Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.3.1.900
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]
In computing diluted loss per share, no effect has been given to the common shares issuable upon conversion or exercise of the following dilutive securities as the Company’s net loss would make the effect anti-dilutive.
 
 
 
Year Ended December 31,
 
 
 
2015
 
2014
 
Series A convertible preferred stock
 
 
-
 
 
625,895
 
Series B convertible preferred stock (including 525,004 shares from conversion of non-controlling interest)
 
 
-
 
 
1,262,651
 
Series C convertible preferred stock (including 187,183 shares from conversion of non-controlling interest)
 
 
-
 
 
537,233
 
Series D convertible preferred stock (including 358,146 shares from conversion of non-controlling interest)
 
 
-
 
 
2,145,810
 
Common stock warrants
 
 
1,807,203
 
 
18,176
 
Employee stock options
 
 
1,277,367
 
 
752,372
 
Total common shares issuable
 
 
3,084,570
 
 
5,342,137
 
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
The following table represents the fair value of the warrant liability measured at fair value on a recurring basis:
 
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
As of December 31, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
Warrant liability
 
$
-
 
$
-
 
$
303,102
 
$
303,102
 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following are the changes in the level 3 warrant liability for the year ended December 31, 2015:
 
Beginning balance at December 31, 2014
 
$
303,102
 
Settlement of warrant liability
 
 
(79,930)
 
Change in fair value
 
 
(223,172)
 
Ending balance at December 31, 2015
 
$
0