v2.4.0.8
FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2014
Fair Values Of Financial Instruments Tables  
Summary of the warrant liability fair value using Level 3 inputs

The following table is a summary of the warrant liability activity measured at fair value using Level 3 inputs:

 

    Warrant Liability  
       
       
Balance at December 31, 2013   $ 1,060,353  
         
Granted     167,532  
Cancelled, forfeited or expired     (24,120 )
Change in fair value of common stock warrants     (324,306 )
         
Balance at March 31, 2014 (unaudited)   $ 879,459  
Summary of the forward contract liability activity

.   The following table is a summary of the forward contract liability activity measured at fair value using Level 3 inputs:

 

   

Forward

Contract

Liability

  
       
       
Balance at December 31, 2013   $ 115,767  
         
Granted     -  
Cancelled, forfeited or expired       (115,767 )
Change in fair value     -  
         
Balance at March  31, 2014 (unaudited)   $ -  
Summary of the derivative liability activity

The following table is a summary of the derivative liability activity measured at fair value using Level 3 inputs:

 

   

Derivative

Liability

  
       
       
Balance at December 31, 2013   $ 312,088  
         
Granted     -  
Cancelled, forfeited or expired        
Change in fair value     (62,042 ) 
         
Balance at March 31, 2014 (unaudited)   $ 250,046