Stockholders’ Equity and Stock-Based Compensation (Details Narrative)
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1 Months Ended |
12 Months Ended |
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Nov. 09, 2016
$ / shares
shares
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Aug. 10, 2016
USD ($)
Integer
$ / shares
shares
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Oct. 26, 2017
$ / shares
shares
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Aug. 30, 2017
$ / shares
shares
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Jun. 30, 2016
$ / shares
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Jun. 28, 2016
USD ($)
$ / shares
shares
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Nov. 17, 2014
$ / shares
shares
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Oct. 25, 2013
$ / shares
shares
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Jul. 28, 2010
$ / shares
shares
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Dec. 31, 2017
USD ($)
$ / shares
shares
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Dec. 31, 2016
USD ($)
$ / shares
shares
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Aug. 23, 2017
shares
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Jul. 12, 2017
USD ($)
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Aug. 02, 2016
USD ($)
$ / shares
shares
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May 12, 2016
shares
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Jan. 08, 2016
USD ($)
$ / shares
shares
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Dec. 31, 2015
shares
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Sep. 04, 2015
shares
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Mar. 25, 2015
shares
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Reverse stock split |
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One for five
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Common Stock, Shares Authorized |
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100,000,000
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100,000,000
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Common Stock, Shares, Issued and Outstanding |
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12,737,703
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7,112,143
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Class of Warrant or Right, Outstanding |
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1,210,905
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1,713,172
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Stock options outstanding |
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3,976,884
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2,172,581
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1,047,450
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Options vested |
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2,434,148
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1,722,105
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Accumulated preferred stock dividend | $ |
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$ 276,578
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$ 80,578
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Stock based compensation | $ |
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$ 1,200,000
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$ 2,000,000
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Total stock and stock equivalents common shares |
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1,120,753
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1,049,354
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Total stock and stock equivalents outstanding |
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19,046,245
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12,047,250
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Volatility rate |
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91.00%
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Risk-free interest rate |
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1.00%
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Dividend yield |
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0.00%
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Expected term |
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5 years
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5 years 1 month 10 days
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Amortized amount | $ |
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$ 400,000
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Unamortized portion of deferred financing cost | $ |
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$ 1,500,000
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Preferred stock par value | $ / shares |
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$ 0.001
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$ 0.001
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Common Stock, Shares Issued |
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12,737,703
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7,112,143
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Proceeds from Issuance of Common Stock | $ |
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$ 6,027,064
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$ 6,135,804
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Number of options vested and expected to vest outstanding |
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2,434,148
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1,722,105
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Share based compensation | $ |
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$ 1,193,306
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$ 1,984,011
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Unrecognized compensation costs | $ |
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$ 1,700,000
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Weighted average recognition period |
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11 months 26 days
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Aggregate intrinsic value | $ |
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$ 300,000
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$ 0
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Description of Long-Term Non-Qualified Option Grants |
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In accordance with ASC 718, the market-based and performance-based long-term non-qualified option grants awards issued in 2017 were assigned a fair value of $0.80 per option share (total value of $0.9 million) on the date of grant using a Monte Carlo simulation. The following assumptions were used in the Monte-Carlo simulation model:
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Minimum [Member] |
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Volatility rate |
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87.50%
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Risk-free interest rate |
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2.24%
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Maximum [Member] |
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Volatility rate |
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91.00%
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Risk-free interest rate |
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2.42%
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Outstanding Warrants [Member] |
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Warrants to purchase common shares |
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500,000
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295,267
