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Derivative Financial Instruments
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12 Months Ended | ||||||||||||||||||||
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Dec. 31, 2014
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| Notes to Financial Statements | |||||||||||||||||||||
| Note 11 - Derivative Financial Instruments |
The balance sheet caption derivative liability consists of derivative features embedded in exercisable warrants which have a ratchet provision within their agreements. The balance at December 31, 2014 and 2013 was $1,577,640 and $nil, respectively.
The valuation of the derivative liability is determined using a Black-Scholes Model because that model embodies all of the relevant assumptions that address the features underlying these instruments. Significant assumptions used in the Black-Scholes model at December 31, 2014 include the following:
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- Definition
The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. No definition available.
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- Details
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