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 Measurements Tables  
Fair value hierarchy financial assets measured

The following tables set forth the financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the dates indicated:

 

   

Fair Value at

June 30,

     Fair Value Measurement Using  
Description   2017     Level 1     Level 2     Level 3  
                         
Derivative Liabilities – Conversion Feature   $ 3,163,000     $ –     $ –     $ 3,163,000  
                                 
    $ 3,163,000     $ –     $ –     $ 3,163,000  

 

    Fair Value at December 31,     Fair Value Measurement Using  
Description   2016     Level 1   Level 2     Level 3  
                         
Derivative Liabilities – Conversion Feature   $ 6,987,000   $ –   $ –     $ 6,987,000  
Liability – Contingent Consideration   $ 12,085,859     –     –       12,085,859  
                             
    $ 19,072,859   $ –   $ –     $ 19,072,859  

Reconciliation of the Derivative Liabilities measured

Balance at December 31, 2016   $ 6,987,000  
         
Change in Fair Market Value of Conversion Feature     (2,597,950 )
Derivative Debt Converted into Equity     (5,672,050 )
Issuance of Debt Instruments with Derivatives     4,446,000  
         
Balance at June 30, 2017   $ 3,163,000  

Reconciliation of the Contingent Consideration Liability
Balance at December 31, 2016   $ 12,085,859  
         
Change in Fair Market Valuation of Contingent Consideration     4,426,047  
Payment of Contingent Consideration in Cash     (2,088,000 )
Settlement of Contingent Consideration     (4,739,638 )
Settlement of Contingent Consideration Recorded Against Additional Paid-In Capital     (4,692,697 )
Gain on Settlement of Contingent Consideration     (4,991,571 )
         
Balance at June 30, 2017   $ –