v2.4.0.8
Derivative Liabilities (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Summary of weighted-average assumptions of fair value calculations for warrants granted and subsequent revaluation
 
 
Year Ended
 
   
December 31,
2013
 
Expected dividend yield
   
0
%
Expected stock price volatility
   
70-172
%
Risk-free interest rate
   
.08–1.75
%
Expected life of warrants
 
.1-4.59 years
 
Number of warrants
   
4,300,351
 
Fair value of warrants
 
$
775,596
 
Summary of derivative liabilities fair value measured on a recurring basis
 
        
Fair Value Measurements at December 31, 2013
 
   
Total
Carrying
Value at
September 30,
2013
   
Quoted
prices in
active
markets
(Level 1)
   
Significant
other
observable
inputs
(Level 2)
   
Significant
unobservable
inputs
(Level 3)
 
Derivative liabilities
 
$
775,596
   
$
-
   
$
-
   
$
775,596
 
Summary of changes in fair value of Level 3 financial liabilities
 
Year ended
December 31,
2013
 
Beginning balance January 1, 2013
 
$
0
 
Initial valuation of derivative financial instruments
   
1,451,644
 
Net unrealized (gain) loss on derivative financial instruments
   
(676,048)
 
Ending balance
 
$
775,596