Equity Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of the changes in outstanding stock

A summary of the changes in outstanding stock options under all equity incentive plans is as follows:

 

                 
    Shares  

Grant

Date

Fair Value

  

Weighted

Average

Price

  

Weighted

Average

Remaining
Contractual Term

(as of December 31, 2015)

Balance, December 31, 2013   1,660,000       8.10   7.3
Granted   500,000 $ 1.18   2.45   8.6
Forfeited or expired   (338,333)       8.10    
Balance, December 31, 2014   1,821,667       6.55   8.6
Non-exercisable   (1,256,667)       5.85   8.8
Outstanding and exercisable, December 31, 2014   565,000       8.10   8.3
                 
Balance, December 31, 2014   1,821,667       6.55   8.6
Forfeited or expired   (26,067)       8.10    
Balance, December 31, 2015   1,795,600       6.55   6.9
Non-exercisable   (878,933)       5.85   7.0
Outstanding and exercisable, December 31, 2015   916,667       8.10   6.5
Summary of compensation expense

Following is a summary of compensation expense recognized for the issuance of stock options and restricted stock grants for the years ended December 31, 2015 and 2014:

 

         
    2015   2014
Selling and marketing $ 39 $ 50
General and administrative   1,524   1,960
Research and development   -   50
Total $ 1,563 $ 2,060

 
Estimated fair values of stock options

The Company computed the estimated fair values of stock options using the Black-Scholes model. These values were calculated using the following assumptions:

 

     
    2014
Risk-free interest rate   1.91%
Expected Term   6.0 years
Expected price volatility   48.9%
Dividend yield   0%