Annual report pursuant to Section 13 and 15(d)

18. Fair Value Disclosures (Tables)

v3.6.0.2
18. Fair Value Disclosures (Tables)
12 Months Ended
Dec. 31, 2016
Abandonment of common stock, Amount  
Fair value of the liability measured at fair value on a recurring basis
    Level 1   Level 2   Level 3   Total
As of December 31, 2016                
Non-current liabilities:                
Derivative liability (see note 17)    -     348,650   348,650
As of December 31, 2015                
Non-current liabilities:                
Derivative liability (see note 17)    -    -   953,005   953,005
                 
Changes in the derivative liability
Balance at December 31, 2014    $           3,839,569
Gain for the period:    
  Included in net loss               (1,843,997)
  Modification of warrant contracts                  (678,400)
  Exercise of lenders' warrants                  (364,167)
Balance at December 31, 2015                    953,005
Gain for the period:    
  Included in net loss               (1,037,405)
  Adjustment for prior issuances and conversion of warrants                    433,050
Balance at December 31, 2016    $              348,650