Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.3.1.900
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]  
Schedule of weighted-average Black-Scholes assumptions

 

    For the Years Ended
December 31,
    2015   2014
Expected life   2 years   6 years
Risk free interest rate   0.71%   2.37%
Expected volatility   80%   80%
Expected dividend yield   0%   0%
Forfeiture rate   0%   0%
Schedule of antidilutive securities excluded from computation of earnings per share

    December 31,     December 31,*  
    2015     2014  
Options     3,724,083       2,609,811  
Warrants     7,936,391       933,617  

Series B Preferred Stock

    -       5,400,000  
Totals     11,660,474       8,943,428  

 

* December 31, 2014, excludes the impact of Put agreements, which subscribed Series B shareholders of the Company to purchase additional shares and warrants contingent upon, and concurrently with, completion of the IPO (see Note 10).