• Filing Date: 2015-04-09
  • Form Type: 10-K
  • Description: Annual report
v2.4.1.9
10. DERIVATIVE LIABILITIES (Tables)
12 Months Ended
Dec. 31, 2014
Derivative Liabilities Tables  
Fair value of the derivative warrant liabilities by using the Black-Scholes Option Pricing Model
Year   2013   2014
Dividend yield:   0%   0%
Expected volatility   106.09%  to 196.26%   103.35%  to 155.36%
Risk free interest rate   .07% to 1.75%   .13% to 1.07%
Expected life (years)   0.16 to 5.00   0.82 to 2.57
Changes in fair value of derivative liabilities
Balance, December 31, 2012   $ (1,336,574 )
  Fair value of warrant derivatives on date of grant     (812,705 )
  Convertible debt derivatives recognized as derivative loss     (151,336 )
  Convertible debt derivatives recognized as debt discount     (617,399 )
  Resolution of warrant derivatives upon exercises     48,630  
  Resolution of convertible debt derivatives upon conversions     1,311,702  
  Gain on change in fair value of derivative liabilities     516,832  
Balance, December 31, 2013     (1,040,850 )
  Convertible debt derivatives recognized as derivative loss     (22,500 )
  Convertible debt derivatives recognized as debt discount     (90,000 )
  Resolution of convertible debt derivatives upon conversions     132,417  
  Resolution of convertible debt derivatives upon debt payoff     59,311  
  Resolution of warrant derivatives no longer qualifying as derivative liabilities     918,580  
  Gain on change in fair value of derivative liabilities     41,334  
Balance, December 31, 2013   $ (1,708 )