Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

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

Schedule of Fair Value Assumptions Used in Valuing Stock Options

Option awards are valued based on the grant date fair value of the instruments, net of estimated forfeitures, using a Black-Scholes option pricing model with the following assumptions:

	Three Months Ended June 30,
	2017		2016
Volatility		49%		38% - 47%
Risk-free interest rate		2.04% - 2.26%		1.30% - 1.65%
Expected term		6.25 years		6.25 years

Schedule of Stock Option Activity

The following summarizes stock option activity for the three months ended March 31, 2017:

				Weighted		Weighted Average		Aggregate
	Number of			Average		Remaining		Intrinsic
	Options			Exercise Price		Contractual Life		Value
Outstanding at December 31, 2016		1,128,368		$	5.12		7.0	$	514,439
Granted		307,500			4.89
Exercised		-			-
Forfeited		(39,080	)		4.89
Outstanding at March 31, 2017		1,396,788		$	5.08		7.2	$	178,222
Exercisable at March 31, 2017		569,554		$	5.25		4.6	$	100,973