Quarterly report pursuant to Section 13 or 15(d)

Notes Payable (Tables)

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Notes Payable (Tables)
 3 Months Ended
Mar. 31, 2016
Notes Payable Tables  
Schedule of fair value of warrants

Assumptions used in calculating the fair value of the warrants using the Black-Scholes valuation model were:

 

Dividend yield     0%  
Expected volatility     47.5% - 47.7%  
Risk free interest rates     1.73% - 1.76%  
Expected life (in years)     5.0  
Schedule of notes payable maturities

Scheduled principal payments, before giving effect to the terms of the New Brainlab Note discussed in Note 7, with respect to notes payable are summarized as follows:

 

Years ending December 31,          
2016     $ 4,289,444  
2017       -  
2018       -  
2019       3,725,000  
2020       3,000,000  
Total scheduled principal payments       11,014,444  
Less unamortized discounts at March 31, 2016       (2,762,429 )
    $ 8,252,016