Quarterly report pursuant to Section 13 or 15(d)

Warrant Liability (Tables)

v3.4.0.3
Warrant Liability (Tables)
 3 Months Ended
Mar. 31, 2016
Schedule of Aggregate Fair Values, Warrants [Table Text Block]
    March 31,     December 31,  
    2016     2015  
Calculated aggregate value $ 1,073,341   $ 2,327,195  
Weighted average exercise price per share of warrant $ 3.72   $ 3.72  
Closing price per share of common stock $ 0.56   $ 1.00  
Weighted average volatility   86.8     83.6%  
Weighted average remaining expected life (years)   4.9     5.11  
Weighted average risk-free interest rate   1.4     1.90  
Dividend yield   0%     0%