Annual report pursuant to Section 13 and 15(d)

Warrant Liability (Tables)

v3.3.0.814
Warrant Liability (Tables)
 12 Months Ended
Dec. 31, 2014
Schedule of Aggregate Fair Values, Warrants [Table Text Block]
    December 31,     December 31,  
    2014     2013  
             
Calculated aggregate value $ 4,633,312   $ 1,711,331  
             
Weighted average exercise price per share of warrant $ 3.72   $ 5.33  
             
Closing price per share of common stock $ 1.55   $ 1.45  
             
Weighted average volatility   89.80     88.94  
             
Weighted average remaining expected life (years)   6.11     5.62  
             
Weighted average risk-free interest rate   1.94     2.02  
             
Dividend yield   0%     0%