Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Rollforward of Level 3 Fair Value Measurements

The following table provides a rollforward of the Company’s Level 3 fair value measurements during the years ended December 31, 2017 and 2016:

	As of December 31,
	2017		2016
Beginning balance	$	—	$	709,504
Change in fair value of warrant liability		—		(460,289	)
Conversion of warrants		—		(249,215	)
Ending balance	$	—	$	—

Summary of Computation of Net Income or Loss Per Share

The following table presents the computation of net income or loss per share:

	For the Year Ended December 31,
	2017		2016			2015
Numerator:
Net income (loss)	$	1,141,255	$	3,733,707		$	(270,342	)
Accretion of dividends on preferred stock		—		(1,537,021	)		(2,444,954	)
Net income attributable to common stockholders - basic	$	1,141,255	$	2,196,686		$	(2,715,296	)
Accretion of dividends on preferred stock		—		125,205			—
Adjustment for change in fair value of warrant liability		—		(460,289	)		(85,325	)
Net income (loss) attributable to common stockholders - diluted	$	1,141,255	$	1,861,602		$	(2,800,621	)
Denominator:
Weighted average common shares outstanding
Basic		9,485,271		3,373,316			651,593
Diluted		10,361,373		4,667,503			651,593
Net income (loss) per share:
Basic	$	0.12	$	0.65		$	(4.17	)
Diluted	$	0.11	$	0.40		$	(4.30	)

Summary of Potentially Dilutive Securities

Potentially dilutive securities not included in the calculation of diluted net loss per share because to do so would be anti-dilutive are as follows (in common stock equivalent shares):

	For the Year Ended December 31,
	2017		2016		2015
Preferred redeemable convertible stock, including accumulated dividends		—		2,406,894		4,891,205
Employee stock options		513,869		—		756,692
Warrants outstanding		—		51,003		—
Series G preferred stock warrants outstanding		—		—		788,338
Total		513,869		2,457,897		6,436,235