Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.5.0.2
Stockholders' Equity (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2016
Dec. 31, 2015
Schedule of Warrants Outstanding [Table Text Block]
    June 30,     December 31,  
    2016     2015  

Issued to Investors on July 28, 2010, entitling the holders to purchase 207,000 common shares in the Company at an exercise price of $45.00 per common share up to and including July 27, 2017. These warrants are reported in the liability section of our balance sheet.

  207,000     207,000  

 

            

Issued to Investors on October 25, 2013, entitling the holders to purchase 250,000 common shares in the Company at an exercise price of $11.50 per common share up to and including April 24, 2021. These warrants are reported in the liability section of our balance sheet.

  223,436     223,436  

 

            

Issued to Investors on November 17, 2014, entitling the holders to purchase 546,919 common shares in the Company at an exercise price of $11.55 per common share up to and including May 16, 2022 - reclassified to equity on June 30, 2016, exercise price amended to $6.25 per common share. These warrants are reported in the equity section of our balance sheet on June 30, 2016 and in the liability section of our balance sheet on December 31, 2015.

  546,919     546,919  

 

            

Issued to an Investor on June 28, 2016, entitling the holders to purchase 295,267 common shares in the Company at an exercise price of $0.05 per common share up to and including June 27, 2021. These warrants are reported in the equity section of our balance sheet.

  295,267        
             

Total

   1,272,622     977,355  
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
          Weighted     Weighted  
          Average     Average  
    Options     Exercise     Grant Date  
    Outstanding     Price     Fair Value  
Beginning of the period   1,047,450   $ 18.50   $ 14.55  
Granted   465,887     4.69     2.96  
Exercised   -     -     -  
Forfeited   (50,334 )   117.27     121.83  
Expired   -     -     -  
End of the period   1,463,003   $ 10.70   $ 8.22  
                   
Options exercisable   757,383   $ 15.89   $ 12.63  
          Weighted     Weighted  
          Average     Average  
    Options     Exercise     Grant Date  
    Outstanding     Price     Fair Value  
Beginning of the year   405,344   $ 45.95   $ 53.05  
Granted   698,323     5.40     3.70  
Exercised   -     -     -  
Forfeited   (22,883 )   33.15     30.30  
Expired   (33,334 )   67.50     64.20  
End of the year   1,047,450   $ 18.50   $ 20.30  
                   
Options exercisable   688,452   $ 24.75   $ 8.40  
Schedule of Non-Vested Shares, Activity [Table Text Block]
          Weighted-        
          Average Fair     Weighted  
          Value     Average  
    Shares     Grant Date     Exercise Price  
Non-vested Shares                  
Non-vested at January 1, 2015   92,467   $ 8.55   $ 12.75  
Granted   698,323     3.70     5.40  
Vested   (431,789 )   4.00     5.90  
Forfeited   -     -     -  
Non-vested - December 31, 2015   359,001   $ 4.55   $ 6.70  
                   
Granted   465,887   $ 4.69   $ 2.96  
Vested   (119,268 )   4.25     7.64  
Forfeited   -     -     -  
Non-vested - June 30, 2016   705,620   $ 3.49   $ 5.14  
 
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]
    Stock Options Outstanding     Stock Options Vested  
    Weighted                 Weighted              
    Average                 Average              
    Remaining           Weighted     Remaining           Weighted  
    Contractual     Number     Average     Contractual     Number     Average  
    Life     of     Exercise     Life     of     Exercise  
    -Years     Awards     Price     -Years     Awards     Price  
Exercise Prices                                    
                                     
$2.05 -$4.60   9.39     814,630   $ 4.59     9.40     229,915   $ 4.57  
$4.65 -$6.30   8.24     349,580   $ 6.29     8.01     255,586   $ 6.29  
$6.35 -$25.00   2.76     129,141   $ 15.52     2.74     102,230   $ 16.25  
$25.00 -$50.00   2.79     108,677   $ 34.61     2.79     108,677   $ 34.61  
$50.01 -$75.00   0.69     60,975   $ 64.90     0.69     60,975   $ 64.90  
Total   7.67     1,463,003   $ 10.70     6.38     757,383   $ 15.89  
    Stock Options Outstanding     Stock Options Vested  
    Weighted                 Weighted              
    Average                 Average              
    Remaining           Weighted     Remaining           Weighted  
    Contractual     Number     Average     Contractual     Number     Average  
    Life     of     Exercise     Life     of     Exercise  
    -Years     Awards     Price     -Years     Awards     Price  
Exercise Prices                                    
                                     
$4.15 -$6.30   9.70     698,323   $ 5.38     9.58     393,145   $ 5.31  
$12.75 -$25.00   3.26     129,141   $ 15.52     3.20     75,321   $ 17.50  
$25.05 -$64.50   3.04     133,648   $ 37.93     3.04     133,648   $ 37.93  
$67.50 -$94.50   0.63     38,338   $ 73.77     0.63     38,338   $ 73.77  
$96.00 -$119.25   0.12     48,000   $ 119.25     0.12     48,000   $ 119.25  
Total   7.28     1,047,450   $ 18.50     6.46     688,452   $ 24.73  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
  Six months ended   Year ended
  June 30,   December 31,
  2016   2015
       
Average risk-free interest rate 0.70%   1.64%
Average expected life- years 1.86   5.38
Expected volatility 84.87%   86.66%
Expected dividends $0.0   $0.0