Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

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

Schedule of Stock Option Awards and Restricted Stock Grants

A summary of stock option awards and restricted stock grants for the six-months ended June 30, 2018 is presented below:

	Stock Options					Restricted Stock Awards					Weighted Average
Equity Awards	Options Outstanding			Weighted Average Exercise Price		Non-vested Restricted Stock Outstanding			Weighted Average Grant Date Fair Value		Contractual Terms of Equity Awards (in years)
Equity awards outstanding at January 1, 2018		703,442		$	10.34		–		$	–
Equity awards granted		2,440,000		$	2.22		11,000		$	2.64
Vested and issued		–		$	–		(6,000	)	$	2.64
Equity awards forfeited, cancelled or expired		(113,701	)	$	40.23		–		$	–
Equity awards outstanding at June 30, 2018		3,029,741		$	4.48		5,000		$	2.61		9.6
Aggregate intrinsic value of outstanding awards at June 30, 2018	$	1,913,490				$	1,700
Equity awards exercisable at June 30, 2018		1,657,820		$	2.95							9.6
Aggregate intrinsic value of awards exercisable at June 30, 2018	$	983,522

Schedule of Assumptions Used to Determine Fair Value of Options Granted

The Company used the following assumptions for determining the fair value of options granted under the Black-Scholes option pricing model:

	Six Months Ended June 30,
	2018			2017
Risk-free interest rate		3.08	%		2.21	%
Expected volatility		100.0	%		90.4	%
Expected life (in years)		9.5 - 10.0			10.00
Expected forfeiture rate		–	%		–	%
Expected dividend yield		–	%		–	%