| 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 calculations:
| |
|
Quoted
Prices
in Active
Markets
(Level 1) |
|
|
Significant
Observable Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Total
Fair
Value |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| March
31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
liabilities - warrants |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
176,719 |
|
|
$ |
176,719 |
|
| Derivative
liabilities – debt conversion feature |
|
|
|
|
|
|
|
|
|
|
47,500 |
|
|
|
47,500 |
|
| December
31, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
liabilities - warrants |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
91,173 |
|
|
$ |
91,173 |
|
| Derivative
liabilities – debt conversion feature |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
40,000 |
|
|
$ |
40,000 |
|
|
The table below reflects the
level of the inputs used in the Company’s fair value calculations:
| |
|
Quoted
Prices
in
Active
Markets
(Level 1) |
|
|
Significant
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
|
Total
Fair
Value |
|
| |
|
|
|
|
|
|
|
|
| December
31, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
liabilities - warrants |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
91,173 |
|
|
$ |
91,173 |
|
| Derivative liabilities
– debt conversion feature |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
40,000 |
|
|
$ |
40,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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, 2017:
| |
|
Carrying
Values |
|
Estimated
Fair Values |
|
| Senior
secured note payable, including accrued interest |
|
$ |
2,027,500 |
|
$ |
2,027,500 |
|
| 2014
junior secured notes payable, including accrued interest |
|
|
1,822,687 |
|
|
1,983,375 |
|
| 2010
junior secured notes payable, including accrued interest |
|
|
1,451,814 |
|
|
2,858,412 |
|
|
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 December 31, 2016:
| |
|
Carrying
Value |
|
|
Estimated
Fair
Value |
|
| Senior
secured note payable, including accrued interest |
|
$ |
2,028,111 |
|
|
$ |
2,028,111 |
|
| 2014 junior secured
notes payable, including accrued interest |
|
$ |
1,861,851 |
|
|
$ |
2,042,625 |
|
| 2010 junior secured
notes payable, including accrued interest |
|
$ |
1,345,028 |
|
|
$ |
2,789,257 |
|
|