Annual report pursuant to Section 13 and 15(d)

Fair Value Derivative Instruments (Tables)

v2.4.1.9
Fair Value Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Derivative Instruments  
Fair Value Of Measurement Of Derivative Instruments (Tables)

Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 and December 31, 2013:

 

 

 

Level 3

 

 

Total

December 31, 2014

 

 

 

 

 

 Derivative Instruments

 $

0

 

 $

0

December 31, 2013

 

 

 

 

 

 Derivative Instruments

 $

8,036,239

 

 $

8,036,239

 

Fair Value of Level 3 Derivative Instruments (Tables)

The following table summarizes the changes in fair value of the Company’s Level 3 financial instruments for the year ended December 31, 2014 and 2013.

 

 

 

December 31, 2014

 

 

December 31, 2013

 

 

 

 

 Beginning Balance

$

8,036,239

 

$

1,026,128

 Initial recognition - Derivative liability of embedded conversion feature of the Convertible Notes

 

 

 

 

 

 

1,213,634

 

 

5,335,976

 Change in fair value

 

(8,418,982)

 

 

1,674,135

Reclassification to additional paid-in capital

 

(830,891)

 

 

-

 Ending Balance

$

-

 

$

8,036,239