Annual report pursuant to Section 13 and 15(d)

Derivatives (Details 1)

v3.6.0.2
Derivatives (Details 1) - $ / shares
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Summary of fair values of derivative warrants on basis of valuation model    
Market value of common stock on measurement date [1] $ 0.88 $ 3.23
Adjusted exercise price $ 2.34 $ 2.48
Risk free interest rate [2] 0.85% 1.06%
Warrant lives in years 2 years 2 years
Expected volatility [3]   87.00%
Expected dividend yield [4]
Probability of stock offering in any period over 5 years [5] 100.00% 100.00%
Offering price [6] $ 1.25 $ 2.60
Minimum [Member]    
Summary of fair values of derivative warrants on basis of valuation model    
Expected volatility [3] 61.00%  
Maximum [Member]    
Summary of fair values of derivative warrants on basis of valuation model    
Expected volatility [3] 69.00%  
[1] The market value of common stock at the above measurement dates is based on the Company's trading price quoted on the NYSE MKT.
[2] The risk-free interest rate was determined by management using the Treasury Bill rate as of the respective measurement date.
[3] The volatility was estimated using the historical volatilities of the Company's common stock traded in NYSE MKT market.
[4] Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future.
[5] Management determines the probability of future stock offering at each evaluation date.
[6] Represents the estimated offering price in future offerings as determined by management.