Quarterly report pursuant to Section 13 or 15(d)

Fair Value Hierarchy

Fair Value Hierarchy	6 Months Ended
Fair Value Hierarchy	Jun. 30, 2013
Fair Value Hierarchy [Abstract]
Fair Value Hierarchy	2. Fair Value Hierarchy Under certain circumstances, beginning in the second quarter of 2013, Platinum-Montaur Life Sciences, Inc. (Montaur) has the right to convert all or any portion of the unpaid principal or unpaid interest accrued on any future draws under the Montaur credit facility. Montaur’s option to convert future draws into common stock was determined to meet the definition of a liability, which is included in notes payable on the consolidated balance sheet. The estimated fair value of Montaur’s conversion option is $943,000 at June 30, 2013 and will be measured on a recurring basis. See Note 6. There were no financial assets or liabilities measured at fair value on a recurring basis as December 31, 2012. There were no Level 1 liabilities outstanding at any time during the three-month or six-month periods ended June 30, 2013 and 2012. There were no transfers in or out of our Level 2 liabilities during the three-month or six-month periods ended June 30, 2013 or 2012.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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+ Details