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Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Summary of Stock Options Activity
The following table summarizes stock option activity for the Company during the three years ended December 31, 2015:
 
Options
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Contractual
Term
 
Aggregate
Intrinsic
Value
Outstanding December 31, 2012
10,581,194

 
$
1.16

 
 
 
 
Granted
862,287

 
$
2.67

 
 
 
 
Exercised
(829,702
)
 
$
0.92

 
 
 
 
Forfeited or expired
(147,084
)
 
$
1.81

 
 
 
 
Outstanding December 31, 2013
10,466,695

 
$
1.37

 
 
 
 
Granted
547,117

 
$
1.28

 
 
 
 
Exercised
(624,047
)
 
$
2.36

 
 
 
 
Forfeited or expired
(1,075,000
)
 
$
1.08

 
 
 
 
Outstanding December 31, 2014
9,314,765

 
$
1.33

 
 
 
 

Granted
1,843,000

 
$
0.54

 
 
 
 

Exercised
(50,000
)
 
$
0.27

 
 
 
 

Forfeited or expired
(387,861
)
 
$
1.76

 
 
 
 

Outstanding December 31, 2015
10,719,904

 
$
1.18

 
3.12
 
$

Vested or expected to vest at December 31, 2015
8,263,962

 


 

 


Summary of Carrying Value of Warrant Liability
The gain included in net loss is reflective of several changes in the assumptions used in the computation of fair value, including the decrease in the Company's stock price, during the years ended December 31, 2015, 2014 and 2013.
 
2015
 
2014
 
2013
Beginning Balance, January 1
$
597,719

 
$
1,064,810

 
$
2,852,880

Issuance of warrants and effect of repricing
4,286,314

 
62,683

 

Exercise of warrants

 

 
(1,145,659
)
(Gain) or loss included in earnings
(2,925,258
)
 
(529,774
)
 
(642,411
)
Transfers in and/or out of Level 3

 

 

Ending Balance December 31,
$
1,958,775

 
$
597,719

 
$
1,064,810