Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Deferred Tax Assets

Significant components of the Company’s deferred tax assets as of December 31, 2015 and 2014 are summarized below.

	December 31,
	2015			2014
Start-up and organization costs	$	42,000		$	49,000
Research credits		181,000			139,000
Contingent liability		—			31,000
Stock-based compensation		938,000			952,000
Net operating loss carryforwards		4,528,000			3,532,000
Total deferred tax assets		5,689,000			4,703,000
Valuation allowance		(5,689,000	)		(4,703,000	)
Net deferred tax assets	$	—		$	—

Schedule of Effective Income Tax Rate

Reconciled below is the difference between the income tax rate computed by applying the U.S. federal statutory rate and the effective tax rate for the years ended December 31, 2015 and 2014.

	Years Ended December 31,
	2015			2014
U. S. federal statutory tax rate		(34.0	)%		(34.0	)%
Non-deductible stock-based compensation		—	%		0.5	%
Non-deductible fair value of warrant extensions		0.4	%		3.6	%
Non-deductible fair value of warrant discounts		2.0	%		1.6	%
Expirations related to stock-based compensation		3.3	%		5.0	%
Adjustment to deferred tax asset		—	%		(1.0	)%
Change in valuation allowance		28.3	%		24.3	%
Effective tax rate		0.0	%		0.0	%