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Options, Warrants, and Restricted Stock Units (Tables)

3 Months Ended

Mar. 31, 2017

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

Schedule of common stock options activity

There were no grants, exercises, or cancellations of the Company’s stock options for the three months ended March 31, 2017. The following table summarizes the Company’s stock options outstanding as of March 31, 2017.

Stock Options Outstanding as of March 31, 2017
Date of Grant		Exercise Price ($)		Expiration Date		Remaining Contractual Life (Years)		Number Outstanding		Number Exercisable
03/31/2014		8.00		03/31/2019		2.00		163,301		143,704
04/04/2014		8.69		04/04/2019		2.01		14,155		10,757
						Total		177,456		154,461

Schedule of restricted stock awards activity

The following table summarizes RSU activity for the three months ended March 31, 2017.

Restricted Stock Units		Number of Units				Weighted Average Grant Date Fair Value
Non-vested units, December 31, 2016			20,500			$	1.34
Granted			—				—
Vested			—				—
Forfeited			—				—
Non-vested units, March 31, 2017			20,500			$	1.34

Schedule of stock warrants issued, exercised and outstanding

There were no grants, exercises, or cancellations of the Company’s common stock warrants for the three months ended March 31, 2017. The following table summarizes the Company’s warrants outstanding as of March 31, 2017.

Date of Grant		Exercise Price ($)		Expiration Date		Remaining Contractual Life (Years)		Number Outstanding and Exercisable
03/31/2014		9.60		03/31/2019		2.00		312,500
03/31/2014		10.00		03/31/2019		2.00		94,375
02/24/2015		15.00		02/24/2022		4.91		1,500,000
						Total		1,906,875

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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