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9. Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of financial liabilities measured at fair value

		Total				Level 1				Level 2				Level 3
Warrant liability		$	59,592			$	-			$	-			$	59,592

Schedule of activity for liabilities measured at fair value

Balance as of December 31, 2012	267,950
Issuance of warrant liabilities	995,418
Exercise of warrant liabilities	(1,006,648	)
Realized and unrealized gain relate to change in fair value	(162,442	)
Balance as of March 31, 2013	94,278
Issuances of warrant liabilities	-
Exercise of warrant liabilities	-
Realized and unrealized loss related to change in fair value	(25,477	)
Balance as of June 30, 2013	68,801
Issuances of warrant liabilities	-
Exercise of warrant liabilities	-
Realized and unrealized loss related to change in fair value	(9,209	)
Balance as of September 30, 2013	59,592

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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