Stockholders Deficit (Tables)

3 Months Ended

Mar. 31, 2017

A summary of the Plan’s stock option activity is as follows:

	Number of Shares			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Balance at December 31, 2016		1,161,705		$	3.35	7.7		$	36,887
Granted		300,500		1.81
Exercised		(13,116	)	2.67				$	47,025
Forfeited		(5,566	)		3.49
Expired/Cancelled		(1,599	)		6.79
Balance at March 31, 2017		1,441,924		$	3.03		7.9	$	5,934,530
Exercisable at March 31, 2017		674,270		$	3.40	6.5		$	2,577,267

Summary of Material Factors Incorporated in Black-Scholes Model In Estimating Fair Value of Options Granted

Black-Scholes assumptions used to calculate the fair value of this stock option grant were as follows:

Fair value of common stock	$	1.75
Risk-free interest rate		1.92%
Expected volatility		61.64%
Expected term	5.18 years
Expected dividend yield		0%

Summary of RSU Plans Activity

A summary of the Plan’s RSU activity is as follows:

	Restricted Stock Units (RSU)			Weighted- Average Grant Date Fair Value Per Share
Balance at December 31, 2016		355,499		$	2.41
Granted		10,000			1.75
Exercised		(109,000	)		2.44
Balance at March 31, 2017		256,499		$	2.38

Summary of Stock-Based Compensation

Stock-based compensation expense recorded in the condensed statements of operations for the three months ended March 31, 2017 and 2016 was as follows:

	Three Months Ended March 31,
	2017		2016
Selling, general and administrative	$	279,583	$	121,550
Research and development		88,361		37,734
Cost of revenue		28,702		10,764
	$	396,646	$	170,048