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Derivative Liabilities (Tables) | 12 Months Ended
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Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Liabilities | In determining the fair value of the derivative liabilities, the Company used the Black-Scholes option pricing model at December 31, 2018 and 2017:
|  | December 31, 2018 |
Common stock issuable upon exercise of warrants |  |  | 1,129,121 |
Market value of common stock on measurement date |  | $ | 1.20 |
Exercise price |  | $ | 1.68 |
Risk free interest rate (1) |  |  | 2.46 – 2.63 | %
Expected life in years |  |  | 1.3 – 3.3 years |
Expected volatility (2) |  |  | 74% – 124 | %
Expected dividend yields (3) |  |  | 0 | %
|  | December 31, 2017 |
Common stock issuable upon exercise of warrants |  |  | 1,020,717 |
Market value of common stock on measurement date |  | $ | 5.79 |
Exercise price |  | $ | $7.70 to $7.00 |
Risk free interest rate (1) |  |  | 1.89 | %
Expected life in years |  |  | 2 years |
Expected volatility (2) |  |  | 70.69 | %
Expected dividend yields (3) |  |  | 0 | %
| (1) | The risk-free interest rate was determined by management using the applicable Treasury Bill as of the measurement date.
| (2) | The historical trading volatility was determined by calculating the volatility of the Company’s peers’ common stock.
| (3) | The Company does not expect to pay a dividend in the foreseeable future.
Schedule of Change in Derivative Liabilities | The following table shows the change in the Company’s derivative liabilities rollforward for the years ended December 31, 2018 and 2017:
|  | Amount |
Balance, December 31, 2016 |  |  | - |
Initial valuation of derivative liabilities of warrants |  |  | 2,718,554 |
Change in fair value of derivative liabilities |  |  | (861,302 | )
Balance, December 31, 2017 |  | $ | 1,857,252 |
Initial valuation of derivative liabilities upon issuance of warrants |  |  | 149,321 |
Cancellation of warrants |  |  | (1,253,140 | )
Change in fair value of derivative liabilities |  |  | (426,981 | )
Balance, December 31, 2018 |  |  | 326,452 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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