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Stock Options and Warrants (Tables)
 12 Months Ended
Dec. 31, 2015
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 and 2013. No options were granted in 2015.
 
2014
 
2013
Weighted average fair value of options granted
$
5.65

 
$
3.78

Expected dividend yield
—%
 
—%
Expected volatility
101.6
%
 
103.8
%
Risk—free interest rate
1.64
%
 
1.47
%
Expected life of options
5 years
 
5 years
Schedule of Stock Option Activity
The following table reflects stock option activity in 2015, 2014 and 2013.
 
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, 2013
440,800

 
 
 
$
42.25

 
2.26
Granted in 2013
10,000

 
$
24.75

 
$
24.75

 
4.87
Options exercised in 2013
(62,800
)
 
$13.95 - $23.55

 
$
16.15

 
 
Canceled in 2013
(10,000
)
 
$23.55 - $213.75

 
$
64.20

 
 
Options outstanding at December 31, 2013
378,000

 
 
 
$
33.15

 
1.46
Granted in 2014
1,600

 
$
35.85

 
$
35.85

 
3.87
Options exercised in 2014
(153,600
)
 
$13.95 - $34.50

 
$
23.35

 
 
Forfeited in 2014
(1,000
)
 
$
24.75

 
$
19.35

 
 
Canceled in 2014
(68,800
)
 
$15.00 - $213.75

 
$
72.30

 
 
Options outstanding at December 31, 2014
156,200

 
 
 
$
33.25

 
1.47
Options exercised in 2015
(81,600
)
 
$13.95-$27.15

 
 
 
 
Forfeited in 2015
(18,000
)
 
$13.95 -$127.95

 
 
 
 
Options outstanding at December 31, 2015
56,600

 
 
 
$
48.50

 
2.61