XML 36 R23.htm IDEA: XBRL DOCUMENT v3.3.0.814
Fair Value Measurements (Details) - USD ($)
9 Months Ended 12 Months Ended
Sep. 30, 2015
Dec. 31, 2014
Liabilities:    
Common stock warrants $ 251,247 $ 296,048
Recurring | Level 3 | Warrants | Liabilities | Option pricing model    
Significant assumptions used in preparing the option pricing model for valuing the Company's warrants    
Volatility (as a percent) 75.00% 104.80%
Risk free interest rate (as a percent) 1.15% 1.68%
Life of treasury bonds 4 years 3 months 5 years
Strike price (in dollars per share) $ 6.00 $ 6.00
Fair value of stock (in dollars per share) $ 6.74 $ 6.14
Expected life 4 years 3 months 5 years
Recurring | Measured at fair value | Level 1    
Assets:    
Cash and cash equivalents $ 39,359,262 $ 40,135,102
Total assets at fair value 39,359,262 40,135,102
Recurring | Measured at fair value | Level 3    
Liabilities:    
Total liabilities at fair value 251,247 296,048
Recurring | Measured at fair value | Level 3 | Warrants    
Liabilities:    
Common stock warrants $ 251,247 $ 296,048