Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.5.0.2
Fair Value (Tables)
9 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of valuation of company's derivatives using quoted prices
  
       
Quoted Prices
             
         
In Active
   
Significant
       
         
Markets for
   
Other
   
Significant
 
         
Identical
   
Observable
   
Unobservable
 
         
Liabilities
   
Inputs
   
Inputs
 
   
Total
   
(Level 1)
   
(Level 2)
   
(Level 3)
 
                         
Accrued compensation
  $ 104,033     $ -     $ -     $ 104,033  
Derivative liability
    3,332,900       -       -       3,332,900  
                                 
Balance - September 30, 2016
  $ 3,436,933     $ -     $ -     $ 3,436,933  
                                 
Accrued compensation
  $ 60,000     $ -     $ -     $ 60,000  
Derivative liability
    3,279,600       -       -       3,279,600  
                                 
Balance - December 31, 2015
  $ 3,339,600     $ -     $ -     $ 3,339,600  
Schedule of valuation of Level 3 liabilities
   
For the Three Months Ended
   
For the Nine Months Ended
 
   
September 30,
   
September 30,
 
   
2016
   
2015
   
2016
   
2015
 
                         
Risk-free interest rate
    0.29% - 1.28 %     0.33% - 1.53 %     0.21% - 1.28 %     0.33% - 1.71 %
Expected term (years)
    0.04 - 5.00       0.25 - 5.00       0.04 - 5.00       0.25 - 5.00  
Expected volatility
    150% - 152 %     166 %     150% - 159 %     166% - 172 %
Expected dividends
    0.00 %     0.00 %     0.00 %     0.00 %
Schedule of changes in fair value of liabilities measured at fair value on a recurring basis
   
Accrued
   
Derivative
       
   
Compensation
   
Liability
   
Total
 
                   
Balance - December 31, 2015
  $ 60,000     $ 3,279,600     $ 3,339,600  
                         
Change in fair value
    (1,072 )     (695,200 )     (696,272 )
                         
Issuance of warrants and conversion options
    -       748,500       748,500  
                         
Accrual of obligations
    45,105       -       45,105  
                         
Balance - September 30, 2016
  $ 104,033     $ 3,332,900     $ 3,436,933