Quarterly report pursuant to Section 13 or 15(d)

Loss Per Share - Schedule of Comparison of Basic and Fully Diluted Net Loss Per Share (Details)

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Loss Per Share - Schedule of Comparison of Basic and Fully Diluted Net Loss Per Share (Details) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Earnings Per Share [Abstract]        
Net loss - as reported $ (5,129,318) $ (1,928,722) $ (10,389,113) $ (3,940,337)
Series A Convertible Preferred Stock dividends Undeclared and accumulated dividends [1] (52,299) (130,010)
Series A-1 Convertible Preferred Stock undeclared and accumulated dividends [2] $ (6,196) $ (6,196)
Deemed dividend Series A-1 Convertible Preferred Stock [3] (182,500)   (182,500)
Net loss attributable to common stockholders [4] $ (5,370,313) $ (1,928,722) $ (10,707,819) $ (3,940,337)
Weighted-average common shares outstanding 13,332,629 13,310,000 13,331,585 12,855,714
Net loss - as reported [5] $ (0.40) $ (0.14) $ (0.80) $ (0.31)
Net loss attributable to common stockholders [5] $ (0.40) $ (0.14) $ (0.80) $ (0.31)
[1] On July 3, 2017, 2,660,000 Series S Warrants were issued in connection with the $5.0 million Senior Secured Notes Payable. While the Series S Warrants are exercisable for shares of common stock, if they had been outstanding at June 30, 2017, they would have been excluded from the computation of diluted weighted average shares outstanding, as their inclusion would be anti-dilutive. See Note 14, Subsequent Events, for a discussion of the July 3, 2017 issuance the $5.0 million Senior Secured Promissory Notes and Series S Warrants.
[2] The 422,838 Series A Warrants and the 125,000 Series A-1 Warrants, may be exchanged, at the option of the holder, for Series X Warrants on a four-to-one basis under the terms of their respective warrant agreements. The Series X Warrants are exercisable commencing on the first trading day following October 31, 2018 and may be exercised until April 30, 2024, or earlier upon redemption. Accordingly, the Series X Warrants, if issued, would not be exercisable at June 30, 2017, and as such, to the extent issued, would not be deemed common stock equivalents for purposes of determining diluted weighted average shares outstanding, as they are not exercisable for common stock at such date. As of June 30, 2017, there were no Series X Warrants issued and outstanding. Notwithstanding, the 422,838 Series A Warrants and the 125,000. Series A-1 Warrants issued and outstanding at June 30, 2017, if exchanged, would result in the issuance of a total of 2,191,352 Series X Warrants.
[3] The Series A-1 Preferred Stock Units cash proceeds allocated to the Series A-1 Convertible Preferred Stock resulted in an effective conversion price below the issue date fair value of the underlying shares of common stock, resulting in a $182,500 beneficial conversion feature, which was accounted for as an implied discount on the Series A-1 Convertible Preferred Stock. The Series A-1 Convertible Preferred Stock does not have a stated redemption date and was immediately convertible upon issuance, resulting in the full accretion of the beneficial conversion feature as a deemed dividend paid to the Series A-1 Convertible Preferred Stock on the Series A-1 Preferred Stock Units August 4, 2017 issue date.
[4] The holders of the Series A Warrants and the Series A-1 Warrants have the same rights to receive dividends as the holders of common stock. As such, the Series A Warrants and Series A-1 Warrants are considered participating securities under the two-class method of calculating net loss per share. The Company has incurred net losses to-date, and as the holders of the Series A Warrants and the Series A-1 Warrants are not contractually obligated to share in the losses, there is no impact on the Company's net loss per share calculation for the periods indicated.
[5] The 422,838 shares of Series A Convertible Preferred Stock, at the election of the holder, if-converted into a number of shares of common stock at a conversion ratio equal to its $6.00 per share stated value divided by a conversion price of $4.99 per share, with such conversion price subject to further reduction, would result in 508,422 incremental shares of newly-issued common stock at September 30, 2017.