Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2016

Summary of Key Assumptions to Apply to Model

Key assumptions used to apply this model upon issuance were as follows:

	Weighted Average on Grant Date
Dividend yield		—
Expected volatility		84.79	%
Risk-free rate of return		1.41	%
Expected term (years)		6.13
Fair Value per share	$	3.61

Two Thousand Sixteen Employee Equity Compensation Plan [Member]

Schedule of Stock Option Activity

2016 Employee Equity Compensation Plan Stock option activity for the nine months ended September 30, 2016 was as follows:

	Shares			Weighted- Average Exercise Price (in dollars per share)		Weighted- Average Contractual Life (in years)		Aggregate Intrinsic Value
Options outstanding at December 31, 2015		—		$	—		—		—
Granted		1,955,800			5.03		10.0 years		—
Exercised		—			—		—		—
Forfeited / Cancelled		(63,000	)		5.00		—		—
Expired		—			—		—		—
Options outstanding at September 30, 2016		1,892,800		$	5.03		9.62 years	$	1,834,776

Time Based Restricted Stock [Member]

Schedule of Time-Based Restricted Stock Awards

Restricted stock award activity for the nine months ended September 30, 2016 is as follows:

	Time-Based Restricted Stock Awards
Non-vested awards outstanding at December 31, 2015		—
Awards granted		453,550
Awards vested		(48,750	)
Awards forfeited		(9,300	)
Non-vested awards outstanding at September 30, 2016		395,500