Annual report pursuant to Section 13 and 15(d)

Fair Value of assets and liabilities (Tables)

v2.4.0.8
Fair Value of assets and liabilities (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value of assets and liabilities  
Fair Value, Assets Measured on Recurring Basis

its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2013 and December 31, 2012:

 

 

 

Level 3

 

 

Total

December 31, 2013

 

 

 

 

 

 Derivative Instruments

 $

8,036,239

 

 $

8,036,239

December 31, 2012

 

 

 

 

 

 Derivative Instruments

 $

1,026,128

 

 $

1,026,128

Summarizes the changes in fair value

The following table summarizes the changes in fair value of the Company’s Level 3 financial instruments for the year ended December 31, 2013 and 2012.

 

 

 

December 31, 2013

 

 

December 31, 2012

 

 

 

 

 Beginning Balance

$

1,026,128

 

$

528,566

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

 

 

 

 

 

 

5,335,976

 

 

1,004,291

 Change in fair value

 

1,674,135

 

 

(506,728)

 Ending Balance

$

8,036,239

 

$

1,026,129