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Stock Purchase Warrants (Tables)

9 Months Ended

Sep. 30, 2016

Stock Purchase Warrants [Abstract]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The assumptions used by the Company are summarized in the following table:

		September 30, 2016				December 31, 2015				Issuance Date
Closing stock price		$	1.72			$	2.29			$	1.75
Expected dividends			0	%			0	%			0	%
Expected volatility			90	%			85	%			95	%
Risk free interest rate			0.89	%			1.49	%			1.39	%
Expected life of warrant			3.04 years				3.79 years				5 years

Schedule Of Estimated Fair Value Of The Warrant Liability [Table Text Block]

The following table summarizes the estimated fair value of the warrant liability (in thousands) :

Balance at December 31, 2015		$	10,567
Change in fair value of warrant liability			(3,681)
Balance at September 30, 2016		$	6,886

Schedule Of Warrant Activity [Table Text Block]

A summary of warrant activity for the Company for the nine months ended September 30, 2016 and for the year ended December 31, 2015 is as follows:

		Number of			Weighted Average
		Warrants			Exercise Price

Balance at December 31, 2014			7,974,794		$	1.80
Granted			-		$	-
Exercised			(2,448)		$	1.60
Forfeited			(63,447)		$	1.79
Balance at December 31, 2015			7,908,899		$	1.79
Granted			-		$	-
Exercised			-		$	-
Forfeited			(50,000)		$	3.75
Balance at September 30, 2016			7,858,899		$	1.77

Schedule Of Warrant Outstanding and Exercisable [Table Text Block]

A summary of all outstanding and exercisable warrants as of September 30, 2016 is as follows:

									Weighted Average
Exercise Price			Warrants Outstanding			Warrants Exercisable			Remaining Contractual Life
$	1.60			311,834			311,834		1.07 years
$	1.75			7,029,808			7,029,808		3.03 years
$	2.22			517,257			517,257		0.16 years
$	1.77			7,858,899			7,858,899		2.76 years