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Stock Options and Warrants (Tables)
 12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Fair Value Assumptions
The following table sets forth the weighted average assumptions used in applying the Black Sholes option pricing model to the option grants in 2014, 2013 and 2012.
 
2014
 
2013
 
2012
Weighted average fair value of options granted
$
5.65

 
$
3.78

 
$
1.24

Expected dividend yield
—%
 
—%
 
—%
Expected volatility
101.6
%
 
103.8
%
 
109.4
%
Risk—free interest rate
1.64
%
 
1.47
%
 
0.67
%
Expected life of options
5 years
 
5 years
 
5 years
Schedule of Stock Option Activity
The following table reflects stock option activity in 2014, 2013 and 2012.
 
Approximate
number of
shares
 
Range of exercise
prices per share
 
Weighted
average exercise
price per share
 
Weighted
average remaining
contractual life (years)
Options outstanding at January 1, 2012
2,676,000

 
 
 
$
6.93

 
1.77
Granted in 2012
50,000

 
$
1.59

 
$
1.59

 
4.85
Canceled in 2012
(522,000
)
 
$ 4.71 - $26.22

 
$
12.84

 
 
Options outstanding at December 31, 2012
2,204,000

 
 
 
$
8.45

 
2.26
Granted in 2013
50,000

 
$
4.95

 
$
4.95

 
4.87
Options exercised in 2013
(314,000
)
 
$2.79 - $4.71

 
$
3.23

 
 
Canceled in 2013
(50,000
)
 
$4.71 - $42.75

 
$
12.84

 
 
Options outstanding at December 31, 2013
1,890,000

 
 
 
$
6.63

 
1.46
Granted in 2014
8,000

 
$
7.17

 
$
7.17

 
3.87
Options exercised in 2014
(768,000
)
 
$2.79 - $6.90

 
$
4.67

 
 
Forfeited in 2014
(5,000
)
 
$
4.95

 
$
3.87

 
 
Canceled in 2014
(344,000
)
 
$3.00 - $42.75

 
$
14.46

 
 
Options outstanding at December 31, 2014
781,000

 
 
 
$
6.65

 
1.47
Options exercisable at December 31, 2014
781,000

 
 
 
$
6.65

 
1.47