Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.7.0.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of Stock Option Valuation Assumptions

This results in a conversion feature. The Company measures the conversion feature using the Black Scholes option pricing model using the following assumptions:

 

      Three months ended June 30,       Six months ended June 30,  
      2017       2016       2017       2016  
                                 
Expected term     8 months - 5 years       9 months - 3 years       8 months - 5 years       9 months - 3 years  
Exercise price     $0.0203-$0.28       $0.0659-$0.28       $0.0203-$0.28       $0.0659-$0.28  
Expected volatility     184%-201%       221%-276%       184%-276%       199%-276%  
Expected dividends     None       None       None       None  
Risk-free interest rate     1.05% to 1.79%       0.45% to 1.06%       0.45% to 1.79%       0.45% to 1.06%  
Forfeitures     None       None       None       None

Schedule of Changes in Liabilities with Significant Unobservable Inputs

The following table presents changes in the liabilities with significant unobservable inputs (level 3) for the six months ended June 30, 2017:

 

    Derivative  
    Liability  
Balance December 31, 2016   $ 1,927,752  
         
Issuance of convertible debt     4,327,488  
Settlements by debt extinguishment     (6,514,428 )
Change in estimated fair value     2,400,778  
         
Balance June 30, 2017   $ 2,141,590

Schedule of Balance in Liabilities with Significant Unobservable Inputs

The following table presents balances in the liabilities with significant unobservable inputs (Level 3) at June 30, 2017:

 

    Fair Value Measurements Using  
    Quoted Prices in     Significant Other     Significant        
    Active Markets for     Observable     Unobservable        
    Identical Assets     Inputs     Inputs        
    (Level 1)     (Level 2)     (Level 3)     Total  
                         
As of June 30, 2017                                
Derivative liability   $ -     $ -     $ 2,141,590     $ 2,141,590  
Total   $ -     $ -     $ 2,141,590     $ 2,141,590