Loan Payable (Tables)

6 Months Ended

Jun. 30, 2015

Silicon Valley Bank Loan Agreement Warrant [Member]

Assumptions Used for Black-Scholes Option Pricing Model

We estimated the fair value of the warrant to be approximately $388,000 using the Black-Scholes option pricing model with the following assumptions:

Expected life (years)	10
Risk-free interest rate	1.9	%
Expected volatility	88.1	%
Expected dividend yield	0	%

Silicon Valley Bank [Member]

Summary of Changes in Carrying Value of Loan Payable

The following table is a summary of the changes in the carrying value of our loan payable to Silicon Valley Bank for the three months ended June 30, 2015:

	Silicon Valley Bank Loan
Carrying value of loan payable at 3/31/2015 (current and non-current)	$	4,456,155
Repayment of principal		(1,016,390	)
Accretion of discount		26,612
Carrying value of loan payable at 6/30/2015 (current)	$	3,466,377