Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

v3.7.0.1
Fair Value (Tables)
3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value of Liabilities Measured on Recurring Basis

 

  Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2017
Description  

Quoted Prices in

Active Markets

for Identical Liabilities

(Level 1)

   

Significant

Other

Observable

Inputs (Level 2)

   

Significant

Unobservable

Inputs (Level 3)

    Total      
Platinum notes payable   $     $     $ 1,926,218     $ 1,926,218      
Liability related to MT warrants                 63,000       63,000      

 

  Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2016
Description  

Quoted Prices in

Active Markets for Identical

Liabilities

(Level 1)

   

Significant

Other

Observable

Inputs (Level 2)

   

Significant

Unobservable

Inputs (Level 3)

    Total      
Platinum notes payable   $     $     $ 9,641,179     $ 9,641,179      
Liability related to MT warrants                 63,000       63,000      
Fair Value Assumptions
   

March 31,

2017

    December 31, 2016  
Estimated volatility     110 %     76 %
Expected term (in years)     0.43       4.75  
Debt rate     8.125 %     8.125 %
Beginning stock price   $ 0.58     $ 0.64