Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Summary of Warrants Liability and Remeasured Liability to Estimated Fair Value

The Company has classified the warrants as a liability and has remeasured the liability to estimated fair value at December 31, 2017 and 2016, using the Black Scholes option valuation model with the following assumptions:  

	December 3l,
	2017	2016
Risk-free interest rate	2.09%	1.93%
Expected volatility	100.39%	94.19%
Expected term	4.08 years	5.08 years
Expected dividend yield	0.0%	0.0%

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2017:  

	Fair Value Measurement as of December 31, 2017
	Level 1		Level 2		Level 3		Balance
Warrant liability	$	-	$	-	$	3,701,277	$	3,701,277
Total	$	-	$	-	$	3,701,277	$	3,701,277

Summary of Reconciliation of Warrant Liability Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs

The following table presents a reconciliation of the Company’s warrant liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2017 and 2016:  

	December 31,
	2017			2016
Beginning balance of warrant liability	$	4,095,019		$	-
Issuance of warrants		-			4,899,459
Change in fair value upon re-measurement		1,005,349			(597,615	)
Reclassification to Additional Paid-in Capital    due to warrant amendment		-			(206,825	)
Reclassification to Additional Paid-in Capital    due to warrant exercise		(1,399,091	)		-
Ending balance of warrant liability	$	3,701,277		$	4,095,019