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)
 3 Months Ended
Mar. 31, 2016
Basis Of Presentation And Summary Of Significant Accounting Policies Tables  
Schedule of the level of the inputs used in the company's fair value calculation for instruments carried at fair value

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 6):

 

    Quoted Prices
in Active
Markets
(Level 1)		     Significant
Observable Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		     Total Fair
Value		  
                                 
March 31, 2016                                
Derivative liabilities - warrants   $ -     $ -     $ 498,168     $ 498,168  
December 31, 2015                                
Derivative liabilities - warrants   $ -     $ -     $ 658,286     $ 658,286  
Schedule of the carrying values and the estimated fair values, based on Level 3 inputs

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 March 31, 2016:

 

    Carrying Values     Estimated
Fair Values		  
Senior secured note payable, including accrued interest   $ 5,026,966     $ 5,026,966  
2014 junior secured notes payable, including accrued interest     3,298,967       3,733,375  
2010 junior secured notes payable, including accrued interest     1,087,240       2,476,630