v3.6.0.2
SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Oct. 31, 2016
SIGNIFICANT ACCOUNTING POLICIES (Tables):  
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques

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 October 31, 2016 and January 31, 2016:

 

 

 

Fair value measured at October 31,  2016

 

 

Total carrying value at October 31,

 

 

Quoted prices in activemarkets

 

 

Significant otherobservable inputs

 

 

Significantunobservable inputs

 

 

2016

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency investments

 

$

14,581

 

 

$

-

 

 

$

-

 

 

$

14,581

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

$

259,384

 

 

$

-

 

 

$

-

 

 

$

259,384

 

 

 

Fair value measured at January 31, 2016

 

 

Total carrying value

at January 31,

 

 

Quoted prices in activemarkets

 

 

Significant other

observable inputs

 

 

Significant

unobservable inputs

 

 

2016

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency investments

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liabilities

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

Schedule of Changes in Fair Value of Plan Assets

Changes in Level 3 liabilities measured at fair value for the nine months ended October 31, 2016:

 

Derivative liabilities Balance - February 1, 2016

 

$

-

Fair value of derivative liability

 

 

259,384

Derivative liabilities Balance - October 31, 2016

 

$

259,384

 

Convertible notes at fair value Balance - February 1, 2016

 

$

62,000

Addition of convertible notes

 

 

81,600

Conversion of notes and interest into common stock

 

 

(132,720)

Cash paid settlement of note

 

 

(20,000)

Gain on extinguishment of debt

 

 

(78,356)

Change in fair value of convertible notes (including OID discount)

 

 

152,834

Convertible notes at fair value Balance - October 31, 2016

 

$

65,358

Schedule of Convertible Notes at Fair Value

Convertible Notes at Fair Value

 

Date of valuation

 

October 31, 2016

 

Strike price

 

$

0.00060 - 0.00128

 

Volatility (annual)

 

 

316.23 - 324.92

%

Risk-free rate

 

 

0.20% to 0.54

%

Dividend yield (per share)

 

 

0

%