Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2016

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

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of each option was estimated on the date of grant using the Black-Scholes model that used the following assumptions:

Expected dividend yield		0	%
Risk-free interest rate		1.5	%
Expected option term		6 years
Volatility		88.3	%
Weighted-average fair value	$	2.66

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

Stock option awards as of September 30, 2016, and changes during the nine months ended September 30, 2016 were as follows:

					Weighted
					Average
			Weighted		Remaining
			Average		Contractual
			Exercise		Term		Aggregate
	Options		Price		(Years)		Intrinsic Value
Outstanding, beginning of period		33,336	$	5.40
Granted		567,972		4.12
Exercised		-		-
Forfeited		-		-
Outstanding, end of period		601,308	$	4.19		9.76	$	-
Exercisable, end of period		133,555	$	4.12		9.73	$	-