Fair value of financial instruments (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the year ending December 31, 2013:

	Fair value measurement
	using level 3 inputs
	Derivatives		Total
Balance January 1, 2013	$	7,166	$	7,166
Total (gains) or losses (realized/unrealized) included in consolidated statements of operations		2,204		2,204
Purchases, issuances and settlements		–		–
Reclassification of derivative liabilities to equity upon modification of terms (Note 8)		(9,370)		(9,370)
Balance, December 31, 2013	$	–	$	–

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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