| Fair value of financial liabilities |
| |
December 31,
2017 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
Significant
Other
Observable
Inputs
(Level 2) |
|
Significant
Unobservable
Inputs
(Level 3) |
| Derivative liability |
$ |
9,493,307 |
|
$ |
- |
|
$ - |
|
|
$ |
9,493,307 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
December 31,
2016 |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
Significant
Other
Observable
Inputs
(Level 2) |
|
Significant
Unobservable
Inputs
(Level 3) |
| Derivative liability |
$ |
1,301,138 |
|
$ |
- |
|
$ - |
|
|
$ |
1,301,138 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative Liabilities Assumptions Used |
| Balance, January 1, 2016 |
|
|
— |
|
| Transfers in to Level 3: |
|
|
2,720,375 |
|
| Transfers out due to conversions and payoffs |
|
|
(2,001,149 |
) |
| Mark to market to December 31, 2016 |
|
|
581,912 |
|
| Balance, December 31, 2016 |
|
$ |
1,301,138 |
|
| Loss on change in warrant and derivative liabilities for the year ended December 31, 2016 |
|
$ |
(581,912 |
) |
| Balance, January 1, 2017 | |
$ | 1,301,138 | |
| Transfers in due to issuance of liability warrants in connection with sale of common stock | |
| 1,003,870 | |
| Transfers in due to issuance of convertible notes and warrants with embedded conversion and | |
| | |
| reset options | |
| 798,431 | |
| Transfers out due to warrant exercise | |
| (610,967) | |
| Mark to market to December 31, 2017 | |
| 7,000,835 | |
| Balance, December 31, 2017 | |
$ | 9,493,307 | |
| Loss on change in warrant liabilities for the twelve months ended December 31, 2017 | |
$ | (7,000,835 | ) |
|