Annual report pursuant to Section 13 and 15(d)

Derivative liability (Tables)

v3.3.1.900
Derivative liability (Tables)
12 Months Ended
Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Components of Derivative Liabilities
The following tables summarize the components of derivative liabilities:
 
 
December 31, 2015
 
December 31, 2014
Fair value of derivative liability (3)
$
100,000

 
$
6,241,000

Significant assumptions (or ranges):
 

 
 

Trading market values  (1)
$
3.55

 
$
4.85

Term (years) (2)
58 days

 
1 year, 58 days

Expected volatility   (2)
67.0
%
 
26.8
%
Risk-free rate   (2)
0.05
%
 
0.32
%
Discount rate (3)
0.91
%
 
1.18
%
Effective Exercise price (2)
$
5.00

 
$
5.00

Trigger price (2)
$
6.25

 
$
6.25

Expected months until effective registration (3)
0

 
0

 
Fair value hierarchy:
 
(1)
Level 1 inputs are quoted prices in active markets for identical assets and liabilities, or derived therefrom.

(2)
Level 2 inputs are inputs other than quoted prices that are observable.

(3)
Level 3 inputs are unobservable inputs. Inputs for which any parts are level 3 inputs are classified as level 3 in their entirety.