Quarterly report pursuant to Section 13 or 15(d)

Derivative Instruments

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Derivative Instruments
 6 Months Ended
Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments
Derivative Instruments

Certain embedded features of our convertible securities, notes payable, or warrants to purchase our common stock may be treated as derivative liabilities. The estimated fair values of the derivative liabilities are recorded as non-current liabilities on the consolidated balance sheet. Changes in the estimated fair values of the derivative liabilities are recorded in the consolidated statement of operations as non-cash income (expense). We do not use derivative instruments for hedging of market risks or for trading or speculative purposes.

At June 30, 2015, derivative liabilities consist of warrants to purchase MT Common Stock, issued to Platinum and Dr. Michael Goldberg. The total estimated fair value of our derivative liabilities was $63,000 as of June 30, 2015. See Note 1b(3).