Quarterly report pursuant to Section 13 or 15(d)

Derivatives (Details 1)

v3.7.0.1
Derivatives (Details 1) - Derivative warrants [Member] - $ / shares
 3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Summary of fair values of derivative warrants on basis of valuation model    
Market value of common stock on measurement date [1] $ 1.51 $ 0.88
Adjusted exercise price $ 2.34 $ 2.34
Risk free interest rate [2] 0.97% 0.85%
Warrant lives in years 2 years 2 years
Expected dividend yield [3]
Probability of stock offering in any period over 5 years [4]   100.00%
Offering price [5] $ 1.25 $ 1.25
Minimum [Member]    
Summary of fair values of derivative warrants on basis of valuation model    
Expected volatility [6] 71.00% 61.00%
Probability of stock offering in any period over 5 years [4] 0.00%  
Maximum [Member]    
Summary of fair values of derivative warrants on basis of valuation model    
Expected volatility [6] 74.00% 69.00%
Probability of stock offering in any period over 5 years [4] 100.00%  
[1] The market value of common stock at the above measurement dates is based on the Company's closing 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] Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future.
[4] Management determines the probability of future stock offering at each evaluation date.
[5] Represents the estimated offering price in future offerings as determined by management.
[6] The volatility was estimated using the historical volatilities of the Company's common stock traded in NYSE MKT market.