Quarterly report pursuant to Section 13 or 15(d)

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

v3.7.0.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2017
Accounting Policies [Abstract]  
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  
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