Quarterly report pursuant to Section 13 or 15(d)

Derivative liability (Tables)

v3.3.0.814
Derivative liability (Tables)
 9 Months Ended
Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Inputs and Assumptions Used in Valuing Derivative Liabilities
The following tables summarize the inputs and assumptions used in valuing derivative liabilities:
 
 
September 30, 
 2015
 
December 31, 
 2014
 
 
 
 
Fair value of derivative liability (3)
$
2,324,000

 
$
6,241,000

 
 
 
 
Significant assumptions (or ranges):
 

 
 

Trading market values  (1)
$
3.55

 
$
4.85

Term (years) (2)
4 months, 27 days
 
1 year, 58 days

Expected volatility   (1)
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

 
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.