Quarterly report pursuant to sections 13 or 15(d)

7. Derivative liability (Tables)

v2.4.0.6
7. Derivative liability (Tables)
3 Months Ended
Mar. 31, 2013
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, which approximates the Monte Carlo and other binominal valuation techniques with the following assumptions:

 

    Fair Value of Warrants  
   

January 15,

2013

    December 31,
2012
 
Risk-free interest rate     0.09%       0.02%  
Expected volatility     165%       165%  
Expected life (in years)     0.04       0.04  
Expected dividend yield     0%       0%  
Fair Value:                
2009 Fall Warrants   $ 3,441,752     $ 3,221,138  
Total Fair Value   $ 3,441,752     $ 3,221,138