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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2016
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Assumptions Used to Value Warrant Liability |
|  | August 10, |  |  | June 30, |
|  | 2016 |  |  | 2016 |
Strike price |  | $ | 2.00 |  |  | $ | 2.00 |
Market price |  | $ | 6.08 |  |  | $ | 3.20 |
Expected life |  | 5 years |  |  | 5 years |
Risk-free interest rate |  |  | 1.07 | % |  |  | 1.01 | %
Dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Volatility |  |  | 100 | % |  |  | 100 | %
Summary of Changes in Fair Value of Level 3 Financial Liabilities |
Balance – January 1, 2016 |  | $ | - |
Initial value of derivative liability |  |  | 380,000 |
Change in fair value of derivative liability |  |  | 401,000 |
Reclassification of derivative liability to additional paid in capital |  |  | (781,000 | )
Balance – September 30, 2016 |  | $ | - |

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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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