Table Text Block]
At December 31, 2015, there was $910,000 of total unrecognized compensation cost related to non-vested stock option-based compensation arrangements granted under the Plan. That cost is expected to be recognized in future years as follows:
 
2016
 
$
553,000
 
2017
 
 
260,000
 
2018
 
 
79,000
 
2019
 
 
18,000
 
 
 
$
910,000