v3.5.0.2
Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Assumptions Used

The following assumptions were used in calculations of the Black-Scholes model for the six months ended June 30, 2016 and 2015:

 

    For the Six Months Ended
June 30, 2016		     For the Six Months Ended
June 30, 2015		  
Annual dividend yield     - %     - %
Expected life (years)     0.10-2.75       -  
Risk-free interest rate     0.20-0.87 %     - %
Expected volatility     162-283 %     - %
Schedule of Embedded Derivative Liabilities Fair Value

The following table presents the embedded derivatives, the Company’s only financial assets measured and recorded at fair value on the Company’s Consolidated Balance Sheets, on a recurring basis and their level within the fair value hierarchy during the six months ended June 30, 2016:

 

Balance of embedded derivatives at June 30, 2016:      
Level 1   $ —  
Level 2     —  
Level 3     9,186,148  
Total   $ 9,186,148  
Schedule of Financial Instruments at Fair Value

The following table reconciles, for the period ended June 30, 2016, the beginning and ending balances for financial instruments that are recognized at fair value in the consolidated financial statements:

 

Balance of embedded derivatives at December 31, 2015   $ 11,185,625  
         
Decrease in fair value of derivatives     (1,736,777 )
Reductions in fair value due to repayments/redemptions     (253,087 )
Reductions in fair value due to principal conversions     (9,613 )
Balance at June 30, 2016   $ 9,186,148