Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

The following table summarizes the Company’s warrant activity for the year ended December 31, 2016:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value
Outstanding – December 31, 2015		45,314		$	66.72		3.5	$	-
Granted		468,750			6.80
Exercised		(343,750	)		2.00
Forfeited/Canceled/Expired		-			-
Outstanding – December 31, 2016		170,314		$	32.44		4.3	$	-

Exercisable – December 31, 2016		170,314		$	32.44		4.3	$	-

A summary of the changes in the Company’s unvested warrants is as follows:

	Number of Warrants			Weighted Average Grant Date Fair Value
Unvested – December 31, 2015		-		$	-
Granted		468,750			1.67
Vested		(468,750	)		(1.67	)
Forfeited/Canceled/Expired		-			-
Unvested – December 31, 2016		-		$	-

The following table summarizes the Company’s stock option activity for the year ended December 31, 2016:

	Number of Options			Weighted Average Exercise Price			Weighted Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value
Outstanding - December 31, 2015		19,653		$	30.00			8.0	$	-
Granted		57,500			8.19
Exercised		-			-
Forfeited or Canceled		(7,203	)		(30.11	)
Outstanding – December 31, 2016		69,950		$	12.07			9.0	$	156,975

Exercisable – December 31, 2016		29,430			15.96			8.1	$	52,326

A summary of restricted stock activity for the year ended December 31, 2016 is as follows:

These options had a fair value of $230,575, using the Black-Scholes option-pricing model with the following assumptions:

These options had a grant date fair value of $61,443 using the Black-Sholes option-pricing model with the following assumptions: