Warrants (Tables)

12 Months Ended

Dec. 31, 2015

Warrants and Rights Note Disclosure [Abstract]

Schedule of Warrant Activity

The following table summarizes our warrant activities for the period ended December 31, 2015:

			Weighted
	Common		Average
	Stock		Exercise
	Warrants		Price
Outstanding as of January 1, 2014		1,087,820	$	16.20
Issued		571,500		7.12
Expired		(4,000)		20.00
Outstanding at January 1, 2015		1,655,320	$	13.06
Issued		-		-
Expired		(376,754)		22.87
Outstanding at December 31, 2015		1,278,566	$	8.45

Schedule of Warrant Valuation Assumptions

The estimated fair value was derived using the lattice model with the following weighted-average assumptions:

	Year Ended
	December 31,
	2015			2014
Value of underlying common stock (per share)	$	2.80		$	3.03
Risk free interest rate		1.02	%		0.80	%
Expected term		4.08	years		5.00	years
Volatility		79	%		75	%
Dividend yield		0	%		0	%

Schedule of Warrants Activities Used In Derivative Liability

The following table summarizes our activities related to warrants accounted for as a derivative liability for the year ended December 31, 2015 and 2014:

	2015		2014
Balance at January 1,		1,171,692		600,192
Derivative warrants issued		-		571,500
Derivative warrants exercised		-		-
Expired		(46,573)		-
Balance at December 31,		1,125,119		1,171,692