Quarterly report pursuant to sections 13 or 15(d)

8. Derivative liability (Tables)

v2.3.0.11
8. Derivative liability (Tables)
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
The derivative liabilities were valued using a probability weighted average series of Black-Scholes-Merton models

The derivative liabilities were valued using a probability weighted average series of Black-Scholes-Merton models as a valuation technique with the following assumptions:

 

    Fair Value of Warrants  
    June 30, 2012     December 31, 
2011
 
Risk-free interest rate     0.16%       0.12%  
Expected volatility     117%       92%  
Expected life (in years)     0.25 – 0.50       0.75 – 1.00  
Expected dividend yield     0%       0%  
Fair Value:                
2009 Summer Warrants     367,896       332,998  
2009 Wellfleet Warrants           17,807  
2009 Fall Warrants     1,357,242       1,292,334  
Total Fair Value   $ 1,725,138     $ 1,643,139