Accounting for Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 2018

Accounting for Share-Based Payments

Schedule of stock based compensation expense

	Three months ended				Six months ended
	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
General and administrative	$	120,759	$	272,693	$	308,415	$	601,242
Research and development	32,005		536		61,736		226,459
Total stock based compensation expense	$	152,764	$	273,229	$	370,151	$	827,701

Summary of stock option activity and of changes in stock options outstanding under the Plan

	Number of Options		Exercise Price Per Share	Weighted Average Exercise Price Per Share		Intrinsic Value		Weighted Average Remaining Contractual Term
Balance outstanding, January 1, 2018	852,648		$0.88 - $35.04	$	11.87	$	47,667	7.00
Granted	—		$0.00 - $0.00	$	0.00
Exercised	—		$0.00 - $0.00	$	0.00
Forfeited	(417	)	$14.16 – $14.16	$	14.16
Balance outstanding, June 30, 2018	852,232		$0.88 - $35.04	$	11.89	$	23,833	6.52
Vested awards and those expected to vest at June 30, 2018	842,220		$0.88 – $35.04	$	11.85	$	10,010	6.51
Vested and exercisable at June 30, 2018	637,501		$0.88 - $35.04	$	11.89	$	10,010	6.52

Schedule of assumptions used to estimate fair value of stock option awards granted to employees

	Six Months Ended June 30, 2017
Stock price	$	4.72
Risk-free interest rate	1.86		%
Dividend yield	—
Expected volatility	79		%
Expected term (in years)	6 years