Stock-Based Compensation and Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2016

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

Summary of Stock Based Compensation

Compensation expense recognized for the issuance of warrants, stock options, restricted stock grants and stock bonuses for the three and six months ended June 30, 2016 and 2015 was as follows:

	Three Months Ended				Six Months Ended
	June 30, 2016		June 30, 2015		June 30, 2016		June 30, 2015
Stock-based compensation costs included in:
Cost of revenue	$	53,071	$	12,543	$	73,672	$	16,438
Sales and marketing expenses		51,545		18,938		82,833		31,061
Research and development expenses		44,443		21,706		74,464		39,141
General and administrative expenses		30,377		30,215		77,253		67,668
Total stock-based compensation expense	$	179,436	$	83,402	$	308,222	$	154,308

Schedule of Fair Values of Stock Options Granted and Assumptions used for Black-Scholes-Merton Option Pricing Model

The estimated fair values of stock options granted and assumptions used for the Black-Scholes option pricing model were as follows:

	Three Months Ended						Six Months Ended
	June 30, 2016			June 30, 2015			June 30, 2016			June 30, 2015
Estimated Fair Value	$	20,976		$	15,557		$	271,484		$	100,289
Shares Issuable Under Options Granted		6,668			6,200			106,273			37,200
Expected Term		3 Years			3 Years			3 Years			2 to 3 Years
Expected Dividend		0	%		0	%		0	%		0	%
Volatility		69% to 73	%		30	%		61% to 73	%		26% to 30	%
Risk Free Interest Rate		0.90% to 1.04	%		0.86% to 0.91	%		0.90% to 1.31	%		0.22% to 1.07	%

Summary of Stock Option Activity

The following is a summary of stock option activity for the three and six months ended June 30, 2016:

						Weighted
	Number of					Remaining
	Shares Issuable			Weighted Avg.		Contractual		Intrinsic
	Under Options			Exercise Price		Life (Years)		Value
Balance, December 31, 2015		249,951		$	19.80		3.95	$	-
Granted		99,605			6.07
Exercised		—			—
Forfeited or Expired		(31,295	)		12.15
Balance, March 31, 2016		318,261			16.35		3.70		121,741
Granted		6,668			6.78
Exercised		—			—
Forfeited or Expired		(34,549	)		16.18
Balance, June 30, 2016		290,380		$	16.08		3.82	$	82,897
Exercisable at June 30, 2016		183,955		$	19.78		3.52	$	27,741

Schedule of Information with Respect to Common Stock Options Outstanding and Exercisable

Information with respect to stock options outstanding and exercisable as of June 30, 2016:

	Stock Options Outstanding								Options Exercisable
Range of Exercise Price	Number Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Price		Aggregate Intrinsic Value		Number Exercisable		Weighted Average Price		Aggregate Intrinsic Value
$5.70 to $9.30		85,584		4.50	$	6.19	$	82,897		29,274	$	6.20	$	27,741
$10.50 to $20.25		77,770		4.05		12.72		—		32,751		12.90		—
$22.50 to $60.00		127,026		3.21		24.81		—		121,930		24.89		—
		290,380		3.82	$	16.08	$	82,897		183,955	$	19.78	$	27,741