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Stock Options and Warrants (Tables)
6 Months Ended
Jun. 30, 2016
Schedule of Stock Option Transactions

Stock option transactions during the six months ended June 30, 2016 were as follows:

 

    Six months ended June 30, 2016  
    Shares     Weighted-Average
Exercise Price
 
             
Outstanding at Beginning of Year     6,037,754     $ 0.96  
Granted     30,000       0.65  
Exercised     (89,690 )     0.10  
Forfeited or Canceled     (158,500 )     0.94  
Outstanding at End of Period     5,819,564       0.97  
                 
Options Exercisable at End of Period     5,767,439     $ 0.98  
                 
Weighted-Average Fair Value of Options Granted During the Period   $ 0.14          

Schedule of Stock Options Outstanding and Exercisable

Information with respect to stock options outstanding and exercisable as of June 30, 2016 is as follows:

 

      Options Outstanding     Options Exercisable  
Range of
Exercise
Prices
    Number
Outstanding at
June 30, 2016
    Weighted-
Average
Remaining
Contractual
Life
    Weighted-
Average
Exercise
Price
    Number
Exercisable at
June 30, 2016
    Weighted-
Average
Exercise
Price
 
$ 0.10 - $1.75       5,819,564       6.5     $ 0.97       5,767,439     $ 0.98  

Schedule of Black-Scholes Option-Pricing Model

The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used for options granted:

 

    2016  
Expected Life     6.25 yrs  
Dividend Yield     0 %
Expected Volatility     18.07 %
Risk-Free Interest Rate     2.18 %

Warrant [Member]  
Schedule of Warrant Transactions

Warrant transactions during the six months ended June 30, 2016 were as follows:

 

Outstanding at December 31, 2015     7,417,302  
Granted     1,484,999  
Exercised     (624,286 )
Forfeited or Canceled     (824,999 )
Warrants Redeemable at June 30, 2016     7,453,016