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Stock-Based compensation (Tables)
 9 Months Ended
Sep. 30, 2016
Schedule Assumptions Used in Black-Scholes Option-pricing Method

The material factors incorporated in the Black-Scholes model in estimating the fair value of the options granted for the periods presented were as follows:

 

    Three Months Ended,     Nine Months Ended  
    September 30,     September 30,  
    2016     2015     2016     2015  
Expected dividend yield     0.00 %     (1)       0.00 %     0.00 %
Expected stock price volatility     53.60% - 54.73 %     (1)       53.60% - 59.03 %     51.45% - 67.08 %
Risk-free interest rate     1.29% - 1.71 %     (1)       1.29% - 1.78 %     0.77% - 2.07 %
Term of options     10       (1)       10       10  
Stock price     $1.27 - $1.68       (1)       $1.13 - $1.68       $5.86  

 

  (1) During the three months ended September 30, 2015, the Company had no unvested options for non-employees and no new options were granted to employees or non-employees during the period.
Schedule of Stock Options Grants to Company's Employees and Non-Employees

Information regarding the Company’s stock option grants to the Company’s employees and non-employees, along with the estimated fair value per share of the underlying common stock, for stock options granted since 2005 is summarized as follows:

 

Grant Date   Number of Common
Shares Underlying
Options Granted		     Exercise Price per
Common Share		     Estimated Fair
Value per Share of
Common Stock		     Intrinsic Value Per
Option		  
2005     58,321     $ 0.07     $ 1.79     $ 1.72  
2009     60,559     $ 0.72 - $0.79     $ 4.43     $ 3.71 - $3.64  
2011     33,846     $ 1.03     $ 1.00     $ 0.00  
2012     60,019     $ 1.14     $ 1.14     $ 0.00  
2013     100,000     $ 1.14 - $1.30     $ 1.14     $ 0.00  
2014     1,626,740     $ 5.86 - $13.23     $ 5.86     $ 0.00  
2015     34,000     $ 2.25     $ 2.25     $ 0.00  
2016     273,000     $ 1.39 - $1.54     $ 1.39 - $1.54     $ 1.68  
Summary of Options Granted to Employees and Non-employees

The following represents a summary of the options granted to employees and non-employees that are outstanding at September 30, 2016 and changes during the period then ended:

 

    Options     Weighted Average
Exercise Price		  
Outstanding at December 31, 2015     1,938,534     $ 7.081  
Granted     273,000       1.525  
Exercised/Expired/Forfeited     (25,908 )     1.131  
Outstanding at September 30, 2016     2,185,626     $ 6.457  
Exercisable at September 30, 2016     999,446     $ 5.606  
Expected to be vested     1,186,180     $ 7.175  
Option Pricing Method [Member]  
Schedule Assumptions Used in Black-Scholes Option-pricing Method

The following inputs were applied in the Black-Scholes calculations of the OPM:

 

    Valuation Dates  
    November 7, 2013     July 31, 2012     December 31, 2010  
Risk-free rate     0.55 %     0.57 %     2.01 %
Maturity (years)     3.00       4.00       5.00  
Volatility     58.00 %     61.00 %     61.00 %