Quarterly report pursuant to Section 13 or 15(d)

Disclosure About Fair Value (Tables)

v3.2.0.727
Disclosure About Fair Value (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of Fair Value of Measured Assets and Liabilities

The following table provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets measured at fair value on a recurring basis using significant unobservable inputs:

 

    Fair Value Measurement Using  
          Quoted prices              
          in active     Significant        
          markets of     other     Significant  
          identical     observable     Unobservable  
    Recorded     assets     inputs     Inputs  
    value     (Level 1)     (Level 2)     (Level 3)  
June 30, 2015                                
Assets:                                
Available-for-sale securities   $ 35,362     $ 35,362     $ -     $ 35,362  
                                 
Liabilities:                                
Embedded conversion feature   $ 1,458,499     $ -     $ -     $ 1,458,499  
Warrants   $ 388,693                     $ 388,693  
December 31, 2014                                
Assets:                                
Available-for-sale securities   $ 35,362     $ 35,362     $ -     $ 35,362  
                                 
Liabilities:                                
Embedded conversion feature   $ 1,610,900     $ -     $ -     $ 1,610,900  
Warrants   $ 334,300     $ -     $ -     $ 334,300  

Summary of Changes in Fair Value

The following table provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets measured at fair value on a recurring basis using significant unobservable inputs:

 

 

          Conversion        
    Warrants     Feature     Total  
                   
Balance at January 1, 2015   $ 334,300     $ 1,610,900     $ 1,945,200  
                         
Change in fair value of derivative liability     120,593       (691,500 )     (570,907 )
Amounts included in debt discount     -       778,900       778,900  
Reclassification of derivative liability to equity     (66,200 )     (239,801 )     (306,001 )
Balance at June 30, 2015   $ 388,693     $ 1,458,499     $ 1,847,192