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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2016
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:
 
 
 
Number of
Options
 
 
Weighted Average 
Grant Date Fair
Value
 
 
Number of
Options
 
 
Weighted
Average Grant
Date Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-vested stock options at January 1
 
 
466,009
 
 
$
5.79
 
 
 
201,859
 
 
$
6.57
 
Granted
 
 
171,900
 
 
$
4.22
 
 
 
409,200
 
 
$
5.39
 
Vested
 
 
(290,141
)
 
$
5.67
 
 
 
(97,367
)
 
$
5.16
 
Exercised
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Forfeited/Expired/Exchanged
 
 
(12,485
)
 
$
6.17
 
 
 
(47,683
)
 
$
6.88
 
Non-vested stock options at December 31
 
 
335,283
 
 
$
5.09
 
 
 
466,009
 
 
$
5.79
 
Schedule Of Recognized Compensation Cost [Table Text Block]
The recognized compensation cost associated with the Plan is as follows:
 
 
 
2016
 
 
2015
 
Research and development
 
$
112,000
 
 
$
108,000
 
General and administrative
 
 
513,000
 
 
 
663,000
 
Effect on net loss
 
$
625,000
 
 
$
771,000
 
Effect on net loss per share
 
$
0.05
 
 
$
0.06
 
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, 2016:
 
 
 
 
 
 
Total Outstanding Warrants
 
Exercise Price
 
 
Warrants
 
 
Weighted
Average Exercise
Price
 
 
Life
(in years)
 
$
1.80
 
 
 
80,000
 
 
$
1.80
 
 
 
4.13
 
$
5.00
 
 
 
345,000
 
 
$
5.00
 
 
 
0.32
 
$
10.00
 
 
 
20,313
 
 
$
10.00
 
 
 
2.18
 
 
 
 
 
 
445,313
 
 
$
4.65
 
 
 
Equity Incentive Plan [Member]  
Schedule of Share-based Compensation, Activity [Table Text Block]
Activity under the Plan is as follows:
 
 
 
2016
 
 
2015
 
Reserved but unissued shares under the Plan, beginning of year
 
 
455,372
 
 
 
242,764
 
Increases in the number of authorized shares under the Plan
 
 
15,039
 
 
 
315,225
 
Grants of stock options
 
 
(171,900
)
 
 
(409,200
)
Stock option forfeitures
 
 
12,485
 
 
 
116,780
 
Exercise of stock options
 
 
-
 
 
 
212,837
 
Stock grants
 
 
(44,112
)
 
 
(23,034
)
Reserved but unissued shares under the Plan, end of year
 
 
266,884
 
 
 
455,372
Consultant Plan [Member]  
Schedule of Share-based Compensation, Activity [Table Text Block]
Activity under the Consultant Plan is as follows:
 
 
 
2016
 
 
2015
 
Reserved but unissued shares under the Consultant Plan at January 1
 
 
92,130
 
 
 
65,608
 
Increases in the number of authorized shares under the Consultant Plan
 
 
1,503
 
 
 
31,522
 
Stock grants
 
 
(10,000
)
 
 
(5,000
)
Reserved but unissued shares under the Consultant Plan at December 31
 
 
83,633
 
 
 
92,130
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:
 
 
 
 
 
 
 
 
2016 
 
 
 2015
 
 
 
 
 
 
 
Warrants
 
 
Weighted Average
Exercise Price
 
 
Warrants
 
 
Weighted Average
Exercise Price
 
Outstanding at January 1
 
 
564,272
 
 
$
4.14
 
 
 
564,272
 
 
$
4.14
 
Granted
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Exercised
 
 
(118,959
)
 
$
2.20
 
 
 
-
 
 
 
-
 
Forfeited/Expired
 
 
-
 
 
 
-
 
 
 
-
 
 
 
-
 
Outstanding at December 31
 
 
445,313
 
 
$
4.65
 
 
 
564,272
 
 
$
4.14
Employee Stock Option [Member]  
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: 
 
 
 
2016
 
 
2015
 
 
 
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
 
 
723,400
 
 
$
5.18
 
 
 
8.10
 
 
 
643,817
 
 
$
4.46
 
 
 
5.67
 
Granted
 
 
171,900
 
 
$
4.22
 
 
 
9.26
 
 
 
409,200
 
 
$
5.39
 
 
 
9.22
 
Exercised
 
 
-
 
 
 
-
 
 
 
-
 
 
 
(212,837
)
 
$
2.51
 
 
 
-
 
Forfeited/Expired/Exchanged
 
 
(12,485
)
 
$
6.17
 
 
 
-
 
 
 
(116,780
)
 
$
6.86
 
 
 
-
 
Outstanding at December 31
 
 
882,815
 
 
$
4.98
 
 
 
7.51
 
 
 
723,400
 
 
$
5.18
 
 
 
8.10
 
Exercisable at December 31
 
 
547,532
 
 
$
4.91
 
 
 
6.85
 
 
 
257,391
 
 
$
4.05
 
 
 
6.12
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule Of Employee Service Share Based Compensation Unrecognized Period Costs [Table Text Block]
At December 31, 2016, there was $675,000 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:
 
2017
 
$
352,000
 
2018
 
 
177,000
 
2019
 
 
120,000
 
2020
 
 
26,000
 
 
 
$
675,000
 
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
 
6.25
 years
Weighted average volatility
 
 
73
%
Forfeiture rate
 
 
12
%
Weighted average risk-free interest rate
 
 
1.56
%
Expected dividend rate
 
 
0
%  
 
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
 
 
0
%