Quarterly report pursuant to Section 13 or 15(d)

Fair Value Derivative Instruments (Tables)

v2.4.0.8
Fair Value Derivative Instruments (Tables)
9 Months Ended
Sep. 30, 2014
Fair Value Derivative Instruments  
Fair Value Of Measurement Of Derivative Instruments

In accordance with FASB ASC 820, “Fair Value Measurements and Disclosures”, the following table represents the Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 and December 31, 2013:

 

 

 

Level 3

 

 

Total

September 30, 2014

 

 

 

 

 

 Derivative Instruments

 $

4,768,396

 

 $

4,768,396

December 31, 2013

 

 

 

 

 

 Derivative Instruments

 $

8,036,239

 

 $

8,036,239

 

Fair Value of Level 3 Derivative Instruments

The fair value of warrants was estimated on the date of grant using the Black-Scholes option-pricing model based on the following weighted average assumptions:

 

 

Nine Months Ended September 30,

 

2014

2013

Expected volatility

113.93% to 138.05%

114.68% to 194.14%

Expected dividends

0%

0%

Expected term

3 – 5 years

3 - 5 years

Risk free rate

.41% to .59%

.25% to .27%