FAIR VALUE MEASUREMENTS (Tables)
|
9 Months Ended |
Sep. 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 September 30, |
|
|
Fair
Value Measurement Using |
|
| Description
|
|
2017 |
|
|
Level
1 |
|
|
Level
2 |
|
|
Level
3 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative
Liabilities Conversion Feature |
|
$ |
4,639,000 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
4,639,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
4,639,000 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
4,639,000 |
|
| |
|
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 |
|
|
| Fair value of the derivative liabilities using |
| |
|
September
30, |
|
|
December
31, |
|
| |
|
2017 |
|
|
2016 |
|
| |
|
|
|
|
|
|
| Stock Price |
|
$0.17 - $0.34 |
|
|
$0.29 - $0.49 |
|
| Conversion and Exercise
Price |
|
$0.12 - $0.44 |
|
|
$0.22 - $0.50 |
|
| Annual
Dividend Yield |
|
- |
|
|
- |
|
| Expected
Life (Years) |
|
0.45 - 3.42 |
|
|
1.5 - 4.0 |
|
| Risk-Free
Interest Rate |
|
1.04% - 2.50% |
|
|
2.50% |
|
| Expected
Volatility |
|
43.80% - 123.56% |
|
|
120.30%-144.03% |
|
|
| Reconciliation of the Derivative Liabilities measured |
| Balance
at December 31, 2016 |
|
$ |
6,987,000 |
|
| |
|
|
|
|
| Change
in Fair Market Value of Conversion Feature |
|
|
(1,122,050 |
) |
| Derivative
Debt Converted into Equity |
|
|
(9,106,950 |
) |
| Issuance
of Debt Instruments with Derivatives |
|
|
7,881,000 |
|
| |
|
|
|
|
| Balance
at September 30, 2017 |
|
$ |
4,639,000 |
|
|
| 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 September 30, 2017 |
|
$ |
- |
|
|