Annual report pursuant to section 13 and 15(d)

7. Derivative liability (Tables)

v2.4.0.8
7. Derivative liability (Tables)
12 Months Ended
Dec. 31, 2013
Derivative Liability [Abstract]  
Schedule of derivative liabilities
    Fair Value of Warrants  
    January 15,     December 31,     December 31,  
    2013     2012     2011  
Risk-free interest rate     0.12%       0.02%       0.02%  
Expected volatility     92%       165%       165%  
Expected life (in years)     0.75 - 1.00       0.04       0.04  
Expected dividend yield     0%       0%       0%  
Fair Value:                        
2009 Summer Warrants   $     $     $ 332,998  
2009 Wellfleet Warrants                 17,807  
2009 Fall Warrants     3,441,752       3,221,138       1,292,334  
Total Fair Value   $ 3,441,752     $ 3,221,138     $ 1,643,139