Series A Redeemable Convertible Preferred Stock (Details Narrative) - USD ($)
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|
12 Months Ended |
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Sep. 16, 2013 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Sep. 13, 2013 |
| Class of Stock [Line Items] |
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|
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| Series A redeemable convertible preferred stock, shares issued |
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900,000
|
900,000
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|
| Series A redeemable convertible preferred stock, par value (in dollars per share) |
|
$ 0.001
|
$ 0.001
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| Series A redeemable convertible preferred stock, purchase consideration (in millions) |
|
$ 9,000,000
|
$ 9,000,000
|
|
| Consecutive trading days, convertible debt threshold |
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60 days
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|
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| Minimum percentage of common stock price to conversion price to determine eligibility of conversion through 60 consecutive trading days |
|
250.00%
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|
|
| Threshold of stock price trigger, percentage |
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225.00%
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|
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| Daily trading volume |
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25.00%
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|
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| Consecutive days |
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20 days
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|
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| Preferred Stock, Financing Proceeds Threshold |
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$ 5,000,000
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|
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| Upon fundamental sale transaction holders can redeem |
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250.00%
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|
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| Upon certain triggering events holders can redeem |
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100.00%
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|
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| Basis spread on Series A redeemable convertible preferred stock dividend, percentage |
|
5.00%
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|
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| Series A redeemable convertible preferred stock dividend rate description |
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Holders of the Series A redeemable convertible preferred stock are entitled to receive quarterly dividends at the Prime Rate (Wall Street Journal Eastern Edition) plus 5% (up to a maximum amount of 10%)
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|
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| Series A redeemable convertible preferred stock dividend, minimum cash flow requirement |
|
$ 1,000,000
|
|
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| Shares issued for Series A redeemable convertible preferred stock dividends |
|
624,009
|
|
|
| Undistributed Series A redeemable convertible preferred stock dividends |
|
$ 195,904
|
188,805
|
|
| Share price (in dollars per share) |
|
|
|
$ 1.23
|
| Voting power |
|
7,317,073
|
|
|
| Percentage of accounts receivable |
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80.00%
|
|
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| Accounting treatment for temporary equity |
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The Company has classified the Series A redeemable convertible preferred stock as temporary equity in the financial statements as it is subject to redemption at the option of the holder under certain circumstances.
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|
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| Derivative instruments, fair value |
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$ 336,862
|
82,024
|
|
| Accretion deduction included as an adjustment to net loss attributable to common stockholders |
|
1,181,446
|
587,613
|
|
| Dividend deduction included as an adjustment to net loss attributable to common stockholders |
|
777,890
|
765,203
|
|
| Redeemable Convertible Preferred Stock, Redemption Price Upon Fundamental Sale, Value |
|
$ 22,500,000
|
|
|
| Redeemable Convertible Preferred Stock, Redemption Price Upon Fundamental Sale, Per Share Purchase Price |
|
$ 2.56
|
|
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| Interest and other income (loss) |
|
|
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| Class of Stock [Line Items] |
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|
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| Embedded Derivative, Loss on Embedded Derivative |
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$ 254,838
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|
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| Gain on derivative |
|
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$ 55,147
|
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| Series A redeemable convertible preferred stock |
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|
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| Class of Stock [Line Items] |
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|
|
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| Series A redeemable convertible preferred stock, shares issued |
900,000
|
|
|
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| Series A redeemable convertible preferred stock, par value (in dollars per share) |
$ 0.001
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|
|
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| Series A redeemable convertible preferred stock price per share (in dollars per share) |
$ 10
|
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|
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| Series A redeemable convertible preferred stock, purchase consideration (in millions) |
$ 9,000,000
|
|
|
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| Series A redeemable convertible preferred stock conversion price |
$ 1.02488
|
|
|
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| Net proceeds from issuance of Series A redeemable convertible preferred stock |
$ 8,700,000
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| Series A redeemable convertible preferred stock | Prime rate |
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| Class of Stock [Line Items] |
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| Series A redeemable convertible preferred stock, basis spread on dividend rate, conditional percentage |
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10.00%
|
|
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| Basis spread on Series A redeemable convertible preferred stock dividend, percentage |
|
5.00%
|
|
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| Increase of dividend rate each six months stock remains unredeemed |
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1.00%
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| Maximum | Prime rate |
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| Class of Stock [Line Items] |
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| Maximum dividend rate |
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10.00%
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| Maximum | Series A redeemable convertible preferred stock | Prime rate |
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| Class of Stock [Line Items] |
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| Maximum dividend rate |
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19.00%
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