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 Assumptions Used in Black-scholes Model to Warrants Issued

The Company values stock options using the Black-Scholes option pricing model. Assumptions used in the Black-Scholes model to value options issued during the years ended December 31, 2015 and 2014 are as follows:

 

    Year Ended     Year Ended  
    December 31, 2015     December 31, 2014  
             
Expected life in years     2.5 to 5.0       4.5 to 5.0  
Stock price volatility     84.36% - 98.54 %     83.9% - 84.1 %
Risk free interest rate     1.07% - 1.72 %     1.63% - 1.65 %
Expected dividends     NA       NA  
Forfeiture rate     32 %     21 %