Stockholders' Equity (Details Textual) - USD ($)
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1 Months Ended |
12 Months Ended |
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Jan. 06, 2015 |
Jan. 31, 2015 |
Oct. 17, 2014 |
Jul. 31, 2014 |
Apr. 30, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Jul. 31, 2015 |
Nov. 30, 2014 |
Dec. 31, 2013 |
IPO and Private Placement [Member] |
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Stockholders' Equity (Textual) |
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Warrants issued to purchase of common stock |
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6,975,000
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Number of shares sold |
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13,950,000
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Proceeds from sale of shares |
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$ 13,950,000
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Warrants outstanding, description |
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Each whole warrant is exercisable to acquire one share of the Company's common stock at a price of $2.00 per share at any time up to January 6, 2017, subject to the Company's right to accelerate the expiration time of the warrants if at any time the volume-weighted average trading price of its common stock is equal to or exceeds $3.00 per share for twenty (20) consecutive trading days.
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Proceeds from issuance, net |
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$ 12,953,484
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Offering expenses |
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996,516
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Incurred internal offering costs |
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$ 785,197
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IPO [Member] |
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Stockholders' Equity (Textual) |
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Price per sale of unit |
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$ 1.00
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Number of units sold |
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11,250,000
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Proceeds from sale of units |
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$ 11,250,000
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Number of options granted to agents |
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786,696
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Private Placement [Member] |
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Stockholders' Equity (Textual) |
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Price per sale of unit |
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$ 1.00
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Number of units sold |
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2,700,000
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Proceeds from sale of units |
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$ 2,700,000
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Common stock, shares authorized |
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75,000,000
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75,000,000
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Common stock, par value |
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$ 0.001
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$ 0.001
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Preferred stock, shares authorized |
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5,000,000
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5,000,000
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Preferred stock, par value |
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$ 0.001
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$ 0.001
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Conversion of of Series B Preferred into common stock |
5,400,000
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5,400,000
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Stock-based compensation |
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$ 396,850
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$ 305,018
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Stock options |
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3,724,083
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Proceeds from exercise of Agent options |
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$ 55,548
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Recognized options vest over period |
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4 years
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Net of issuance costs |
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$ 59,920
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Increase in number of shares after the issuance of options to employees and consultants |
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365,000
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Consultants [Member] |
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Stockholders' Equity (Textual) |
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Class of warrant or right issued |
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100,000
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Exercise Price 1.00 [Member] |
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Stockholders' Equity (Textual) |
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Option granted exercise price |
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$ 1.00
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Stock options |
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1,044,272
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Chief Executive Officer [Member] |
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Stockholders' Equity (Textual) |
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Class of warrant or right issued |
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797,075
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Class of warrant or right expiration term |
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10 years
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Fair value of warrant price per share |
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$ 0.21
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2011 Plan [Member] |
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Stockholders' Equity (Textual) |
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Equity incetive plan, description |
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In accordance with the rules of the TSX Venture Exchange regarding equity incentive plans, the number of shares that can be reserved for issuance under the 2011 Plan is equal to 20% of the Companys common stock outstanding at the completion of the offering.
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Common stock for future issuance |
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6,453,069
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3,460,134
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Stock Options [Member] |
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Stockholders' Equity (Textual) |
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Number of options granted/warrant |
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1,174,820
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2,536,935
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Weighted average exercise price |
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$ 1.01
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$ 0.52
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Weighted average fair value |
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$ 0.38
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Agent options exercised |
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(55,548)
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Warrant/Option issued to employees and consultants exercisable, shares |
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1,963,948
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453,437
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83,123
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Weighted average exercisable price |
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$ 0.34
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$ 0.17
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$ 0.05
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Weighted average remaining contractual term |
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7 years 1 month 2 days
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9 years 6 months 26 days
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Number of options cancelled |
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5,000
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91,095
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Vesting period description |
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Vesting over two to four years and have a term of ten years.
