Annual report pursuant to Section 13 and 15(d)

Fair Value (Tables)

v3.7.0.1
Fair Value (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value of Liabilities Measured on Recurring Basis

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

Quoted Prices

in Active

Markets for

Identical

Assets and

Liabilities

     

Significant

Other

Observable

Inputs

     

Significant

Unobservable

Inputs (a)(b)

     

Balance as of

December 31,

 
Description     (Level 1)       (Level 2)       (Level 3)       2016  
Platinum notes payable   $ —       $ —       $ 9,641,179     $ 9,641,179  
Liability related to MT warrants     —         —         63,000       63,000  

 

    Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015
     
     

Quoted Prices

in Active

Markets for

Identical

Assets and

Liabilities

     

Significant

Other

Observable

Inputs

     

Significant

Unobservable

Inputs (a)(b)

     

Balance as of

December 31,

 
Description     (Level 1)       (Level 2)       (Level 3)       2015  
Platinum notes payable   $ —       $ —       $ 11,491,253     $ 11,491,253  
Liability related to MT warrants     —         —         63,000       63,000  

 

Favir Value Assumptions Used
    2016     2015  
Estimated volatility   76%     58%  
Expected term (in years)   4.75     5.75  
Debt rate   8.125%     14.125%  
Beginning stock price   $0.64     $1.33