Annual report pursuant to Section 13 and 15(d)

Warrant Liability (Tables)

v3.3.1.900
Warrant Liability (Tables)
 12 Months Ended
Dec. 31, 2015
Schedule of Aggregate Fair Values, Warrants [Table Text Block]
    December 31,     December 31,  
    2015     2014  
Calculated aggregate value $ 2,327,195   $ 4,633,312  
Weighted average exercise price per share of warrant $ 3.72   $ 3.72  
Closing price per share of common stock $ 1.00   $ 1.55  
Weighted average volatility   83.6%     89.80%  
Weighted average remaining expected life (years)   5.11     6.11  
Weighted average risk-free interest rate   1.90     1.94  
Dividend yield   0%     0%