Quarterly report pursuant to sections 13 or 15(d)

17. Fair Value Disclosures (Tables)

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17. Fair Value Disclosures (Tables)
9 Months Ended
Sep. 30, 2013
Fair Value Disclosures Tables  
Fair value of the liability measured at fair value on a recurring basis

The following table represents the fair value of the liability measured at fair value on a recurring basis:

 

    Level 1     Level 2     Level 3     Total  
As of September 30, 2013                        
Non-current liabilities:                        
Derivative liability (see note 7)   $ -     $ 1,798,875     $ -     $ 1,798,875  
                                 
As of December 31, 2012                                
Non-current liabilities:                                
Derivative liability   $ -     $ 1,066,000     $ -     $ 1,066,000