Quarterly report pursuant to Section 13 or 15(d)

Derivative Liability (Tables)

v3.3.0.814
Derivative Liability (Tables)
9 Months Ended
Sep. 30, 2015
Derivative Liability [Abstract]  
Schedule of fair value of the warrants


    At Issuance    

September 30,

2015

 
Market value of stock on measurement date   $ 0.55     $ 0.28  
Risk-free interest rate     1.12 %     0.92 %
Dividend yield     0 %     0 %
Volatility factor     55.0 %     58.7 %
Term     3 years       2.75 years
Schedule of derivative liability


Fair value at issuance date   $ 163,532  
Gain on change of fair value     (126,575 )
Balance at September 30, 2015   $ 36,957
Schedule of warrants outstanding


Total # of warrants issued and outstanding     1,055,916  
Weighted-average exercise price   $ 0.75  
Remaining life (in years)     2.75