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DERIVATIVE LIABILITY WARRANTS AND DERIVATIVE LIABILITY CONVERSION OPTION (Tables)
9 Months Ended
Sep. 30, 2014
Notes to Financial Statements  
Warrants and conversion option
  December 31, 2013 September 30, 2014
  Expected Life (Years) Risk free Rate Dividend yield Volatility Expected Life (Years) Risk free Rate Dividend yield Volatility
Share purchase warrants 0.85 to 2.78 0.13% to 0.78% 0.00% 199% 0.36 to 3.78 0.03% to 1.58% 0.00% 155.9% -199%

 

  December 31, 2013 June 27, 2014
  Expected Life (Years) Risk free Rate Dividend yield Volatility Expected Life (Years) Risk free Rate Dividend yield Volatility
Conversion option 0.16 to 0.53 0.04% to 0.10% 0.00% 199% Nil 0.04% 0.00% 199%
Derivative liability - warrants and Derivative liability - conversion option
 

 

As of September 30, 2014

 

 

 

 

  Fair Value Measurements  

 

 

 

 

 

Fair Value Level 1 Level 2 Level 3 Total
Derivative liability - warrants $  83,521 $  83,521 $  83,521
Total $  83,521 $  83,521 $  83,521

 

 

 

As of December 31, 2013

 

 

 

 

  Fair Value Measurements  

 

 

 

 

 

Fair Value Level 1 Level 2 Level 3 Total
Derivative liability - warrants $  140,504 $  140,504 $  140,504
Derivative liability – conversion option 582,300 582,300 582,300
Total $  722,804 $  722,804 $  722,804
Financial assets and liabilities
    Derivative liability – conversion option Derivative liability – warrants
Balance – December 31, 2013 $582,300  $140,504 
Loss on settlement of debt (4,400)  
Change in fair value of conversion option liability (577,900)     
Change in fair value of warrant liability   (56,983)
Balance – September 30, 2014 $           -  $ 83,521