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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Schedule of Common Stock Shares Issued

During the year ended December 31, 2015, we issued shares of common stock as follows:

  

 

 

Common Stock

 

 

 

 

 

 

 

Shares

 

 

Amount

 

Shares issued for vested restricted stock units

 

 

56,500

 

 

$

—

 

Shares issued for Employee Stock Purchase Plan options

 

 

130,421

 

 

 

110,066

 

 

 

 

186,921

 

 

$

110,066

 

 

During the year ended December 31, 2014, we issued shares of common stock as follows:

 

 

 

Common Stock

 

 

 

 

 

 

 

Shares

 

 

Amount

 

Sale of common stock and warrants, net of issuance costs

 

 

10,192,500

 

 

$

18,577,018

 

Note and accrued interest conversions

 

 

5,573,831

 

 

 

11,130,261

 

Common stock issued for services

 

 

20,408

 

 

 

50,000

 

 

 

 

15,786,739

 

 

$

29,757,279

 

 

Summary Of Warrant Activity

The following table summarizes the warrants issued and outstanding as of December 31, 2015:

 

Warrants Issued and Outstanding as of December 31, 2015

 

 

 

Date of

 

Exercise

 

 

Shares of

 

Description

 

Issuance

 

Expiration

 

Price

 

 

Common Stock

 

Exercisable warrants

 

 

 

 

 

 

 

 

 

 

 

 

Warrants

 

04/18/2014

 

04/01/2017

 

$

2.00

 

 

 

1,441,000

 

Warrant

 

05/07/2014

 

05/07/2017

 

$

2.65

 

 

 

200,000

 

Warrant

 

05/28/2014

 

10/31/2016

 

$

4.31

 

 

 

450,000

 

Warrants

 

09/24/2014

 

09/24/2019

 

$

2.50

 

 

 

9,000,000

 

Warrants

 

10/20/2014

 

10/20/2019

 

$

2.50

 

 

 

700,000

 

Total exercisable warrants

 

 

 

 

 

 

 

 

 

 

11,791,000

 

Contingent warrants

 

 

 

 

 

 

 

 

 

 

 

 

Warrants

 

05/28/2014

 

10/31/2018

 

$

4.31

 

 

 

1,200,000

 

Less warrants cancelled

 

 

 

 

 

 

 

 

 

 

(1,200,000

)

Total contingent warrants

 

 

 

 

 

 

 

 

 

 

—

 

Total warrants issued and outstanding

 

 

 

 

 

 

11,791,000

 

 

Summary of Stock Option Activity

Stock Options

The following table summarizes the stock option activity from January 1, 2014 through December 31, 2015:

 

 

 

Stock Options

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Exercise

 

Average

 

 

 

Number

 

 

Price Per

 

Exercise Price

 

  

 

of Shares

 

 

Share

 

Per Share

 

Outstanding at January 1, 2014

 

 

4,141,948

 

 

$2.00 — $3.25

 

$

2.48

 

Granted

 

 

1,305,000

 

 

$1.45 — $3.75

 

$

2.77

 

Canceled/Forfeited

 

 

(440,416

)

 

$2.05 — $2.10

 

$

2.09

 

Outstanding at December 31, 2014

 

 

5,006,532

 

 

$1.45 — $3.75

 

$

2.66

 

Granted

 

 

2,242,625

 

 

$0.78 — $1.46

 

$

0.83

 

Canceled/Forfeited

 

 

(1,305,249

)

 

$1.28 — $3.75

 

$

2.52

 

Outstanding at December 31, 2015

 

 

5,943,908

 

 

$0.78 — $3.75

 

$

2.04

 

 

Summary of Stock Option Outstanding

The following additional information applies to options outstanding at December 31, 2015:

 

Ranges of

Exercise

Prices

 

Outstanding at

December 31,

2015

 

 

Weighted-

Average

Remaining

Contractual

Life

 

 

Weighted-

Average

Exercise

Price

 

 

Exercisable at

December 31,

2015

 

 

Weighted-

Average

Exercise

Price

 

$0.78 - $3.75

 

 

5,943,908

 

 

 

6.8

 

 

$

2.04

 

 

 

3,643,718

 

 

$

2.44

 

 

The following additional information applies to options outstanding at December 31, 2014:

 

Ranges of

Exercise

Prices

 

Outstanding at

December 31,

2014

 

 

Weighted-

Average

Remaining

Contractual

Life

 

 

Weighted-

Average

Exercise

Price

 

 

Exercisable at

December 31,

2014

 

 

Weighted-

Average

Exercise

Price

 

$1.45 - $3.75

 

 

5,006,532

 

 

 

6.5

 

 

$

2.66

 

 

 

3,301,532

 

 

$

2.58

 

 

Schedule of Weighted-Average Estimated Value of Employee Stock Options Granted

The weighted-average estimated value of employee stock options granted during the years ended December 31, 2015 and 2014 were estimated using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:

 

 

 

Years Ended December 31,

 

 

 

2015

 

 

2014

 

Expected volatility

 

 

94

%

 

 

94

%

Risk-free interest rate

 

 

1.45

%

 

 

0.92

%

Expected dividends

 

 

0.00

%

 

 

0.00

%

Expected term in years

 

 

4.3

 

 

 

3.4