Quarterly report pursuant to Section 13 or 15(d)

9. FAIR VALUE OF FINANCIAL MEASUREMENTS (Tables)

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9. FAIR VALUE OF FINANCIAL MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Financial instruments measured at fair value on a recurring basis
    Fair Value of Measurements at June 30, 2015  
    Total     Level 1     Level 2     Level 3  
Liabilities                                
Warrant liability   $ 127,395     $     $     $ 127,395  
Convertible note compound derivative liabilities   $   252,014     $       $       $  252,014  
Fair value measurement assumption
    March 12, 2015       June 30, 2015
Risk-free interest rate     1.59 %     1.63 %
Expected dividend yield     0       0  
Volatility factor     80 %     81 %
Expected life of warrant   5 years 4.7 years
Change in the Company's Level 3 liabilities
Balance at December 31, 2014   $  
      Issuance of warrant liability     146,995  
      Change in fair value     (19,600 )
Balance at June 30, 2015   $ 127,395  

 

Balance at December 31, 2014   $  
      Issuance of derivatives in connection with convertible note agreements     274,331  
      Change in fair value     (22,317 )
Balance at June 30, 2015   $ 252,014