Quarterly report pursuant to Section 13 or 15(d)

17. Fair Value Disclosures (Tables)

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17. Fair Value Disclosures (Tables)
9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Fair value of the liability measured at fair value on a recurring basis

 

    Level 1     Level 2     Level 3     Total  
As of September 30, 2016                        
Current liabilities:                        
Contingent liability (see note 11)   $ -     $ -     $ 100,000       100,000  
Non-current liabilities:                                
Contingent liability (see note 11)             -       861,606       861,606  
Derivative liability (see note 12)     -       -       233,934       233,934  
   Total non-current liabilities   $ 0     $ -     $ 1,095,540     $ 1,095,540  
As of December 31, 2015                                
Non-current liabilities:                                
Derivative liability (see note 12)   $ -     $ -     $ 953,005     $ 953,005  

 

Changes in the derivative liability

 

Balance at December 31, 2015   $ 953,005  
Gain for the period:        
  Included in net loss     (1,152,121 )
  Adjustment for prior issuances and conversion of warrants (see note 12)     433,050  
Balance at September 30, 2016   $ 233,934