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Stock Options [Member] | Consultants [Member] |
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Stockholders' Equity (Textual) |
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Weighted average fair value |
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$ 0.52
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Weighted average exercisable price |
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0.73
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Stock Options [Member] | Employees [Member] |
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Stockholders' Equity (Textual) |
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Weighted average fair value |
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0.18
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Weighted average exercisable price |
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$ 0.26
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Stock Options [Member] | Maximum [Member] |
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Stockholders' Equity (Textual) |
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Weighted average fair value |
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$ 0.81
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Warrant weighted average exercise price |
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1.17
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Vesting period |
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10 years
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Stock Options [Member] | Minimum [Member] |
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Stockholders' Equity (Textual) |
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Weighted average fair value |
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0.69
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Warrant weighted average exercise price |
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$ 1.00
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Vesting period |
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4 years
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Stock Options [Member] | Employees and Consultants [Member] |
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Stockholders' Equity (Textual) |
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Warrant/Option issued to employees and consultants exercisable, shares |
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318,124
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2,616,041
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Weighted average exercisable price |
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$ 1.00
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Compensation Options [Member] |
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Stockholders' Equity (Textual) |
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Option granted exercise price |
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$ 1.00
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Number of options granted to agents |
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786,696
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Agent options exercised |
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55,548
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Proceeds from exercise of Agent options |
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$ 55,548
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Warrants outstanding, description |
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Each Compensation Option is exercisable for a unit consisting of one share of common stock and one-half of one common stock purchase warrant at an exercise price of $1.00 per unit. The Compensation Options expire on July 6, 2016. Each whole warrant issuable upon exercise of Compensation Options is exercisable to acquire one share of common stock at an exercise price of $2.00 per share at any time up to January 6, 2017, subject to the Company's right to accelerate the expiration time of the warrants if at any time the volume-weighted average trading price of its common stock is equal to or exceeds $3.00 per share for twenty (20) consecutive trading days.
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Warrant exercise price per share |
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$ 2.00
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Common Stock [Member] |
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Stockholders' Equity (Textual) |
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Number of shares issued |
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Agent options exercised |
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55,548
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Warrant [Member] |
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Stockholders' Equity (Textual) |
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Warrants issued to purchase of common stock |
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7,002,774
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Number of options granted/warrant |
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7,002,774
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918,021
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Weighted average exercise price |
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$ 2.00
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$ 0.27
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Weighted average fair value |
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$ 0.43
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Agent options exercised |
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Warrants outstanding, description |
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The warrants are exercisable through January 6, 2017 at a price of $2.00 per share. The warrants are subject to the Company's right to accelerate the expiration time of the warrants if at any time the volume-weighted average trading price of its common stock is equal to or exceeds $3.00 per share for twenty (20) consecutive trading days.
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Warrant exercise price per share |
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$ 0.26
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Warrants outstanding and exercisable to purchase |
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7,936,391
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Warrant/Option issued to employees and consultants exercisable, shares |
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7,936,391
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933,617
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15,596
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Weighted average exercisable price |
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$ 1.80
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$ 0.28
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$ 0.99
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Weighted average remaining contractual term |
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1 year 9 months 18 days
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8 years 7 months 21 days
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Class of warrant or right expiration term |
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5 years
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Fair value of warrant price per share |
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$ 0.24
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Number of options cancelled |
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Warrant [Member] | Chief Executive Officer [Member] |
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Stockholders' Equity (Textual) |
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Warrant exercise price per share |
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$ 0.26
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Amendment [Member] |
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Stockholders' Equity (Textual) |
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Authorized to issue and sale, shares |
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80,000,000
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Common stock, shares authorized |
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75,000,000
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Common stock, par value |
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$ 0.001
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Preferred stock, shares authorized |
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5,000,000
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Preferred stock, par value |
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$ 0.001
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Series B Preferred Stock [Member] |
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Stockholders' Equity (Textual) |
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Warrants issued to purchase of common stock |
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1.00
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Number of shares issued |
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2,700,000
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5,190,000
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Conversion of of Series B Preferred into common stock |
5,400,000
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420,000
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Agent options exercised |
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Proceeds from issuance, net |
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$ 210,000
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Net of issuance costs |
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$ 86,129
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Conversion rate description |
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The conversion rate of the Series B Preferred Stock into Common Stock at December 31, 2014, was 1:1.
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