Quarterly report pursuant to sections 13 or 15(d)

14. Fair Value Disclosures (Tables)

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14. Fair Value Disclosures (Tables)
3 Months Ended
Mar. 31, 2014
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 March 31, 2014                                
Non-current liabilities:                                
Derivative liability (see note 7)   $ -     $ 9,207,132     $ -     $ 9,207,132  
                                 
As of December 31, 2013                                
Non-current liabilities:                                
Derivative liability   $ -     $ 10,515,472     $ -     $ 10,515,472