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7. Derivative liability (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Liability [Abstract]

Schedule of derivative liabilities

		Fair Value of Warrants
		January 15,				December 31,				December 31,
		2013				2012				2011
Risk-free interest rate			0.12%				0.02%				0.02%
Expected volatility			92%				165%				165%
Expected life (in years)			0.75 - 1.00				0.04				0.04
Expected dividend yield			0%				0%				0%
Fair Value:
2009 Summer Warrants		$	–			$	–			$	332,998
2009 Wellfleet Warrants			–				–				17,807
2009 Fall Warrants			3,441,752				3,221,138				1,292,334
Total Fair Value		$	3,441,752			$	3,221,138			$	1,643,139

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- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, used to measure similar assets in prior periods (non-recurring basis) by class of asset or liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258

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