Quarterly report pursuant to Section 13 or 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

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Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Schedule of fair value assets and liabilities measured on recurring basis

The table below reflects the level of the inputs used in the Company’s fair value calculation for instruments carried at fair value at (see Note 7):

                 
    Quoted Prices
in Active
Markets
(Level 1)		   Significant
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		   Total Fair
Value
                                 
June 30, 2015                                
Derivative liabilities - warrants   $ -     $ -     $ 3,167,268     $ 3,167,268  
December 31, 2014                                
Derivative liabilities - warrants   $ -     $ -     $ 2,198,162     $ 2,198,162  
Schedule of carrying values and estimated fair values of debt instruments

The table below reflects the carrying values and the estimated fair values, based on Level 3 inputs, of the Company’s outstanding notes payable, including the related accrued interest, at June 30, 2015:

               
    Carrying Values   Estimated
Fair Values		  
Senior secured note payable, including accrued interest   $ 4,675,720   $ 4,675,720  
2014 junior secured notes payable, including accrued interest     3,508,465     3,845,125  
2010 junior secured notes payable, including accrued interest     874,106     2,419,477