Issuance of Common Stock, Warrants and Convertible Preferred Stock (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2017

Dec. 31, 2016

Schedule of Issuance of Convertible Preferred Stock

									Number of shares
	Shares		Shares Issued and		Net		Conversion		of common stock		Liquidation		Liquidation
	Authorized		Outstanding		Proceeds		Price/Share		Equivalents		Preference		Value/Share
Series A		3,000		50	$	49,426	$	4.50		11,111	$	125,000	$	2,500

The following table provides various information about the Series A convertible preferred stock.

Shares

Number of shares

Shares

Issued and

Net

Conversion

of common stock

Liquidation

Liquidation

Authorized

Outstanding

Proceeds

Price/Share

Equivalents

Preference

Value/Share

Series A convertible preferred stock

3,000

50

$

38,932

$

4.50

11,112

$

125,000

$

2,500

Schedule of Weighted-average Assumptions Used in Black-Scholes Valuation Method

The following weighted-average assumptions were used in the Black-Scholes valuation model for options granted during the three months ended March 31, 2017:

Risk-free interest rate	1.60	%
Expected term (in years)	7.25
Dividend yield	-
Expected volatility	75	%

Warrant [Member]

Schedule of Weighted-average Assumptions Used in Black-Scholes Valuation Method

Black-Scholes option-pricing model using the weighted-average assumptions below:

Volatility		75	%
Risk-free interest rate		1.50	%
Expected term (in years)		3.0
Expected dividend yield		-
Fair value of common stock	$	4.38

Volatility		75	%
Risk-free interest rate		1.03	%
Expected term (in years)		3.0
Expected dividend yield		-
Fair value of common stock	$	5.04

Summary of Warrant Activity

A summary of activity in warrants is as follows:

	Warrants			Weighted Average Remaining Life		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at December 31, 2016		846,765			2.77 years	$	6.48	$	—
Three months ended March 31, 2017:
Granted		192,308			3.00 years	$	7.50	$	0
Exercised		(40,834	)		2.00 years	$	3.90
Forfeited and cancelled		-			-		-		-
Outstanding at March 31, 2017		998,239			2.61 years	$	6.75	$	0

A summary of activity in warrants is as follows:

	Warrants			Weighted Average Remaining Life		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at December 31, 2015		—			—	$	—	$	—
Granted		1,435,639				$	6.18	$	-
Exercised		(483,773	)				3.90
Forfeited and cancelled		(105,101	)				6.00		-
Outstanding at December 31, 2016		846,765			2.77 years	$	6.48	$	-