The Company’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy.

The following table presents information about the Company’s liabilities measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of January 31, 2017 and January 31, 2016:

Fair value measured at January 31, 2016

Total carrying value at January 31,

Quoted prices in activemarkets

Significant otherobservable inputs

Significantunobservable inputs

2016

(Level 1)

(Level 2)

(Level 3)

Assets:

Foreign currency investments

Liabilities:

Derivative liabilities

	Fair value measured at January 31, 2017
	Total carrying value at January 31,		Quoted prices in activemarkets		Significant otherobservable inputs		Significantunobservable inputs
	2017		(Level 1)		(Level 2)		(Level 3)
Assets:
Foreign currency investments	$	14,681	$	-	$	-	$	14,681

Liabilities:
Derivative liabilities	$	-	$	-	$	-	$	-

There were no transfers between Level 1, 2 or 3 during the years ended January 31, 2017 and 2016.

The following table presents additional information about Level 3 assets and liabilities measured at fair value. Both observable and unobservable inputs may be used to determine the fair value of positions that the Company has classified within the Level 3 category. As a result, the unrealized gains and losses for assets and liabilities within the Level 3 category may include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs.

Changes in Level 3 liabilities measured at fair value for the year ended January 31, 2017:

Convertible notes Balance - February 1, 2016	$	82,621
Addition of convertible notes		185,505
Conversion of notes into common stock		(155,730)
Cash paid settlement of note		(58,750)
Gain on extinguishment of debt		(90,200)
Change in fair value of convertible notes (including OID discount)	$	254,006
Convertible notes Balance - January 31, 2017	$	217,452

The Company’s derivative liabilities are measured at fair value using the Black Scholes valuation methodology. A summary of the weighted average (in aggregate) significant unobservable inputs (Level 3 inputs) used in measuring the Company’s derivative liabilities that are categorized within Level 3 of the fair value hierarchy for the year ended January 31, 2017 is as follows:

The development and determination of the unobservable inputs for Level 3 fair value measurements and fair value calculations are the responsibility of the Company’s Management.