XML 49 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
Warrant Liability (Tables)
 6 Months Ended
Jun. 30, 2016
Text Block [Abstract]  
Assumptions Used for Black-Scholes Model

The assumptions used for the Black-Scholes model to value the Warrants are as follows:

 

     Series A
(2011)		     Series A
(2016)		     Series B
(2016)		  

Risk-free interest rate per year

      0.26 %      0.68 %      1.26 % 

Expected volatility per year

      269.6 %      155.8 %      108.2 % 

Expected dividend yield

      0 %      0 %      0 % 

Expected life (years)

      0.5        1.7        5.7   

Summary of Changes in Fair Value of Warrant Liability

The following table is a summary of the changes in fair value of warrant liability in the second quarter of 2016:

 

     Series A
(2011)		      Series A
(2016)		      Series B
(2016)		      Total  

Balance at December 31, 2015

    $ 511,594       $ 1,760,937       $ 3,887,140       $ 6,159,671   

Changes in fair value

      (454,308 )       (1,600,713 )       (3,513,613 )       (5,568,634 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Balance at June 30, 2016

    $ 57,286       $ 160,224       $ 373,527       $ 591,037