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546,919
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250,000
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207,000
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Exercise price | $ / shares |
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$ 0.01
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$ 0.05
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$ 11.55
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$ 11.50
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$ 45.00
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Warrants exchanged for common shares |
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59,450
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Reduced exercise price | $ / shares |
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$ 6.25
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$ 6.25
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Stock Options and Restricted Stock [Member] |
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Common Stock, Shares Authorized |
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800,000
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Increased authorized common shares |
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1,400,000
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Maximum purchase of Common Stock |
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300,000
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Purchase price percent |
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110.00%
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Stock Options and Restricted Stock [Member] | Plan [Member] |
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Common Stock, Shares Authorized |
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1,400,000
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2015 Equity Incentive Plan [Member] |
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Expected term |
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5 years
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3 years
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Non-qualified stock options |
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523,319
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31,425
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Contractual lives |
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10 years
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10 years
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Strike price | $ / shares |
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$ 1.05
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$ 1.08
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Fair market value of per option | $ / shares |
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$ 0.73
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$ 0.80
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Convertible Series A Preferred Shares |
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Preferred Stock, Shares Outstanding |
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1,020,000
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1,020,000
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Preferred stock, shares issued |
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1,020,000
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1,020,000
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Aspire Capital [Member] |
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Class of Warrant or Right, Outstanding |
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500,000
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Amortized amount | $ |
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$ 400,000
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$ 200,000
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Unamortized portion of deferred financing cost | $ |
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500,000
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Long term unamortized deferred financing cost | $ |
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500,000
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Strike price of warrants | $ / shares |
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$ 0.01
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Number of stock purchase agreements | Integer |
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2
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Term of agreement |
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3 years
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Maximum borrowing capacity under agreement | $ |
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$ 20,000,000
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Deferred financing cost and additional paid-in capital | $ |
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$ 1,700,000
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General International Holdings, Inc [Member] | Series A Preferred Stock [Member] |
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Common Stock, Shares, Issued and Outstanding |
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255,000
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Accumulated dividend | $ |
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$ 300,000
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$ 100,000
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Rate of dividend payable in kind |
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7.00%
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Number of shares reserved for future issuance |
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1,020,000
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Common stock shares reserved for future issuance, Value | $ |
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$ 2,800,000
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Conversion price | $ / shares |
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$ 2.75
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Discount per share | $ / shares |
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$ 0.57
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Discount on stock issuance | $ |
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$ 581,300
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Preferred stock shares issued, Value | $ |
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$ 3,381,300
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Average market price of common stock | $ / shares |
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$ 3.315
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Preferred stock par value | $ / shares |
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$ 0.001
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Aggregate intrinsic value | $ |
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$ 2,800,000
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Preferred stock, shares issued |
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1,020,000
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Preferred stock, liquidation preference per share | $ / shares |
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$ 2.75
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Preferred stock, liquidation preference | $ |
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$ 2,805,000
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Directors, Officers and Employees [Member] |
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Stock options granted |
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1,070,659
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Non-qualified stock options |
