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FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The following tables provide the fair value measurements of applicable financial liabilities as of June 30, 2016 and December 31, 2015:

 

    Financial liabilities at fair value as of June 30, 2016  
    Level 1     Level 2     Level 3     Total  
                         
5% Notes   $ --     $ --     $ 90,564     $ 90,564  
    Total   $ --     $ --     $ 90,564     $ 90,564  

 

    Financial liabilities at fair value as of December 31, 2015  
    Level 1     Level 2     Level 3     Total  
                         
5% Notes   $ --     $ --     $ 211,549     $ 211,549  
    Total   $ --     $ --     $ 211,549     $ 211,549  

 

Change In Level Three Fair Value During Period
Fair value at December 31, 2015   $ 211,549  
Interest accrued on face value of 5% Notes     463,161  
Conversion of 5% notes     (30,601 )
Change in fair value of Level 3 liabilities     (553,545 )
Fair value at June 30, 2016   $ 90,564