Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.4.0.3
Stockholders' Equity (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Schedule of Warrants Outstanding [Table Text Block]
    March 31,     December 31,  
    2016     2015  
Issued to Investors on July 28, 2010, entitling the holders to purchase 1,034,996 common shares in the Company at an exercise price of $9.00 per common share up to and including July 27, 2017   1,034,996     1,034,996  
             
Issued to Investors on October 25, 2013, entitling the holders to purchase 1,250,000 common shares in the Company at an exercise price of $2.30 per common share up to and including April 24, 2021   1,117,178     1,117,178  
             
Issued to Investors on November 17, 2014, entitling the holders to purchase 2,734,590 common shares in the Company at an exercise price of $2.31 per common share up to and including May 16, 2022   2,734,590     2,734,590  
             
Total   4,886,764     4,886,764  
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
          Weighted     Weighted  
          Average     Average  
    Options     Exercise     Grant Date  
    Outstanding     Price     Fair Value  
Beginning of the period   5,236,909     3.70     4.06  
Granted   55,500     1.17     0.16  
Exercised   -     -     -  
Forfeited   -     -     -  
Expired   (240,000 )   23.85     24.87  
End of the period   5,052,409     2.72     2.13  
                   
Options exercisable   3,257,523     3.49     2.83  
          Weighted     Weighted  
          Average     Average  
    Options     Exercise     Grant Date  
    Outstanding     Price     Fair Value  
Beginning of the year   2,026,564     9.19     10.61  
Granted   3,491,419     1.08     0.74  
Exercised   -     -     -  
Forfeited   (114,407 )   6.63     6.06  
Expired   (166,667 )   13.50     12.84  
End of the year   5,236,909     3.70     4.06  
                   
Options exercisable   3,442,023     4.95     1.68  
Schedule of Non-Vested Shares, Activity [Table Text Block]
          Weighted-        
          Average Fair     Weighted  
          Value     Average  
    Shares     Grant Date     Exercise Price  
Non-vested Shares                  
Non-vested at January 1, 2015   462,307     1.71     2.55  
Granted   3,491,419     0.74     1.08  
Vested   (2,158,840 )   0.80     1.18  
Forfeited   -     -     -  
Non-vested - December 31, 2015   1,794,886     0.91     1.34  
                   
Granted   55,500     0.16     1.17  
Vested   (55,500 )   0.16     1.17  
Forfeited   -     -     -  
Non-vested - March 31, 2016   1,794,886     0.91     1.34  
 
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
  Stock Options Outstanding   Stock Options Vested
  Weighted           Weighted        
  Average           Average        
  Remaining       Weighted   Remaining       Weighted
  Contractual   Number   Average   Contractual   Number   Average
  Life   of   Exercise   Life   of   Exercise
  -Years   Awards   Price   -Years   Awards   Price
Exercise Prices                      
                       
$0.56 - $1.25 9.40   1,981,437   $0.93   9.25   1,222,227   $0.94
$1.26 -$2.55 7.71   2,027,789   $1.55   7.91   992,113   $1.51
$2.56 -$5.00 2.81   183,337   $4.50   2.81   183,337   $4.50
$5.01 -$10.00 3.04   543,337   $6.92   3.04   543,337   $6.92
$10.01 -$15.30 0.91   316,509   $13.07   0.91   316,509   $13.07
Total 7.27   5,052,409   $2.72   6.63   3,257,523   $3.49
  Stock Options Outstanding   Stock Options Vested
  Weighted           Weighted        
  Average           Average        
  Remaining       Weighted   Remaining       Weighted
  Contractual   Number   Average   Contractual   Number   Average
  Life   of   Exercise   Life   of   Exercise
  -Years   Awards   Price   -Years   Awards   Price
Exercise Prices                      
                       
$0.83 - $1.26 9.6   3,491,419   $1.08   9.6   1,965,629   $1.06
$2.55 - $5.00 3.3   645,644   $3.10   3.2   376,548   $3.50
$5.01 - $12.90 3.04   668,177   $7.59   3.04   668,177   $7.59
$13.50 -$18.90 0.63   191,669   $14.75   0.63   191,669   $14.75
$19.20 -$23.85 0.12   240,000   $23.85   0.12   240,000   $23.85
Total 7.21   5,236,909   $3.70   6.46   3,442,023   $4.95
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
  Three months ended   Year ended
  March 31,   December 31,
  2016   2015
       
Average risk-free interest rate 0.69%   1.64%
Average expected life- years 1.94   5.38
Expected volatility 84.54%   86.66%
Expected dividends $0.0   $0.0