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3,213,029
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Lower Limit | $ / shares |
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$ 1.05
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Upper Limit | $ / shares |
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$ 43.25
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Directors, Officers and Employees [Member] | Minimum [Member] |
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Expected term |
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5 years
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Contractual lives |
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1 year 6 months
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Remaining contractual life |
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4 months 24 days
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Directors, Officers and Employees [Member] | Maximum [Member] |
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Expected term |
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10 years
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Contractual lives |
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9 years 9 months 18 days
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Remaining contractual life |
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9 years 9 months 18 days
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Directors, Officers and Employees [Member] | 2015 Equity Incentive Plan [Member] |
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Stock options outstanding |
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1,120,322
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Non-qualified stock options |
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1,299,533
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Description of option vesting |
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Accelerated 100% vesting
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Employees And Consultants [Member] | 2016 Short-Term Non-Qualified Option Grants [Member] |
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Expected term |
5 years
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Non-qualified stock options |
670,000
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Contractual lives |
10 years
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Strike price | $ / shares |
$ 1.54
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Fair market value of per option | $ / shares |
$ 1.05
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Advisory Board Members [Member] |
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Non-qualified stock options |
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74,890
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Contractual lives |
|
|
|
|
|
|
|
|
|
10 years
|
|
|
|
|
|
|
|
|
|
Lower Limit | $ / shares |
|
|
|
|
|
|
|
|
|
$ 1.08
|
|
|
|
|
|
|
|
|
|
Upper Limit | $ / shares |
|
|
|
|
|
|
|
|
|
$ 50.25
|
|
|
|
|
|
|
|
|
|
Consultants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-qualified stock options |
|
|
|
|
|
|
|
|
|
688,965
|
|
|
|
|
|
|
|
|
|
Lower Limit | $ / shares |
|
|
|
|
|
|
|
|
|
$ 1.05
|
|
|
|
|
|
|
|
|
|
Upper Limit | $ / shares |
|
|
|
|
|
|
|
|
|
$ 43.25
|
|
|
|
|
|
|
|
|
|
Consultants [Member] | Minimum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual lives |
|
|
|
|
|
|
|
|
|
3 years
|
|
|
|
|
|
|
|
|
|
Consultants [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual lives |
|
|
|
|
|
|
|
|
|
10 years
|
|
|
|
|
|
|
|
|
|
Equity Purchase Agreement Equity Line [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock, Shares Authorized |
|
|
|
|
|
|
|
|
|
|
|
1,853,960
|
|
|
|
|
|
|
|
Additional sale of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,000,000
|
|
|
|
|
Commitment to purchase of shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,000,000
|
|
Shareholder approval for transaction |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20.00%
|
|
Shares purchase per day |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,000
|
|
|
|
Purchase amount per day | $ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 250,000
|
|
|
|
Common stock traded on principal market |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30.00%
|
|
|
|
Purchase price percent |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
95.00%
|
|
|
|
Additional shares as compensation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60,000
|
|
|
|
Value of additional shares | $ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 276,000
|
|
|
|
Price per additional shares | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 4.60
|
|
|
|
Common stock sold, shares |
|
|
|
|
|
|
|
|
|
1,200,000
|
1,100,000
|
|
|
|
|
|
|
|
|
Proceeds from Issuance of Common Stock | $ |
|
|
|
|
|
|
|
|
|
$ 1,500,000
|
$ 2,700,000
|
|
|
|
|
|
|
|
|
Securities Purchase Agreement [Member] | Aspire Capital [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Warrant or Right, Outstanding |
|
|
|
|
|
295,267
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of the common stock and the warrants | $ |
|
|
|
|
|
$ 400,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares reserved for future issuance |
|
|
|
|
|
5,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock sold, shares |
|
|
|
|
|
371,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from the issuance of the warrants and common shares | $ |
|
|
|
|
|
$ 1,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Strike price of warrants | $ / shares |
|
|
|
|
|
$ 0.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Securities Purchase Agreement One [Member] | Aspire Capital [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock sold, shares |
|
|
|
|
|
600,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ATM Offering [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock, Shares Authorized |
|
|
|
|
|
|
|
|
|
|
5,800,000
|
|
|
|
|
|
|
|
|
Common stock sold, shares |
|
|
|
|
|
|
|
|
|
1,400,000
|
|
|
|
|
|
|
|
|
|
Common Stock, Shares Issued |
|
|
|
|
|
|
|
|
|
|
1,900,000
|
|
|
|
|
|
|
|
|
Proceeds from Issuance of Common Stock | $ |
|
|
|
|
|
|
|
|
|
|
$ 2,600,000
|
|
|
|
|
|
|
|
|
ATM Offering [Member] | FBR Capital Markets & Co [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of additional prospectus supplement filed | $ |
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,600,000
|
|
|
|
|
|
|
Amount raised under addtional prospectus supplement | $ |
|
|
|
|
|
|
|
|
|
$ 1,600,000
|
|
|
|
|
|
|
|
|
|
Long-Term Non-Qualified Option Grants [Member] | Employees And Consultants [Member] | 2015 Equity Incentive Plan [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options granted |
|
|
179,211
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contractual lives |
|
|
10 years
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Strike price | $ / shares |
|
|
$ 1.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of option vesting |
|
|
|
1. |
The
Companys closing stock price is above $3 per share by December 31, 2018 |
|
|
|
|
2. |
The
Company secures at least a $2 million investment from a commercial nuclear industry entity other than Framatome by December
31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of Long-Term Non-Qualified Option Grants |
|
|
All such long-term non-qualified stock options issued in excess of the 2.9 million shares authorized under the 2015 Equity Stock Plan (which total approximately 0.7 million out of the total approximate 1.3 million options granted) were issued contingent upon shareholder approval of an increase in the number of shares available under the 2015 Equity Stock Plan (with such number of contingent options to be granted is granted pro-rata among the grantees).
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|