Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Measurements Tables  
Liabilities measured at fair value

On a recurring basis, we measure certain financial assets and liabilities based upon the fair value hierarchy. The following table presents information about the Company’s liabilities measured at fair value as of June 30, 2015:

 

    Level 1     Level 2     Level 3     Fair Value at June 30, 2015  
Liabilities                        
Derivative Liability   $ -     $ -     $ -     $ -  
                                 
    Level 1     Level 2     Level 3    

 

Fair Value at December 31, 2014

  
Liabilities                                
Derivative liability   $ -     $ 1,577,640     $ -     $ 1,577,640  
Schedule of Derivative Liabilities at Fair Value

The fair value changes in the fair value of recurring fair value measurements using model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data (Level 2), relate solely to the derivative liability as follows:

 

Balance as of December 31, 2014   $ 1,577,640  
Exercise of warrants attached to derivative liability   $ (74,347 )
Adjustment due to expiry of derivative liability   $ (1,163,549 )
Fair value adjustments   $ (339,744 )
Balance as of June 30, 2015   $ -