Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments and Fair Value (Tables)

Derivative Financial Instruments and Fair Value (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table sets forth the financial assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2017 and March 31, 2018:

	Level 1		Level 2		Level 3		Total
As of December 31, 2017:
Embedded conversion options	$	-	$	-	$	1,577,025	$	1,577,025
Common stock warrants		-		-		10,858,225		10,858,225
Total	$	-	$	-	$	12,435,250	$	12,435,250

As of March 31, 2018:
Embedded conversion options	$	-	$	-	$	1,005,188	$	1,005,188
Common stock warrants		-		-		151,418,187		151,418,187
Total	$	-	$	-	$	152,423,375	$	152,423,375

Schedule of Changes in Liabilities with Level 3 of Fair Value

The following table reconciles the changes in the liabilities categorized within Level 3 of the fair value hierarchy for the three months ended March 31, 2018:

Balance at December 31, 2017	$	12,435,250
Loss on change in fair value included in net loss		139,779,232
Issuance of convertible debt		208,893
Balance at March 31, 2018	$	152,423,375