Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2016

Dec. 31, 2015

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2016 and December 31, 2015:


June 30, 2016	Fair Value		(Level 1)		(Level 2)		(Level 3)
Common stock warrants	$	3,527	$	—	$	—	$	3,527
Total	$	3,527	$	—	$	—	$	3,527


December 31, 2015	Fair Value		(Level 1)		(Level 2)		(Level 3)
Common stock warrants	$	4,145	$	—	$	—	$	4,145
Total	$	4,145	$	—	$	—	$	4,145

The following tables summarize the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2015 and December 31, 2014:


December 31, 2015	Fair Value		(Level 1)		(Level 2)		(Level 3)
Common stock warrants	$	4,145	$	—	$	—	$	4,145
Total	$	4,145	$	—	$	—	$	4,145


December 31, 2014	Fair Value		(Level 1)		(Level 2)		(Level 3)
Common stock warrants	$	30,278	$	—	$	—	$	30,278
Total	$	30,278	$	—	$	—	$	30,278

Schedule Of Changes In Fair Value Derivative Liability

The Company estimated the fair value of the derivative liability using the Black-Scholes option pricing model. The fair value of the derivative liability as of June 30, 2016 was estimated using the following assumptions:


Expected volatility	65	%
Risk free rate	0.66	%
Dividend yield	0	%
Expected term (in years)	2.5753

The Company estimated the fair value of the derivative liability using the Black-Scholes option pricing model. The fair value of the derivative liability as of December 31, 2015 was estimated using the following assumptions:


Expected volatility	60	%
Risk free rate	1.31	%
Dividend yield	0	%
Expected term (in years)	3.0726

Schedule of Changes in Fair Value of Company's Level 3 Liabilities

The following sets forth a summary of changes in fair value of the Company’s Level 3 liabilities measured on a recurring basis for the six months ended June 30, 2015 and June 30, 2016:


	Common Stock Warrants
Balance at December 31, 2014	$	30,278
Fair value at issuance		41,305
Change in fair value		(12,321	)
Balance at June 30, 2015	$	59,262
Balance at December 31, 2015	$	4,145
Change in fair value		(618	)
Balance at June 30, 2016	$	3,527

The following sets forth a summary of changes in fair value of the Company’s level 3 liabilities measured on a recurring basis for the twelve months ended December 31, 2015 and December 31, 2014:


	Convertible Notes Payable Derivative Liability			Series A-1 Preferred Stock Derivative Liability			Common Stock Warrants
Balance at December 31, 2013	$	534,975		$	56,926		$	—
Extinguishment		(434,500	)		—			—
Fair value at issuance		189,300			—			466,706
Change in fair value		(289,775	)		(56,926	)		(436,428	)
Balance at December 31, 2014	$	—		$	—		$	30,278
Fair value at issuance		—			—			41,306
Change in fair value		—			—			(67,439	)
Balance at December 31, 2015	$	—		$	—		$	4,145