Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Assets and Liabilities (Tables)

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

The Company had valued certain warrants as a derivative liability at June 30, 2014 and used the Black-Scholes option pricing model to estimate fair value at June 30, 2014 and used the contractual life according to the remaining terms of the warrants and the following assumptions:

 

     As of June 30,
2014
 

Risk free interest rate

     1.25

Expected dividend yield

     0

Contractual term

     3.97   

Expected volatility

     66
Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

 

     June 30, 2014  
     Level 1      Level 2      Level 3      Total  

Liabilities:

           

Derivative warrant liability at December 31, 2013

   $ —         $ —         $ 19,932       $ 19,932   

Change in fair value of the derivative warrant liability

     —           —           28,448         28,448   

Reclassification of derivative warrant liability

     —           —           (48,380      (48,380
  

 

 

    

 

 

    

 

 

    

 

 

 

Derivative warrant liability at June 30, 2014

   $ —         $ —         $ —         $ —