XML 88 R30.htm IDEA: XBRL DOCUMENT v3.4.0.3
Note 9 - Fair Value Measurement (Tables)
3 Months Ended
Mar. 31, 2016
Fair Value Disclosures [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
   

Fair value at

   

Quoted prices in

active markets for identical

assets/ liabilities

   

Significant other observable inputs

   

Significant unobservable inputs

 
   

March 31, 2016

   

(Level 1)

   

(Level 2)

   

(Level 3)

 

Derivatives: (1) (2)

                               

Conversion feature liability

  $ 1,302,806     $ -0-     $ -0-     $ 1,302,806  

Warrant liability

    2,601,060       -0-       -0-       2,601,060  
                                 

Total of derivative liabilities

  $ 3,903,866     $ -0-     $ -0-     $ 3,903,866  
   

Fair value at

   

Quoted prices in

active markets

for identical

assets/ liabilities

   

Significant other observable inputs

   

Significant unobservable inputs

 
   

December 31, 2015

   

(Level 1)

   

(Level 2)

   

(Level 3)

 

Derivatives: (1) (2)

                               

Conversion feature liability

  $ 901,243     $ -0-     $ -0-     $ 901,243  

Warrant liability

    1,914,923       -0-       -0-       1,914,923  

Total of derivative liabilities

  $ 2,816,166     $ -0-     $ -0-     $ 2,816,166  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

Significant valuation assumptions of derivative instruments at March 31, 2016

 

Risk free interest rate

  0.53% to 0.90%  

Dividend yield

    0.00%    

Expected volatility

  100.4% to 119.7%  

Expected life (range in years)

         

Conversion feature liability

  1.00 to 2.00  

Warrant liability

  1.00 to 3.00  

Significant valuation assumptions of derivative instruments at December 31, 2015

         

Risk free interest rate

  0.48% to 1.2%  

Dividend yield

    0.00%    

Expected volatility

  91.0% to 132.2%  

Expected life (range in years)

         

Conversion feature liability

  1.25 to 2.25  

Warrant liability

  0.00 to 3.01  
Fair Value Measurements, Nonrecurring [Table Text Block]
   

Carrying amount

   

Carrying amount

   

Quoted prices in

active markets

for identical

assets/ liabilities

   

Significant other observable inputs

   

Significant unobservable inputs

 
   

December 31, 2015

   

March 31, 2016

   

(Level 1)

   

(Level 2)

   

(Level 3)

 

Acquired assets (3)

                                       

Promasys B.V. customer list (4)

  $ 92,444     $ 94,384     $ -0-     $ -0-     $ 136,253  

Promasys B.V. software code (4)

    41,274       37,633       -0-       -0-       72,943  

Promasys B.V. URLs/website (4)

    15,159       11,049       -0-       -0-       68,814  

Total

  $ 148,877     $ 143,066     $ -0-     $ -0-     $ 278,010  
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block]
   

Other income/(expense)

 
   

For the three months ended

 
   

March 31, 2016

   

March 31, 2015

 

The net amount of gains/(losses) for the period included in earnings attributable to the unrealized gain/(losses) from changes in derivative liabilities at the reporting date

  $ (762,011 )   $ (1,517,719 )
                 

Total unrealized gains/(losses) included in earnings

  $ (762,011 )   $ (1,517,719 )
Schedule of Derivative Liabilities at Fair Value [Table Text Block]
   

Level 3 financial liabilities at fair value

 
                   

Net unrealized

                         
                   

gains/(losses)

   

Net

                 
                   

relating to

   

purchases,

                 
   

Balance,

           

instruments

   

issuances

           

Balance,

 

For the three months ended

 

beginning

   

Net realized

   

held at the

   

and

   

Net transfers

   

end of

 

March 31, 2016

 

of year

   

gains/(losses)

   

reporting date

   

settlements

   

in and/or out

   

period

 

Derivatives:

                                               

Conversion feature liability

  $ (901,243 )   $ -0-     $ (401,563 )   $ -0-     $ -0-     $ (1,302,806 )

Warrant liability

    (1,914,923 )     -0-       (360,448 )     (325,689 )     -0-       (2,601,060 )

Total of derivative liabilities

  $ (2,816,166 )   $ -0-     $ (762,011 )   $ (325,689 )   $ -0-     $ (3,903,866 )
   

Level 3 financial liabilities at fair value

 
                   

Net unrealized

                         
                   

gains/(losses)

   

Net

                 
                   

relating to

   

purchases,

                 
   

Balance,

           

instruments

   

issuances

           

Balance,

 

For the year ended

 

beginning

   

Net realized

   

held at the

   

and

   

Net transfers

   

end of

 

December 31, 2015

 

of year

   

gains/(losses)

   

reporting date

   

settlements

   

in and/or out

   

year

 

Derivatives:

                                               

Conversion feature liability

  $ (2,944,402 )   $ 29,875     $ 2,013,284     $ -0-     $ -0-     $ (901,243 )

Warrant liability

    (6,695,060 )     -0-       2,482,639       (868,128 )     3,165,626       (1,914,923 )

Total of derivative liabilities

  $ (9,639,462 )   $ 29,875     $ 4,495,923     $ (868,128 )   $ 3,165,626     $ (2,816,166 )