Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock Option Activity

A summary of stock option activity for the nine months ended September 30, 2015, is presented below:

	Number		Weighted
	of Shares		Average		Weighted
	Remaining		Exercise		Average		Aggregate
Subject to Exercise	Options		Price		Life (Years)		Value
Outstanding as of January 1, 2014
Granted – 2014		757,977	$	1.00		7.69		-
Forfeited – 2014		-		-		-		-
Exercised – 2014		-		-		-		-
Outstanding as of January 1, 2015		757,977	$	1.00		7.44		-
Granted – 2015		3,421,787		1.58		10.00		-
Forfeited – 2015		-		-		-		-
Exercised – 2015		-		-		-		-
Outstanding as of September 30, 2015		4,179,764	$	1.47		9.40		-

Schedule of Stock Option

Date Issued	Exercise Price		Number of Shares		Expiration date
September 2014	$	1.00		583,059	September 18, 2021
November 2014	$	1.00		174,918	November 3, 2024
August 2015	$	1.58		3,121,787	August 16, 2025
September 2015	$	1.58		300,000	September 18, 2025
Total options at September 30, 2015				4,179,764

Schedule of Assumptions Using Black-Scholes Option Pricing Model

The Company utilized the Black-Scholes option pricing model. The assumptions used for the nine months ended September 30, 2015 are as follows:

	September 30, 2015
Risk free interest rate		0.97%-1.07%
Expected life (in years)		6
Expected Volatility		113.08%-113.96%
Expected dividend yield		0%

Schedule of Non-Vested Options

A summary of the changes in the Company’s non-vested options during the nine months ended September 30, 2015, is as follows:

	Number of Non-vested Options		Weighted Average Fair Value at Grant Date		Intrinsic Value
Non-vested at January 1, 2014		-		-		-
Granted in 2014		757,977	$	0.73
Vested in 2014		256,508	$	0.73		-
Non-vested at January 1, 2015		501,469	$	0.73		-
Granted in 2015		3,421,787	$	1.33		-
Vested in nine months ended September 30, 2015		192,429	$	0.73		-
Non-vested at September 30, 2015		3,730,827	$	1.29		-
Exercisable at September 30, 2015		448,937	$	0.73		-
Outstanding at September 30, 2015		4,179,764	$	1.22		-

Schedule of Unrecognized Compensation Cost Related to Unvested Stock Options

As of September 30, 2015, total unrecognized compensation cost related to unvested stock options was $4,333,457. The cost is expected to be recognized over a weighted average period of 1.91 years.

2015		2016		2017		2018
$	724,254	$	2,299,586	$	988,703	$	320,914